Loan Counseling
Prior to borrowing a Federal Direct Loan students are required to complete Entrance Counseling. You can click on the link in the right panel and you will be taken to a separate website where this can be completed. Once you complete this process the Office of Financial Aid will be notified via email. You will not have to submit anything else. The main reason for this requirement is that federal law requires that all students be provided with the same basic level of information concerning their student loans.
Along with entrance counseling, it is a federal requirement that all students who received a Federal Stafford/Direct/Grad PLUS Loan complete exit counseling. Again, this requirement may be completed for federal loans online. This information will include how much they owe, when their payments start, who they pay, alternative if they are experiencing problems, etc.
Along with entrance counseling, it is a federal requirement that all students who received a Federal Perkins Loan be provided with exit counseling. The Perkins Exit site will use your actual Luther Perkins amounts. Students may request a one-on-one exit interview. During this interview students will receive specific information concerning the repayment of their student loan. This information will include how much they owe, when their payments start, who they pay, alternative if they are experiencing problems, etc. These in-person sessions usually take about 40 minutes to an hour. Please note that if you complete the Perkins Exit Counseling in person you may receive email messages from University Accounting Service (our Perkins Loan servicer) that you need to come to their site to complete the exit process. This is not necessary for those that complete it in person.
