Entrance counseling ensures you understand the terms and conditions of your loan and your rights and responsibilities. You’ll learn what a loan is, how interest works, your options for repayment, and how to avoid delinquency and default.
Simply so, do I need to complete entrance counseling for loans annually?
Entrance Counseling : No, the entrance counseling is good forever once it is completed, unless you are transferring from another institution in which case SAU would not have a record of the EC.
Keeping this in view, how do I complete MPN and entrance counseling?
Complete Master Promissory Note
Go to http://www.studentloans.gov and log in using your FSA ID. Select Complete Loan Agreement (Master Promissory Note). For loan type select MPN for Subsidized/Unsubsidized Loans and then Start. Complete each step of the MPN and click Sign & Submit once you have finished.
How do I fill out an entrance counseling form?
Follow the steps below to complete Entrance Counseling:
- Navigate to the website: www.studentloans.gov.
- Click “Sign In” under Manage My Direct Loan.
- Click Complete Entrance Counseling.
- Select either “Undergrad” or “Graduate” loans based on your enrollment.
- Complete your Loan Entrance Counseling.
Is fafsa a loan?
The FAFSA is not a loan. … The FAFSA, or Free Application for Federal Student Aid, is used to apply for several types of financial aid, including grants, student employment and federal student loans. Grants are a form of gift aid, which does not need to be repaid.
Is financial awareness counseling the same as entrance counseling?
Some of the information within this module is the same as the information you will find in Entrance and Exit Counseling. However, Financial Awareness Counseling contains additional information that you won’t find in the other two sessions. Managing and repaying your students loans can get overwhelming.
Is loan exit counseling required?
Exit counseling is required for all federal student loan borrowers. Borrowers who received a subsidized, unsubsidized or PLUS loan under the direct loan program must complete exit counseling when they drop below half-time enrollment, leave school or graduate. … Understand your loan repayment terms and plan options.
What happens if you don’t do exit loan counseling?
Exit counseling is required by federal law. What happens if you don’t complete it depends on your school. Typically, the Bursar’s office will put your transcripts and diploma on hold until you finish exit counseling. Generally, you’ll still be able to graduate.
Which website would you use to complete your entrance and exit counseling?
You can complete entrance counseling for Direct Subsidized, Unsubsidized and Graduate PLUS Loans at the studentloans.gov website.