Entrance and Exit Counseling

Entrance Counseling

The Higher Education Act of 1965 requires colleges to provide borrowers of federal student loans with loan counseling. Entrance counseling occurs before the first disbursement of the loan and exit counseling occurs shortly before the student graduates or drops below half-time enrollment.

• Who? students who have not previously received a subsidized/unsubsidized Direct student loan
• What? online information provided to help students understand their rights and obligations as a student loan borrower
• When? before the student can receive loan funds
• Where? studentaid.gov
• Why? per federal regulation – to explain the use of the Master Promissory Note (MPN) and the impact of deferring interest on the loan balance and cost of the loan
• Is there anything I will need?
  • your FSA ID (username and password created for use on U.S. Department of Education websites)
  • school name
  • details on your income, financial aid and living expenses

Exit Counseling

RCU will automatically receive confirmation when students complete online Entrance Counseling and online Exit Counseling. The Exit Counseling is required each time the student drops below half-time enrollment, graduates or leaves school. The entire counseling process must be completed in a single session. Most people complete counseling in 20-30 minutes.

• Who? students who have received a subsidized/unsubsidized Direct loan
• What? online information to prepare students to repay their federal student loan(s)
• When? each time the student drops below half-time enrollment, graduates or leaves school
• Where? studentaid.gov
• Why? per federal regulation – to provide important information to help students understand their loans, plans for repayment, avoiding default and making finances a priority
• Is there anything I will need?
  • contact information for your closest living relative
  • two references who live in the U.S.
  • current or expected employer (if known)