Entrance Counseling: A Student Aid Learning Module

Reminder: The Entrance Counseling Module is intended as a supplemental tool and should not be used to replace required federal entrance counseling.

Entrance counseling may be the first contact that your Financial Aid Office has with your students. You can utilize this module as a supplemental tool alongside required federal entrance counseling to prepare your students for the responsibility of paying back their loans.

Some Quick Tips

Ensure that your students are receiving everything they need in their entrance counseling.

Entrance counseling is a federal requirement, and it is your responsibility to make sure your students complete it before their first disbursement is released.

Teach your students how to use the National Student Loan Data System (NSLDS).

The U.S. Department of Education centralizes all federal student loan information through NSLDS. As a result, it is a great tool to assist students in keeping track of their federal loans. It also provides them with information about their lenders, servicers, and guarantors, if applicable.

Make sure your students know who they can contact with questions.

Servicers play a crucial part in the student loan process. They monitor loans, collect payments, and provide pertinent account information. That is why it is important for students to contact and start a relationship with their servicer(s) as soon as their loan is disbursed. Students can complete this worksheet as they review their loan portfolio, so they'll know how to contact their
servicer(s) even when the internet is not at their fingertips.

Provide your students with salary information related to programs at your school.

Entrance counseling provides information regarding their responsibilities towards student loans; however, providing students with actual salary statistics could educate them on what they can expect when it is time to repay their loans.

Provide your students with important information about their loans.

Your students may not be familiar with a lot of facts about student loans. Welcome them to the world of student loans by educating them on some important topics.

Your Entrance Counseling Toolkit

Get started using the free resources we offer…

College Cost Calculator

Our college cost calculator shows students how much they may need to borrow to pay for school.

Tips!:

  • Provide this link to incoming students to prepare them for the cost of attending college.
  • Keep a link to this tool on the section of your website that talks about tuition costs.

Interest

Students need to be aware that capitalized interest can impact their loan balance upon graduation.

Our new About Interest page provides students with all the information they need to know.

Our new Benefits of Paying Interest page provides a comparison of how much students can save over the life of their loan, if they pay the interest that accrues while in school.

With our Interest Savings Calculator, students can input their loan information to calculate how much they can save by paying the interest that accrues.

Tip!:

  • Add links to these pages from the sections of your school website that talks about financial aid.

Know Your Responsibilities. A Student Loan Q&A

Give your students the opportunity to learn about their options when it comes to repayment.

Tip!:

  • Add a link to this interactive tool from the sections of your school website that talk about financial aid.

The Hidden Truths About Student Loans

There are important facts about student loans that some students may not be aware of. Make sure your students know these important details and how they can impact their loans and life after repayment begins.

Tip!:

  • Add this link to the page on your school website that talks about financial aid.

Who's Who

Help students understand who the key players are in the student loan process. Educate students on who these people are to better help them understand their loan and how it works.

Tips!:

  • Add a link to this page anywhere on your school website that talks about financial aid.
  • Keep a link to this page on the section of your website that talks about graduation and leaving school.

Budget

Now that some of your students are on their own, it is important that they learn how to budget properly.

Our Budget Builder Tool can show your students how to make better financial decisions on a limited budget.

Tips!:

  • Use this information to educate students on proper ways to budget.
  • Distribute the link to our interactive tool to students when you notify them about entrance counseling.

Web Banners

Get your students attention by sending the message: Entrance Counseling: Welcome to the World of Student Loans!

Tip!:

  • Add one of our banner ads to your school's website as a quick link for students to learn more about their responsibilities as a borrower.

Tell Us About Exit Counseling at Your School

When and how do you introduce exit counseling to your students?