Entrance and Exit Counseling

Federal Direct Unsubsidized/Graduate PLUS Loan Entrance/Exit Counseling

Federal Direct Unsubsidized/Graduate PLUS Entrance and Exit counseling is an online process where students can access the counseling session by clicking on the link below:

Federal Direct Unsubsidized/Graduate PLUS Loan Entrance Counseling

Federal regulations require students to conduct an entrance counseling session before we can release the first disbursement of the Federal Direct Unsubsidized Loan.

Federal regulations set forth required elements of entrance counseling. Some of the information is included in the Borrowers Rights and Responsibilities statement that must accompany the Master Promissory Note (MPN), and the entrance counseling session will review and elaborate on these points as part of the counseling presentation.

Other topics covered during the online entrance counseling session are:

The consequences of defaulting on your student loans. The federal regulations require that entrance counseling describe the likely consequences of default, including credit reports, federal offset, litigation, and charges that might be imposed for delinquency or defaults, such as guarantor's collection expenses including attorneys fees. Another consequence of default is that federal and state tax refunds may be seized and wages garnished, and the borrower loses eligibility for any further funding from Federal Student Financial Aid programs.
Reinforcing the importance of repayment, emphasize the seriousness and importance of a repayment obligation. Students are advised that they must make payments on their loans even if the borrower does not receive a payment booklet or billing notice.
The importance that repayment is required, regardless of educational outcome or subsequent employability. The student is obligated to repay the full loan even if he or she does not finish the program, is unemployed or dissatisfied with the school's educational program or other services
Sample monthly repayment amounts for different levels of indebtedness are provided
A review of the terms and conditions of the loan
Review repayment options
Discuss how to manage expenses
Reinforce the communication of a student's change status to the lender
Review deferments, forbearance, and cancellation options
Importance of keeping loan records
Remind students about exit counseling

Once the student has completed online entrance counseling we are sent an e-mail certification. The e-mail certification is placed in the students file, and we note that the student completed the entrance counseling requirement on our mainframe system. Federal Loan funds are then disbursed to the student account according to our scheduled disbursement calendar.

Federal Direct Unsubsidized/Graduate PLUS Loan Exit Counseling

Federal Direct Unsubsidized Loan Exit Counseling is a mandatory requirement for students who graduate, are enrolled less than half-time, or withdrew and borrowed a Federal Direct Unsubsidized loan during the period of attendance at the Caruso School of Law.

Exit counseling consists of a complete review of information given in entrance counseling. Some of the topics are:

The consequences of default and the importance of repayment obligation
The use of the Master Promissory note
The obligation to repay the loan if the student does not get a job, or is otherwise dissatisfied with the quality of the school's educational program or services
Provides an average anticipated monthly repayment amount with a sample loan repayment schedule and loan debt summary
Reviews repayment options such as standard, extended, graduated and income contingent/income sensitive plans
Reviews forbearance, deferment and cancellation options, and advises students to contact their lender and continue to make payments on the loan while waiting for approval of such requests
Advises students about the availability of loan information on the National Student Loan Data Systems (NSLDS) and provide them with a direct link to the website at nslds.ed.gov. Advises students that NSLDS is updated by lenders and guarantors, and may not be as current as the latest information from their lender
Advises students about the availability of the United States Department of Education FSA Ombudsman's office, and that students can use this when all other approaches to resolve student loan problems have failed.
A financial aid hold is placed on students account until exit counseling is complete. The hold will prevent students from receiving their academic transcript.

Federal Loan Exit Counseling

Federal regulations require that all students who graduate, drop below half-time, or withdraw from school complete a mandatory Federal loan exit counseling session. Students who have a Federal loan will receive an email from Educational Computer Services, Inc. (ECSI) notifying them of their personal PIN number. The assigned PIN number will allow borrowers to access their account as well as complete the online exit counseling at www.heartlandecsi.com. If you have any questions or concerns, please feel free to contact ECSI at (888) 549-3274.