Entrance Counseling
Entrance Counseling is a federal requirement for all Federal Direct Loan recipients. The funds for your loan will not be disbursed until you have completed the counseling.
Federal Loan Entrance Counseling
Entrance Counseling provides you with information about:
- Your rights and responsibilities as a borrower
- Interest rates, expenses, repayment plans, and other important details about borrowing
- Who to contact with questions
Entrance Counseling is designed to inform you of the rights and responsibilities associated with being a student loan borrower. It is a federal requirement that students complete Entrance Counseling before Federal Direct Unsubsidized and Graduate PLUS Loan funds can disburse to their student account. You can complete this requirement electronically at www.studentaid.gov. Use your federal FSA ID to sign in. If you have not set up your FSA ID user name and password, you must do so before completing the counseling session.
If you are also receiving BU need-based loans from Student Financial Services (SFS), you are required to review and complete an entrance counseling information packet each year you borrow institutional loans.
Institutional Loan Entrance Counseling
It is recommended that you complete the federal Entrance Counseling before completing your institutional loan counseling. The packet of information includes:
- Loan Borrowing Summary detailing prior and current education debt
- Terms of the BU loans you were awarded
- BU Promissory Note(s) that must be signed by you, the student borrower
- Truth In Lending Acknowledgement document you must sign to confirm you understand your cost of attendance, total aid amount awarded, and that you are borrowing non-Federal loans
All new Institutional Loan recipients are required to watch the below video as part of the entrance counseling process