Entrance Counseling is a federal requirement for all Federal Stafford Loan recipients. The funds for your loan will not be disbursed until you have completed the 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) for the first time, you are required to meet with a SFS staff member. It is recommended that you complete the federal Entrance Counseling before attending a session.During your individual or group Entrance Counseling session, you will:
- Be given a Loan Borrowing Summary detailing prior and current education debt, provided on request
- Learn about the terms of the BU loans you were awarded
- Sign your BU promissory note(s) and be given copies for your records, provided on request
- Receive budgeting tips
- Be given the opportunity to ask questions about Direct Loans and BU loans