Student Loan CounselingBy Megan-Lynnette Rollins | August 28th, 2014 | Category: News | No Comments »
The Glenville State College Office of Financial Aid wants to remind students who receive student loans that it is required to complete loan entrance counseling each year. This counseling is to be completed online at www.studentloans.gov and can be submitted at any time for the 2014-15 school year.
What can be expected from this counseling?
Student loan counseling is tailored to where the individual is in their education, undergraduate and graduate level, as well as the varying types of student loans. Within the counseling portal students will be asked to use their Federal Student Aid PIN to access loan documentation and to complete counseling tutorials. Counseling will consist of entrance counseling that brings about understanding of direct subsidized and unsubsidized loans. It is important to note that in order to receive a specific loan type students must undergo counseling for that loan to ensure that they understand the responsibilities and obligations that will be assumed with that loan. Entrance counseling will focus on helping students understand their loans, how to manage their spending, how to plan to repay their loans, how to avoid defaulting on their student loans, and how to make finances a priority. Students will also be expected to complete financial awareness counseling which provides adequate tools to help students understand their financial aid and assist them in managing their finances. Finally, students must complete an exit counseling to finish out the requirements to receive federal student loans. If students have received a subsidized or unsubsidized loan they must complete exit counseling each time they drop below half-time enrollment status, graduate, or leave school. Exit counseling can provide important information that students can utilize to help them plan to repay their federal student loans.