Entrance & Exit Counseling

Student borrowers in federal loan programs are required to complete online Entrance Counseling before receiving loan funds, and online Exit Counseling when they graduate, leave school or drop below half-time enrollment.

Entrance Counseling is required to help borrowers understand their responsibilities in taking out a loan. It offers information about the loan process, managing education expenses, suggests other resources and shares rights and responsibilities. Exit Counseling assists borrowers as they prepare to begin repayment of their loans and offers money management tips.
ONLINE ENTRANCE COUNSELING
If you are a first-time Federal Direct Loan student borrower at U-M, you must complete Direct Loan Entrance Counseling on the U.S. Department of Education's studentloans.gov website under the "Complete Counseling" link. This includes Direct Subsidized and Unsubsidized Loans and PLUS loans.

This interactive counseling session and quiz helps students develop budgets for managing educational expenses and also understand their loan responsibilities. Allow approximately 30 minutes to complete the counseling.

You must complete the counseling and before your loan funds can be disbursed to you. U-M will be notified by Federal Student Aid when you have completed it. Note: This is not the same as the federal Financial Awareness Counseling Tool which can be found on the same site. Taking a demo counseling session will not fulfill your requirement.

Special note to Parent PLUS Loan borrowers:

Federal PLUS Loans are supplemental loans which require separate application. Entrance counseling is not required for PLUS Loans. However, in 2015, new rules through Federal Student Aid will allow parent borrowers of dependent undergraduates who have adverse credit history to document any extenuating circumstances and o complete a new PLUS Counseling on StudentLoans.gov website to have their applications reconsidered.

ONLINE EXIT COUNSELING - DIRECT LOANS
Federal Direct Loan student borrowers who are graduating or dropping below half-time enrollment must complete this online counseling. This session helps borrowers understand their rights, responsibilities in repayment and helps them choose a repayment plan. This includes students with Direct Loans, Grad PLUS loans and Federal Consolidated loans

Visit studentloans.gov website, log in with your federal PIN or FSA ID and select the "Complete Counseling" link, then "Exit Counseling" to begin. Note: This is not the same as the federal Financial Awareness Counseling Tool which can be found on the same site. Taking a demo counseling session will not fulfill your requirement.

ONLINE EXIT COUNSELING - PERKINS & HEALTH PROFESSIONS
Students with Perkins and Nursing/Health Professions loans must complete a different exit counseling process through the U-M Student Loan Collections office. Borrowers must complete an exit interview for each loan when they graduate, withdraw, or drop below half-time attendance. Failure to complete the exit interview will result in an “exit hold” being placed on your record.

Heartland Campus Solutions ECSI (ECSI) administers these exit interviews for the U-M Student Loan Collection Office. You will receive a notification from ECSI when this is required. Visit the Student Loan Collections website: www.finops.umich.edu/StudentLoans/exit.htm for information.