Loan Entrance Counseling
If you are borrowing from the Federal Direct Loan Program, Federal Perkins Loan Program, or the MN SELF Loan Program for the first time you will need to complete entrance counseling for each loan type you borrow from. If this is the first time that you have borrowed a Federal Perkins loan from WSU you must complete entrance counseling for the Perkins Loan regardless if you have borrowed a Perkins loan at another school. Loan funds cannot be disbursed until this is done.
What is entrance counseling?
The goal of entrance counseling is to help you understand what it means to take out a student loan. During entrance counseling, you will learn about the following:
- What a student loan is and how the loan process works
- Managing your education expenses
- Other financial resources to consider to help pay for your education
- Your rights and responsibilities as a borrower
Who has to complete entrance counseling?
- All students borrowing a Direct Subsidized or Unsubsidized Loan for the first time.
- Graduate students borrowing a Direct PLUS Loan for the first time.
- If this is the first time you are borrowing a Federal Perkins Loan from WSU, you must complete entrance counseling.
- All students borrowing a MN SELF Loan for the first time.
*Parents taking out a Direct PLUS Loan to help pay for their children's education expenses do not have to complete entrance counseling.
When do I go through entrance counseling?
You must complete entrance counseling before WSU can make the first disbursement of your loan.
Where do I complete entrance counseling?
Federal Direct Loans (subsidized, unsubsidized, PLUS for graduates)