In accordance with federal regulations all student loan recipients must participate in Entrance and Exit Interview sessions. During these sessions, the following issues will be discussed:

• A borrower’s right and responsibilities.
• Repayment plans, which include the date on which finance charges begin to accrue on the unpaid principle balance and the amount financed, as well as frequency of payments.
• Future plans of the student, i.e. plans for deferment or forbearance of payment.
• Confirmation of the student’s permanent mailing address, and reminder to notify the school and loan services of any changes in personal information.
• Consequences of delinquency and default.
• Debt consolidation.

In addition to these required components, emphasis is placed on money management and personal finance.

Debt Management

 Since 1987, debt management presentations have been conducted at Pre-Orientation, orientation and Exit Interview/Financial Aid Planning sessions, Lunchtime sessions are also conducted annually for each class.

These presentations have two components: financial aid planning strategies and student loan management. Students are given an annual update of loan totals and sample repayment schedules. Emphasis is placed on the impact of consumer disability, lifestyle choices, budgeting and money management.

Students are encouraged to keep living expenses to a minimum. These are non-fixed expenses and can be controlled by the student. The student’s expense budget is an estimate-many students can maintain expenses less than those budgeted. Students are also encouraged to eliminate credit card debt, and to maintain a high credit score. Private loan applications rely on a credit check. A low credit score will restrict access to private loan funds, and these funds are necessary as budgets increase.

Components of student’s loan management include information in: grace periods; deferment options; hardship deferments; forbearance options; loan consolidation; add in new borrowers; capitalization; fellowships; tax laws; payment comparisons; and the impact of delinquency and default.