Entrance and Exit Counseling Requirement
All students eligible to receive Direct Federal Loans must complete the Loan Entrance Counseling before federal funding can be disbursed.
Students who have borrowed through the Federal Direct Loan Program (Subsidized, Unsubsidized or Graduate PLUS) while at Aspen University are required by law to complete an exit counseling session if they are graduating, withdrawing, or dropping below half-time enrollment. This web-based, exit counseling session has been created to make sure all students understand their rights and responsibilities as a Federal Direct Loan borrower. The topics covered in the web-based exit counseling session are:
- Summary of total Federal Direct Student loan indebtedness
- Summary of total non-Federal Direct Student loan indebtedness, including FFEL and Perkins loans
- Interest rates
- Information about entering repayment
- Repayment plan options
- Making payments
- Choice of monthly payment date
- Prepayment
- Consequences of default
- Loan consolidation
- Deferments
- Forbearances
- Loan discharge
- Information on how to contact the Direct Loan Servicing and Loan Consolidation centers
- Information on the Direct Loan website
In order for Aspen University to be notified that exit counseling has been completed, be sure the University is listed as the current school of attendance. This question will be asked after the session and quiz is completed. If the University is not listed, the borrower will have to provide Aspen University with a copy of the Borrowers Information and the Rights and Responsibilities Summary Checklist that can be printed during the on-line exit counseling session.