Understanding Federal Loans
First-time borrowers at Sandburg must complete loan entrance counseling prior to the first disbursement of their loan. This is the third step of the loan application process, or you can access it here. http://www.studentloans.gov
The Department of Education Entrance Counseling Guide can help you understand the loan programs and decide if a Direct Loan is right for you terms and conditions of the loan,
To read more about federal loans we recommend this guide: Student Loan Guide
Exit counseling helps the student understand their rights and responsibilities as a student loan borrower and provides useful tips and information to help manage student loan repayment.
You are required to complete Exit Counseling within 30 days of the date you withdraw, graduate, or drop below half-time attendance even if you plan to attend another school.
Choose the following link to begin Exit Counseling process: https://studentloans.gov/myDirectLoan/index.action
If you cannot complete Exit Counseling online, please contact our Financial Aid Office at 309.341.5283 or email email@example.com for assistance.
It is your responsibility to notify your Loan Servicer promptly of any changes in your name, address, college or enrollment status or employers name and address.
The Department of Education Exit Counseling Guide is available to help students learn more about the loan repayment process, rights and responsibilities of the loan etc.
A link to this guide is provided here: Student Loan Exit Counseling Guide
Other things you should know about Student Loans:
- You have certain rights and responsibilities under the Federal Direct Loan program, for information on student Rights and Responsibilities, please go to Student Rights and Responsibilities Information.
- All loans will be submitted to the National Student loan Data System (NSLDS), and will be accessible by guaranty agencies, lenders, and schools determined to be authorized users of the data system.