Understanding Loan Counseling

There are two different versions of Loan Counseling available in the system, Simple and Expanded, one of which is chosen as part of the Financial Aid Default settings for installation of the system. Understanding Loan Counseling outlines the two versions and how they are used to set up and manage both entrance and exit loan counseling data. Entrance loan counseling data can be used to impact the authorization and disbursement of financial aid.

The Simple version of Loan Counseling allows for the identification and management of loan counseling requirements on an annual basis.

The Expanded version of Loan Counseling allows for the identification and management of loan counseling requirements on either an annual or multi-year assessment basis. In addition, loan counseling requirements can be optionally extended to self-service.