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Loan Counseling

Entrance Counseling
  
Federal regulations require that all first-time borrowers of Federal Direct Loans complete loan entrance counseling. The purpose of entrance counseling is to review your rights and responsibilities regarding your loan(s) and answer any questions you may have concerning your future repayment obligations. Entrance counseling must be completed before loan funds will be disbursed.
 
When completing entrance loan counseling you will be asked to provide contact information for people who will always know how to reach you.  This information is used by your loan servicer to contact you if have moved and did notify your servicer of your change of address. 
 
You can complete your entrance counseling at StudentLoans.gov. You will need to log in with your FSA ID and select Williston State College as your school.
 
If you do not have internet access or access to a computer, or would just like someone to work through the process with you, please stop by our office in Stevens Hall.
 
Exit Counseling
  
If you received loans while attending Williston State College through the Federal Direct, Federal Stafford, and/or Federal Perkins program, you are required to complete loan exit counseling. This must be done upon graduation, withdrawal from school, or dropping below half time.
 
The purpose of exit counseling is to review your rights and responsibilities, provide information about repayment options, cancellation provisions, and answer any questions that you might have concerning the repayment of your loans.  You will be asked to provide contact information for people who will always know how to reach you.  This information is used by your loan servicer to contact you if have moved and did notify your servicer of your change of address.
 
Federal Direct Loan and Federal Stafford Loan borrowers should complete their exit counseling at StudentLoans.gov.  In order to complete Direct Loan Exit Counseling, students must have their FSA ID.  Select Williston State College as the school to receive your Direct Loan Entrance Counseling results.
 
If you do not have internet access or access to a computer, or would just like someone to work through the process with you, please stop by our office in Stevens Hall.
 
Federal Perkins Loan borrowers should complete their exit counseling at MappingYourFuture.
 
Credit Bureau Reporting
  
All federal student loan lenders are required to do credit bureau reporting.
 
Information concerning the amount, disbursement, and repayment of student loans will be reported to one or more national credit bureau organizations.
 
Educational loans are generally non-dischargeable under bankruptcy.
 
If you repay your educational loans on time, you will be seen as being a good credit risk.  This will be beneficial in the future if you apply for a loan to buy a house or a car.