September 21, 2007, Newsletter Issue #34: Entrance And Exit Counseling For Federal Financial Aid

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The first time you receive federal financial aid at your college or university, you will be required to complete entrance counseling. In fact, funds will not be disbursed until this counseling is completed. Through this process, you will learn what is involved if you accept federal financial aid. Even though grants are “free money” that you are not required to repay, there are rules involved that you need know. For example, if you drop out of school midway through the term, you may be expected to repay the grant. If you are receiving student loans, expectations on repayment will be explained.

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