Entrance and Exit Counseling
Federal Direct Loan student borrowers are required to complete mandatory on-line entrance and exit counseling. The purpose of the counseling is to provide the student with information regarding their rights and responsibilities; the commitment that comes with the acceptance of a student loan; and to help the student understand how to manage their student loans. It is important for all borrowers to realize that student loans are not grants or scholarships; they require repayment.
You will need to have a personal identification number (PIN) to access the entrance and exit counseling web sites. If you used a PIN to apply for federal financial aid, you should use that PIN to complete entrance counseling. If you have forgotten your PIN and need it reissued or if you need to obtain a PIN, go to www.pin.ed.gov.
If you have any problems completing the online counseling or have any questions, call the Office of Student Financial Aid at 319/335-1450 (toll-free 800-553-4692).
Online entrance counseling is required for all first-time Federal Direct Stafford and Graduate PLUS loan borrowers. Entrance counseling takes approximately 20-30 minutes to complete. After signing in on the www.studentloans.gov web site to complete entrance counseling, be sure to click on the Entrance Counseling link, not the Financial Awareness Counseling link.
The Office of Student Financial Aid receives results of entrance counseling twice a week. Federal Direct Stafford and Graduate PLUS loans will not disburse until entrance counseling has been completed.
All student borrowers who leave the University of Iowa either by graduating, withdrawing, or failing to return for a subsequent semester are required by Federal Law to complete exit counseling on the web at www.studentloans.gov. Student borrowers must complete exit counseling to obtain an official transcript from the University of Iowa Registrar’s Office.
Exit counseling takes approximately 30-40 minutes to complete. The Office of Student Financial Aid receives results of exit counseling twice a week. Official transcripts may be released only after results are received.