Federal Direct Loan Entrance Counseling Guide

Transcription

1 This guide is designed to walk you through how to complete Counseling. Chamberlain s Student Services team recommends you receive and discuss your Estimated Financial Plan before you begin Counseling. If you have not received or misplaced your Estimated Financial Plan, please contact the Student Services team at Note: The entire Counseling process will need to be completed in one session. Any progress made towards completion will not be saved if you do not complete the process before leaving the website. The counseling session will take about 30 to 45 minutes to complete. Step 1: Visit studentloans.gov and click on Log In. Federal Direct Loan Entrance Direct Loans is a registered trademark of the U.S. Department of Education Chamberlain College of Nursing LLC. All rights reserved.

2 Step 2: Enter your FSA ID Username and Password. If you do not have an FSA ID, you can register at fsaid.ed.gov o If you are creating an FSA ID for the first time or if you do not link your FSA ID to a previously existing Federal Student Aid PIN, it could take up to 3 business days for your FSA ID to fully activate and allow you to sign an MPN Please use the links below if you already have an FSA ID, but forgot your username or password o Forgot My FSA ID Username o Forgot My FSA ID Password Note: An FSA ID will give you access to Federal Student Aid s online systems and can serve as your legal signature. 2

3 Step 3: Once you are signed in, you may be directed to select your communication preferences. Complete the options that best suit you, then click Save and Continue. If you are not directed to this step, continue on to Step 4. 3

4 Step 4: Click on Complete Counseling. 4

5 Step 5: Click on the Start Entrance Counseling button. 5

6 Step 6: Choose Illinois for the school state and Chamberlain College of Nursing for the school name. Once you are done, select Notify This School. After clicking on Notify This School, the page should refresh with your selection checked. Proceed to Step 7 to select what type of entrance counseling you will be completing. 6

7 Step 7: Scroll down the page to find the Select Student Type section. You will need to choose the correct Student Type based on the degree you are seeking. Associate degree, RN to BSN, and BSN degree seeking students, choose that you want to receive Direct Loans as an undergraduate student Graduate certificate, master s or doctoral degree seeking students, choose that you want to receive Direct Loans as a graduate or professional student Once you have selected the correct Student Type, click on Continue. 7

8 Step 8: You will need to review all five categories starting with Understand Your Loans and finishing with Make Finances a Priority. Each category will have Check your Knowledge questions. You will not be able to proceed to the next category until each Check Your Knowledge question is answered correctly. After you review the material and answer every Check Your Knowledge question in a category, click the Continue button located at the bottom of each category page. 8

9 Step 9: To help you complete the Counseling Budget Estimator in the Manage Your Spending category, please use the Estimated Financial Plan that was provided to you by Student Services. Note: Certain aspects of the Counseling Budget Estimator, such as tuition and enrollment status, are not calculated as accurately as your Estimated Financial Plan. The estimator gives estimates based on schools similar to Chamberlain, but the Estimated Financial Plan provided to you by Student Services was specificly designed to your anticipated enrollment for the upcoming semesters. To start the Counseling Budget Estimator, click on Apply Expenses. 9

10 Step 9 Continued: Next, click on the tab 2. Estimate Your Funds This Year. Use the awards listed on your Estimated Financial Plan (see next page) as a reference for when you input your estimated funds into the Loan Entrance Counseling Budget Estimator. When you review your Estimated Financial Plan, please use the awards column located on the far right titled Total Amount. If your awards on the Estimated Financial Plan show for less than a year, you will need to calculate your anticipated yearly amount before populating the Loan Entrance Counseling Budget Estimator. 10

11 Step 9 Continued: You will not be able to proceed to the next category if your Expenses are higher than your Funds. If you have difficulties with this category, please call the Student Services team at

12 Step 10: After you complete the Counseling Budget Estimator, answer the additional Check your Knowledge questions and continue to the third category, Plan to Repay. In this category, you will review an estimator on repayment plans for after you stop attending classes. To get started, enter your Projected Loan Balance. If you are uncertain of what your projected loan balance will be, please click on the loan balance calculator. If you clicked on the calculator, answer each question to the best of your ability. Finish by clicking on Input Loan Balance. 12

13 Step 10 Continued: When you have finished populating your Projected Loan Balance, click on the tab 2. Estimate Your Monthly Income. In the new tab, input your Projected Annual Income. If you are uncertain of what your Projected Annual Income may be, please visit the website CareerOneStop. 13

14 Step 10 Continued: To see what the differences would be between repayment plans, click back on the tab Your Monthly Loan Payment and view the section below titled Repayment Plan. 14

15 Step 11: Continue through the remaining two categories, Avoid Default and Make Finances a Priority. Be sure to answer every Check Your Knowledge question as you proceed through Counseling. When you finish the remaining categories, you will reach the summary page. Congratulations, you will have successfully completed your Counseling. Your completion will be sent over to the Student Services team, but you are encouraged to print this page for your own records. 15