Entrance and exit counseling.

In plain English

Entrance and exit counseling are two short, required online sessions for most federal student loan borrowers. Entrance counseling happens before you receive your first federal loan and walks you through how much you can borrow, how interest works, and what you are agreeing to repay. Exit counseling happens when you graduate, drop below half-time, or leave school, and it covers your repayment options, who your loan servicer is (the company that bills you), and how to avoid default. Both are usually completed on studentaid.gov and take about half an hour.

01Why it matters

These sessions are the one moment the system makes sure you understand what you owe and how repayment works before the bills start. Skipping the lessons inside them is how people end up surprised by their balance and their first payment date.

02The math, step by step

Before your first loan disburses, your school requires you to log in to studentaid.gov and finish entrance counseling, which estimates your monthly payment after graduation based on how much you borrow. When you graduate, exit counseling reminds you who your servicer is, when your first payment is due, and what repayment plans you can pick.

03What this is NOT

04Receipts

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