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Host: What is Entrance Loan Counseling?

Brad Barnett: Entrance Loan Counseling is a requirement at most schools. There are a few schools where that s the exception but most schools will require First Time Loan Borrowers to go through a process called Entrance Loan Counseling. It s a counseling session of sorts with kind of a short little test, typically at the end. We just want to make sure that you understand before you take out your very first loan, what you are getting into that this is debt, that you do have rights and responsibilities but we don t want you to go in to this blindly. Now the good news though, is you only have to do Entrance Loan Counseling once. When you first take out your loan, so in subsequent years, at your school, you wont have to do Entrance Loan Counseling every single year.

Expert: Brad Barnett

Brad received his Bachelor of Science degree from Southern Arkansas University, with a major in Psychology and a minor in Business.  He furthered his education by graduating from the Medical College of Virginia at Virginia Commonwealth University with a Master of Science degree in Rehabilitation Counseling, specializing in Mental Health.  He has been involved in the financial aid and/or rehabilitation More »

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In this video, Mr. Barnett defines some important financial aid terminology that will assist you in understanding more about financial aid in general.

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Tags: Financial aid, College, Graduate, School, University, Scholarship, Scholar, Study, Grant, Loan, Application  

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