Entrance Loan Counseling

Student borrowers that have not completed an Entrance Interview are required to do so by Federal law. The interview requires students to affirm their rights and responsibilities under the Federal Stafford Loan Program, such as payment options, deferment and forbearance options as well as notification requirements. It is preferable to do the Entrance Interview online. In the event that online access is unavailable, the Entrance Interview can be done at NYCDA and must be completed prior to the disbursement of loan funds.

Exit Loan Counseling

Exit Counseling is a requirement for everyone who has borrowed funds from the Federal government. It is designed to prepare you for the repaying of your student loans and help you with personal financial management.

Throughout this session you will learn the rules that apply to your student loans, repayment options, debt management possibilities and the consequences of defaulting on your loans.

To complete the Interviews at the end of these meetings you will need the following:

• Your Social Security Number;
• Your driver’s license number and state of issuance;
• Name, address and telephone number of your next of kin (nearest relative);
• Name, address and telephone number for two references that the holders of your loans could contact if they should lose contact with you;
• Name, address and telephone number of your expected employer (if known). You should know how much you owe on each loan, who the lender is, and the date repayment begins. Your lender (or servicer) will give you this information, but if they don’t, you are still obligated to pay.

You will also need to know which types of Federal student loans you have borrowed during all years of attendance at NYCDA.

Direct Stafford Loan Program – If you borrow under the Direct Stafford Loan Program (either a Subsidized Stafford Loan or an Unsubsidized Stafford Loan, or both), you will be required to complete one of the Stafford Loan Exit Counseling sessions through NYCDA.