Loan Counseling

• Statutory Authority

  • U.S. Code, Title 20—Education Chapter 28—Higher Education Resources and Student Assistance Subchapter IV—Student Assistance > Part D—William D. Ford Federal Direct Loan Program §§ 1087a et seq Program authority [HEA §§ 451 et seq]
  • U.S. Code, Title 20—Education Chapter 28—Higher Education Resources and Student Assistance Subchapter IV—Student Assistance > Part E—Federal Perkins Loans § 1087cc–1 Student loan information by eligible institutions [HEA § 463A]
  • U.S. Code, Title 20—Education Chapter 28—Higher Education Resources and Student Assistance Subchapter IV—Student Assistance > Part G—General § 1092 Institutional and financial assistance information for students [HEA § 485]

• Regulations

  • 34 CFR 674.16
  • 34 CFR 674.42
  • 34 CFR 682.604
  • 34 CFR 685.304

• ED References

  See also Subtopics for more specific references.

  • 2019-20 FSA Handbook, Vol. 2
  • 2019-20 FSA Handbook, Vol. 6

• NASFAA Publications and Articles

  • NASFAA AskRegs Knowledgebase

    Search or browse the Knowledgebase for answers to regulatory and compliance questions submitted by financial aid administrators.

  • NASFAA U Authorized Events

    NASFAA U Authorized Events are a comprehensive set of instructional materials for teaching financial aid concepts to groups of individuals. Materials include a study guide, instructor guide and accompanying presentation slides.

• Subtopics

  • Additional information schools may provide

    • 2019-20 FSA Handbook, Vol. 2, Ch. 6
    • FSA’s Default Prevention Resource Information Page

  • Direct Loan entrance (initial) counseling

    • Borrowers subject to entrance counseling

      • Direct Subsidized or Unsubsidized Loan

        • 685.304(a)(1)
        • 2019-20 FSA Handbook, Vol. 2, Ch. 6

      • Grad PLUS Loan

        • 685.304(a)(2)
        • 2019-20 FSA Handbook, Vol. 2, Ch. 6

    • Content of counseling

      • Direct Subsidized or Unsubsidized Loan

        • 685.304(a)(6)
        • 2019-20 FSA Handbook, Vol. 2, Ch. 6

      • Grad PLUS Loan

        • 685.304(a)(7)
        • 2019-20 FSA Handbook, Vol. 2, Ch. 6

    • Documentation

      • 668.24(c)(1)(v)
      • 685.304(a)(9)
      • 2019-20 FSA Handbook, Vol. 2, Ch. 6

    • Format of counseling

      • 685.304(a)(3), (4)
      • 2019-20 FSA Handbook, Vol. 2, Ch. 6

    • Quality assurance plan alternative

      • 685.304(a)(8)
      • 2019-20 FSA Handbook, Vol. 2, Ch. 6

    • Reasonable availability of individual with Title IV expertise

      • 685.304(a)(5)

    • Repayment option counseling in default prevention plans

      • 668.217(a)(1)(iii)
      • Part 668, Subpart N, Appendix A

  • Direct Loan and Stafford Loan exit counseling

    • Content of counseling

      • 682.604(a)(2)
      • 685.304(b)(4)
      • 2019-20 FSA Handbook, Vol. 2, Ch. 6

    • Description of student rights and responsibilities regarding exit counseling

      • 668.42(c)(6)

    • Documentation

      • 668.24(c)(1)(v)
      • 682.604(a)(4)
      • 685.304(b)(7)

    • Format of counseling

      • 682.604(a)(1)
      • 685.304(b)(2), (3)
      • 685.304(b)(6)
      • 2019-20 FSA Handbook, Vol. 2, Ch. 6

    • Provision to ED of skip-tracing-related information gathered in exit counseling from borrower

      • 668.24(c)(1)(v)
      • 685.304(b)(5)

    • Student fails to complete

      • 2019-20 FSA Handbook, Vol. 2, Ch. 6

    • Student Loan Ombudsman

      • 685.304(b)(4)(vii)
      • GEN-13-11
      • 2019-20 FSA Handbook, Vol. 2, Ch. 6

    • Timing

      • 682.604(a)(1)
      • 685.304(b)(1)

  • Perkins Loan exit counseling, repayment information, and subsequent disclosures

    • Content

      • 674.42(b)(2)
      • 2019-20 FSA Handbook, Vol. 6, Ch. 3
      • 2019-20 FSA Handbook, Vol. 6, Ch. 5

    • Disclosure of repayment information

      • 674.42(a)
      • 2019-20 FSA Handbook, Vol. 6, Ch. 3

    • Disclosures during grace periods

      • 674.42(c)
      • 2019-20 FSA Handbook, Vol. 6, Ch. 5

    • Documentation

      • 668.24(c)(1)(v)
      • 674.42(b)(4)
      • 2019-20 FSA Handbook, Vol. 6, Ch. 3

    • Format of counseling and general requirement

      • 674.42(b)(1)
      • 674.42(b)(3)
      • 2019-20 FSA Handbook, Vol. 6, Ch. 3

    • Provision to ED of skip-tracing-related information gathered in exit counseling from borrower

      • 668.24(c)(1)(v)
      • 2019-20 FSA Handbook, Vol. 6, Ch. 5

    • Student Loan Ombudsman

      • 674.42(b)(2)(xi)
      • GEN-13-11
      • 2019-20 FSA Handbook, Vol. 6, Ch. 5

    • Timing

      • 674.42(b)(1)
      • 2019-20 FSA Handbook, Vol. 6, Ch. 3

  • Student access to loan and other aid history

    • Electronic Announcement, 5/6/14

  • TEACH Grant counseling

    See top list entry for TEACH Grant