entrance interviews
we do our entrance interview after they start, not before they start. we just touch on the basics before they start
Lisa,
I am very pleased to know that this approach has worked for you. We have heard from some schools that struggle with students not taking these decisions seriously- new students see an estimated loan balance and monthly payment, but the information simply does not reach them. Demonstrating how the loan amount affects a monthly budget should help students understand the impact of over-borrowing. This conversation also allows us the opportunity to combat “magical thinkingâ€, including unrealistic expectations for starting salary and the belief that loans somehow disappear (few students understand the actual requirements for loan forgiveness).
I also very much respect that you allow for potential students to have “cold feet†– I regret that more consumers and members of the media do not see how much we care about the long-term success of all students. The old perception of predatory vocational colleges pushing students to enroll for programs they cannot afford needs to change, because as financial aid professions we know this sort of behavior is not the norm. We want students to choose professions where they can succeed and programs/majors that will help them meet those professional goals. We also want them to enroll when they are financially, emotionally, and academically ready to respect tuition and study commitments. Rushing students through the enrollment process hurts our cohort default rates and our reputations.
Kellee Gunderson
It is a requirement our students complete on line entrance counseling before they start-it's done during the final financial aid meeting. This really hits home with some students-they make a budget and see the difference between borrowing minimum and maximum loan amount. I really believe this is an invaluable tool. If the student is going to get cold feet because of the loans, we want them to decide not to go on with the process before they start classes and they already have loan debt.
Ricardo,
You make a great point about educating borrowers before they sign for loans. I have known students who were so eager to receive loan funds that they ignored all the cautions and advice offered to them, going through the motions of entrance counseling quizzes but retaining or internalizing none of the information. These same students tended to over-borrow, even signing up for courses they did not need in order to increase their award amount. We must aim to minimize the damage ill-informed students do to their finances and their futures.
Kellee Gunderson
In our school we do entrance before and on the day of the package , also we go over all detail information in general orientation , because I believe the students need to know they rights and responsibilities before signing any Federal loans
Sharita,
You make two great points. First, you emphasize cost of attendance. Too many students over-borrow and then find their monthly bills are unmanageable after graduation. Helping students understand what they need (and what they do not need) prior to taking out loans will make their lives after college much easier.
Second, you teach them about NSLDS. Loan transfers can be incredibly confusing to students, and many will lose the servicer contact information we provide during exit counseling. Making sure that they know how to access NSLDS will allow them to find their loan servicers and monitor their outstanding balances.
Kellee Gunderson
I have student to complete entrance counseling on-line before starting classes, I also go over cost of attendance with student and discuss what they will need to cover tuition to start school, once student has started school I do a class-room session which is a reminder of cost of schooling, interest rate, repayment , in school deferment etc.advise them to go on nslds.gov for there financial aid history.
I think your point about reminders throughout enrollment is critically important. Students may be attentive to information we provide when they are going through the initial registration process, but all that valuable guidance can be quickly forgotten. Touching base before each new term, semester, or disbursement will help the student plan for repayment as their education progresses and their personal or family situations evolve.
robertina,
A good exit interview as well as financial literacy throughout enrollment are essential. It's important to start them off right at the entrance interview but you must continue to provide the knowledge and resources to the student so they can retain what you have taught them and use it in the future.
Cheryl Kesson
I think that the entrance interviews is very important, but it also important to remind the student about it during and at the end of the program.
Veronica,
Very true. Before students start school, it is good to help them understand how much their education will cost and how much financial aid they will need. Discussing budgeting and the dangers of over-borrowing with new students is important. And as you suggest, maintaining a strong relationship with students throughout their time at your school is equally critical.
Kellee Gunderson
I think that entrance counseling is goo before and during school. Also we are conncected to students during school
We have incorporated it as part of our orientation process that all students watch a short video that describes a borrower's rights and responsibilities. I then stress the importance on being financially responsible for their student loans. Later, I pull them into my office and sit with them one on one while we fill out their promissory note. Again I emphasize how they need to take ownership for their student loans.
Justine,
You provide a good amount of information right at the beginning which is an excellent pratice. It is never to early to start educating students on their rights and responsibilities. The more they hear this throughout their enrollment the more comortable they will be when it comes time to start repaying their loans. Great job at setting your students up for success.
Cheryl Kesson
I usually give the student prior to them enrolling or starting school, the Entrance Counseling Brochure AND the website to do entrance counseling online at Studentloans.gov. I tell them to read and keep the brochure for reference. I feel the online counseling is helpful because it quizzes students to ensure understanding. I also have a DVD on Entrance/Exit Counseling which I display during orientation, as well as before they are ready to graduate.
Samantha,
We have tried to articulate an ideal, optimal strategy, but of course the needs and realities of each school are different. While it is preferable to meet with students in person for exit interviews, this simply cannot always be accomplished. It sounds like your institution is trying to maximize the entrance interview in case it is your last opportunity to meet with the student, and I think that has real value. If students start with a clear understanding of responsibilities and consequences, you are setting them up to make better choices over time.
Cheryl Kesson
In our school we find it hard to get the student one on one once they start school. We use the packaging appt to review and do entrance interviews. It is the last thing we do before the student completes the MPN online. This helps and for us to ask them questions helps them retain the info just a little more.
Matt,
In general, the real impact of loan counseling on defaulr rates seems to occur with exit interviews, but entrance interviews are a great way to "begin at the beginning" to teach students responsible borrowing and repayment habits.
Diana Mateer
Annaliett,
You are correct in that often in that first interview all you can gather is contact information and a sense of whether the student is attentive and enthusiastic. It is critical that you do everything you can to make the loan application "real" to the student, so that they can equate it with something like buying a car or signing up for a credit card. Hard copy applications or detailed explanations of online processes, and a more intensive quiz process, can help you get the message across,
Diana Mateer
Do you find this approach leads to higher default rates? Or similar to national averages?
