Applicant
Applicant must be informed about the terms and amount of loan repayments and when repayments begin.
Elizabeth,
Yes, knowledge is power. Many students don't even think about the repayment aspect of student loans. It seems to be too far in the future to even address.
Patty Aronoff
The new and improved Entrance couseling on the studentloand.gov website I think is very informative and really imparts how long it will take and how much loan reapyment will cost with interest. I think this is a reality check for students who don't understand how loans work.
Arlin,
This is a contractual agreement. The student should understand all facets of the document they are signing.
Patty Aronoff
I would says it is imperative that applicants understand all financial agreement before they enroll in the school. All fees should made clear and forthcoming for the duration of program.
Anita ,
Excellent! The student needs to be well versed on financing their education.
Patty Aronoff
Our admissions department doesn't have much to do with the ins & outs of the loan packages for our students. I do extensive loan counseling as well as inform each student about the terms & conditions of their loans.
I completely agree and find it is a very important subject to cover in admissions. Even though I feel our school has less of a risk with that since our students are typically non-traditional students with families and careers where they want to move up to the next level, it is still extremely important.
Ronald ,
Default management is key to the success of an organization's financial stability. The expectation of the student to repay their loans should start at the beginning of their relationship with the school.
Patty Aronoff
It is important that the student understands when repayment options begin. This should be documented with entrance and exit forms and presentations.
NATALIA,
This is an important step of the process which cannot be missed. Student default rates can dramatically affect your school business.
Patty Aronoff
