Mapping Your Future: Educating students and parents about student loans



We are doing maintenance August 17-19, 2018. The process will start at 6 p.m. on Friday, August 17 and will be completed as soon as possible on August 18 or 19.

Newsroom

Educating students and parents about student loans

By Beth Ziehmer

July 02, 2018

Student loans are sometimes a difficult issue for students and parents to discuss. Education is key to understanding the terms and conditions for borrowing and successfully repaying the loans.

First and foremost, remember that the student loans must be repaid! Students should exhaust other sources of financial aid that they typically don't have to repay (such as grants, scholarships, and work-study) before applying for loans. Student loans should be a last resort.

If the student decides to borrow, the student can learn more about things like how to apply and how much you can borrow.

There are several types of student loans:

Student loan borrowers will need to complete a Master Promissory Note (MPN) and entrance counseling before the loan can be disbursed. When the student drops below half-time status, withdraws, or graduates, the student will be directed to complete exit counseling. The entrance and exit counseling sessions are required by federal regulation to help the student understand the terms of the loan and promote successful repayment.

For more information about student loans, visit mappingyourfuture.org/paying/studentloans.cfm or contact Mapping Your Future at feedback@mappingyourfuture.org or 1-800-374-4072.