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Financial Aid Office

Loan Counseling

Entrance Counseling
Federal regulations require that all first-time borrowers of Federal Direct, Federal Perkins, and Federal Nursing Loans complete a loan entrance counseling.  In addition, annual entrance counseling is required for Perkins and Nursing loans.  The purpose of an entrance counseling is to review your rights and responsibilities regarding your loan(s) and answer any questions you may have concerning your future repayment obligations. Entrance counseling must be completed before loan funds will be disbursed.

When complete entrance counseling you will be asked to provide contact information for people who will always know how to reach you.  This information is used by your loan servicer to contact you if have moved and did notify your servicer of your change of address. 

If a student fails to complete entrance counseling within ten days after the school has received their loan funds, their loan(s) will be canceled.

Federal Direct Loan borrowers should complete their entrance counseling at StudentLoans.gov. In order to complete Direct Loan Entrance Counseling, students must have their Federal Student Aid PIN.  If necessary, you may request a duplicate of your pin at www.pin.ed.gov.   Select Minot State University as the school to receive your Direct Loan Entrance Counseling results.

Federal Perkins Loan and Federal Nursing Loan borrowers should complete their loan entrance counseling at www.mappingyourfuture.org.  Remember, all Perkins and Nursing Loan borrowers must complete entrance counseling each year they accept a loan.

Exit Counseling
If you received loans while attending Minot State University through the Federal Direct, Federal Stafford, Federal Perkins, and/or Nursing Student Loan Program, you are required to complete a loan exit counseling. This must be done upon graduation, withdrawal from school, or dropping below half time.

The purpose of exit counseling is to review your rights and responsibilities, provide information about repayment options, cancellation provisions, and answer any questions that you might have concerning the repayment of your loans.  You will be asked to provide contact information for people who will always know how to reach you.  This information is used by your loan servicer to contact you if have moved and did notify your servicer of your change of address.  The MSU Financial Aid Office has compiled a presenation to help answer your questions regarding repayment and cancellation and forgiveness opporunities.  Click here.

Federal Direct Loan and Federal Stafford Loan borrowers should complete their exit counseling at StudentLoans.gov.  In order to complete Direct Loan Exit Counseling, students must have their Federal Student Aid PIN.  If necessary, you may request a duplicate of your pin at www.pin.ed.gov. Select Minot State University as the school to receive your Direct Loan Entrance Counseling results.

Federal Perkins Loan and Federal Nursing Loan borrowers should complete their exit counseling at www.mappingyourfuture.org.

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