New Counseling Tool Name Causes Confusion

Federal Direct student loan borrowers should take caution to choose the correct counseling requirement on StudentLoans.gov to avoid delay in processing of financial aid.

Entrance Counseling is a federal requirement student loan borrowers must complete in order to accept their Federal Direct loans.

Federal Student Aid recently launched a new online resource, the Financial Awareness Counseling Tool (FACT), to help student loan borrowers understand and manage their debt. This new online interactive tool should not be confused with Entrance Counseling, as both are available on the StudentLoans.gov website.

Due to the similarity in names, borrowers should carefully choose the correct counseling option to fit their needs.

Students who need to complete the Entrance Counseling requirement will see a reminder message on their "Student Aid Summary" checklist in eLion and will also receive email reminders from the Office of Student Aid.

The Financial Awareness Counseling Tool does not satisfy the Entrance Counseling requirement.