entrance interviews
we do our entrance interview after they start, not before they start. we just touch on the basics before they start
Michele,
The basic information you provide prior to the formal entrance interview should include annual loan limits, interest rate, and repayment terms. As long as you are touching on these areas, students can make informed decisions about borrowing before they start class and complete the entrance interview prior to the first disbursement of their loans.
Diana
The entrance interview is a process that should be reviewed. Why wait until a student starts to talk to them about thier financial obligation and expectation. In a 5-minutes first interview you can expect no more then their name,address and desire to learn. But what about their ability to pay back the obligation. How is this presented so that everyone knows what is expected?
Do you find this approach leads to higher default rates? Or similar to national averages?
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
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
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.
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
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.
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
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.
I think that entrance counseling is goo before and during school. Also we are conncected to students during school
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 the entrance interviews is very important, but it also important to remind the student about it during and at the end of the program.
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 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.
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.
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
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
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
