Financial Aid

Student Loan Counseling

Funding your education through student loans is a major investment

Students who borrow Federal student loans are required to complete an entrance and exit counseling session. Each describes the financial responsibility the student will be undertaking, including interest rates and capitalization and repayment options available.

Entrance Counseling

First-time borrowers of student loans must complete loan counseling prior to receiving a Direct Loan. Loan Counseling is designed to help you ensure that you understand the responsibility and obligation students are assuming when borrowing these types of student loans. Before the Office of Financial Aid is able to disburse loan funds, it must have record that you have completed a loan entrance counseling session. Students can log onto studentloans.gov and, using your FSA ID and password, access the online counseling provided by the the Department of Education. Results of the completion of the counseling session will be forwarded to the financial aid office.

Students new to NEOMED are encouraged to attend a voluntary summer session held in August where the concepts covered during the loan entrance counseling session are explained further.

Supplemental Entrance Counseling Workshop Objectives

  • Understand loan terms and conditions
  • Know borrower rights and responsibilities
  • Learn how financial aid is awarded
  • Learn about types of financial aid available
  • Review the college’s cost of attendance and billing information
  • Introduce the financial literacy campaign, specifically the importance of credit and establishing a personal budget

Exit Counseling

If you obtained student loans to help finance your medical or pharmacy school education, your obligations to your education extend past graduation. Upon graduation, it is time to repay the loans you’ve borrowed.

All students who borrowed a Federal Stafford and or a Graduate PLUS loan must attend a mandatory Student Loan Exit Counseling Session.

Students can log onto studentloans.gov and, using your FSA ID and password, access the online counseling provided by the the Department of Education. Results of the completion of the counseling session will be forwarded to the financial aid office.

Exit Counseling Objectives

  • Understand your master promissory notes, specifically regarding your rights and responsibilities for loan repayment
  • Obtain detailed information regarding your loan balances and average payments
  • Learn about repayment options including deferment, forbearance and consolidation
  • Get tips on managing your debt
  • Receive important contact information regarding your specific loan(s)

Students can log onto studentloans.gov and, using your FSA ID and password, access the online counseling provided by the the Department of Education. Results of the completion of the counseling session will be forwarded to the financial aid office.

Exit Counseling Dates Available

In addition to completing the required exit counseling online, graduating students are able to attend an in-person workshop that will further explain the options for repayment post-enrollment. Dates are as follows:

College of Medicine, Class of 2019
Date: February 25, 2019

College of Pharmacy, Class of 2019
Date: May 1, 2019

Contact

NEOMED Financial Aid
Phone: 330.325.6286
Email: finaid@neomed.edu

Scholarships & financial Aid

Office of Financial Aid