Loan Counseling

Entrance Loan Counseling

Students who have not previously received a Federal Stafford Loan at Madison Area Technical College must complete the online Entrance Loan Counseling and Master Promissory Note (MPN) on the Student Loans website.

The purpose of the Entrance Loan Counseling session is to inform students of their rights and obligations as student loan borrowers. Upon completion of the session, Madison College will be notified that the Entrance Loan Counseling requirement has been met.

Students who received a Federal Stafford Loan while attending Madison College during the previous academic year are not required to complete the Entrance Loan Counseling or MPN again. However, starting in summer 2010, Madison College will transition to the Federal Direct Loan Program which will require all student borrowers to complete a new MPN using the Student Loans website to receive a Federal Stafford or PLUS Loan during or after summer 2010.

For more information about the transition to the Federal Direct Loan Program, please visit the Student Loan Changes web page.

Exit Loan Counseling

Student loan recipients who graduate, drop below half time, or withdraw are required to complete Exit Loan Counseling on the National Student Loan Data System (NSLDS) Student Access website.

The Federal Government requires that students complete Exit Loan Counseling when leaving a college. Upon completion of this one-time session, students must complete an online form, which is forwarded to Madison College via email, notifying the Financial Aid Office that the Exit Loan Counseling requirement is complete.

For additional information on student loans or the student’s online loan account, visit the Student Loans or NSLDS website, respectively.