Steps to Apply for Financial Aid

Entrance Counseling

Borrowing money for school is a serious, long-term, financial obligation. We want to insure that all borrowers learn how to handle their finances so that they are in a position to repay their loan debts after they leave Lasell College. The Department of Education mandates that all first time Federal Direct Student Loan and Federal Grad PLUS borrowers complete an "entrance counseling" session before receiving their first loan. Loan proceeds can not be credited to students' accounts until they fulfill this requirement.

This tutorial will walk you through some of the major sections of the NEW online exit counseling program on the website.

Federal Direct Stafford Loan / Grad PLUS Online Entrance Counseling

Sign on to the site. The log in page will request your Social Security Number, Name, Date of Birth and Federal Student Aid PIN Number. Through the Entrance Counseling process, borrowers will learn about: Students who are borrowing for the first time under the Direct Stafford or "Grad PLUS" programs must complete a Master Promissory Note.

Entrance Counseling

The first page will ask borrowers to identify themselves as either an undergraduate or graduate student. All graduate students will automatically also complete counseling for the GradPLUS Program.


Entrance Counseling

Borrowers will then review some basic information and "Helpful Hints" for completing the module.


Entrance Counseling

You can choose up to three schools to receive results from your Entrance Counseling session.


Entrance Counseling

Borrowers will then complete a training session on a series of topics. At the end of each topic, the borrower must complete several quiz questions.


Entrance Counseling

You're DONE! Borrowers are able to print a confirmation page when they have completed the training modules. Once a borrower completes an Entrance Counseling session on the website an "Entrance Counseling Acknowledgement" will be electronically sent to the schools listed in Step 4.


Entrance Counseling

Students who are borrowing for the first time under either the Direct Stafford or Grad PLUS Programs must complete a Master Promissory Note as the final step in the application process.


Graduate students are awarded as they complete the Free Application for Federal Student Aid (FAFSA) if they are pursuing federal student loans, and the Graduate Financial Aid Agreement form for financial aid as well as being admitted to the college.


Free Application for Federal Student Aid:

7 Steps to completing the FAFSA:

Graduate Financial Aid Agreement


The FAFSA simplified:
7 Steps to completing the FAFSA:

Other resources: includes interactive calculators, estimators, discussion groups, scholarship search links, and a listing of financial aid resources. - provides free scholarship search with more than 400,000 scholarship sources. - provides information on the college application process and financial aid from the Massachusetts Higher Education Information Center. - provides links to information on federal financial aid programs from the Department of Education. - link to the online version of the Free Application for Federal Student Aid. use to request a PIN for the first time to apply online for the FAFSA, or to request another copy of the PIN already assigned, or to change the PIN already assigned. - provides real time information regarding loan borrowing history, where and how much a student has borrowed, and through what programs to assist students with debt management. - link to the Massachusetts Department of Education

Exit Counseling

Students who have borrowed under the Federal Direct Stafford Loan Program must complete an "Exit Loan Counseling " session during their final semester. Effective July 1, 2008, students who have borrowed under the Federal Grad PLUS Loan must also complete an "Exit Counseling" session. The U.S. Department of Education wants to insure that students review the terms of their loan and understand their rights and responsibilities under this program as they enter repayment.

This tutorial will walk you through some of the major sections of the NEW online exit counseling program on the National Student Loan Data System for Students ("NSLDS") website.

Federal Direct Stafford Loan / Grad PLUS Online Exit Counseling

Sign on the the NSLDS site

Students may complete an Exit Counseling session for both Federal Direct Stafford and "Grad PLUS" loans and submit completion information directly to the Department of Education.

NSLDS Exit Counseling

The Welcome Page includes options to tour the web site or immediately start the counseling session. The "Progress Box" on the right will track your progress through the site.

NSLDS Exit Counseling

The log in page will request your Social Security Number, Name, Date of Birth and Federal Student Aid PIN Number.

NSLDS Exit Counseling
Use the drop down menu and choose "Massachusetts" and then "Lasell College."

NSLDS Exit Counseling

You will then need to complete several short quiz pages on major concepts concerning loan repayment. You MUST answer each questions. The correct answers will be displayed after you hit the "submit" button.

NSLDS Exit Counseling

Know Who Will Be Sending You A Bill: The Loan Summary Page will display all your federal Direct Stafford Loans and Grad PLUS loans that have been reported by every post-secodary school you have attended to the NSLDS system. You can get detailed loan information by clicking on the number link.

Please check this information for all your loans. On March 25, 2010, the U.S. House of Representatives and the U.S. Senate passed The Health Care and Education Affordability Reconciliation Act of 2010 ("HCEARA"-H.R. 4872) . This bill makes major changes in several federal student aid programs AND mandates that, effective July 1, 2010, all federal student loans (Stafford, PLUS, and Grad PLUS) will be originated through the Federal Direct Loan Program. The Family Federal Education Loan Program, which permitted private lenders to originate these loans, was eliminated effective June 30, 2010. Therefore, many of our students may have loans with different loan servicers.

NSLDS Exit Counseling

Know Your Repayment Options

The Repayment Options Page displays:

  • Sample repayment information for various debt amounts
  • Monthly and Total Payments under different Repayment Plans . Pay particular attention to information about the Income Based Repayment Plan and Public Service Loan Forgiveness.
  • Non-Consolidated and Consolidated Loan Payment Plan estimates

NSLDS Exit CounselingCalculate Your Monthly Payments

The Estimating Payment Page features:

  • The option to change your loan balance due and recalculate your payments (if you are continuing on to graduate school )
  • Adjust your projected Federal Adjusted Gross Income ("AGI"), Marital Status, Family Size, Residence and recalculate your projected payments

NSLDS Exit Counseling
Calculate a Budget

The Budget Calculator page assists borrowers in:

  • Developing a budget
  • Totaling monthly expenses
  • Comparing expenses to expected salary

NSLDS Exit Counseling
You are almost done!

Reference Page: References will only be contacted IF a borrower moves and fails to update his/ her address with the Department of Education. This information must be completed by the borrower. References have no legal liability for your loan. You will need to provide complete address information for three references (one should be your parents or another relative).

NSLDS Exit Counseling

Borrowers will also be asked to provide the following optional information:

  • Employer
  • E-mail
  • Driver’s License Number and Driver’s License State

NSLDS Exit CounselingReview Your Rights and Responsibilities one final time!





NSLDS Exit Counseling
Congratulations! If you see this page, you are done! (Note: the following is a page is a test sample and not information on a "real" student)