Definitions for "Entrance Interview"
An information session the institution must conduct with the borrower each academic year in which the student receives loan funds. The institution must inform the borrower of his or her rights and responsibilities in incurring the debt and provide details regarding such matters as the amount of the loan, the date repayment must begin, deferment and cancellation provisions, default and its consequences, and the charges connected with making and collecting the loan. Personal borrower information must be collected which will assist in skip-tracing should it be necessary during the collection process. Counseling may be conducted by correspondence if a personal or group interview is not possible. Close
a federally mandated counseling session required of all students applying for any type of federal or institutional loan
a government requirement that must be fulfilled prior to taking your first student loan