Entrance Loan Counseling
In order to receive a Federal Direct Loan at TU, federal regulations require all students who have not previously borrowed a Federal Direct and/or FFEL (Federal Family Education Loan) Loan complete entrance counseling at least once. In addition to Federal Direct and/or FFEL Loan entrance counseling, graduate students borrowing a Graduate Plus Loan must also complete Graduate Plus entrance counseling.
- Students receiving Stafford and Graduate Plus Loans through the Department of Education, Entrance Loan Counseling will need to be completed.
- For Perkins Entrance Counseling please refer to the section Perkins Loans for entrance counseling requirements.
Entrance Counseling is designed to help you better understand the terms and conditions of the loan you are about to borrow and your rights and responsibilities when you borrow from the federal government. When you complete the Master Promissory Note (MPN), you are agreeing to repay all the loans made to you.
You will need to complete entrance counseling and a Federal Direct Loan Master Promissory Note only once to cover all Federal Direct Subsidized and Unsubsidized Loans that you borrow for up to 10 years, and once for Graduate Plus Loans.
Failure to complete these requirements will keep your loan funds from crediting to your student account.
If you have any questions or concerns about your Federal Direct Loans as you complete the entrance counseling and the Master Promissory Note, please contact:
The University of Tulsa
Student Financial Services
800 South Tucker Drive
Tulsa , Oklahoma 74104 -9700
After you have printed the Rights and Responsibilities Checklist from the entrance counseling, go to the Entrance Counseling Guide for Direct Loan Borrowers. This should be viewed after completing the entire process.
Exit Loan Counseling
Federal regulations require a student must complete exit counseling upon ceasing at least half-time attendance, withdrawing or graduating regardless if you plan to later enroll at TU or transfer to another school.
For the definition of half-time enrollment and an explanation of the TU withdrawal process, please refer to Withdrawal Information.
To insure you are in compliance with federal regulations and that you do not risk defaulting on your federal loans, you will need to complete the corresponding exit loan counseling.
As long as you have unpaid student loan balances, it is very important you keep your servicer and/or the Federal Student Loan Servicing informed of your current address and phone number so they can send you repayment information. Please pay careful attention to all correspondence received from your servicer(s). It is equally important you contact your servicer(s) if you need to change your repayment amount and/or plan due to a change in circumstances. They will make every effort to work with you to avoid default. The consequences of defaulting on your student loans are very serious and can be avoided by effective communication with your servicer(s).
If you have both types of loans (FFEL or Direct), you will have at least two monthly payments to make: one to your FFEL servicer and the other to Direct Loans. It may be to your advantage to consolidate your loans so you only have to work with one servicer and have only one monthly payment. There is no additional cost to consolidate these two types of loans.
The following links provide loan history information as well as different types of repayment plans, estimated monthly payments, and Direct Loan Consolidation:
After you have printed the Rights and Responsibilities Checklist from the exit counseling, go to the Exit Counseling Guide for Direct Loan Borrowers. This should be viewed after completing the entire process.