Direct Loan Program

Loan Counseling

If you would like to receive or have received Federal Direct loans as part of your financial aid award, you are required to complete certain federal requirements.

Entrance Counseling

You must complete Entrance Counseling and Master Promissory Note (MPN) on the Student Loans website before receiving your first Direct loan. The purpose of the Entrance Counseling session is to inform you of the responsibilities and the obligations you are assuming by borrowing Direct loans. Upon completion of the session, Madison College will be notified that the Entrance Counseling requirement has been met within 24-48 business hours.

If your Entrance Counseling was completed at a prior school, it must be completed for Madison College. Students that have previously borrowed Direct loans should complete Financial Awareness Counseling on the Student Loans website.

Exit Counseling

You must complete Exit Counseling on the Student Loans website if you have received Stafford loan(s) and you graduate, drop below half-time status, or withdraw. The purpose of Exit Counseling is to inform you of your obligations and options regarding the repayment of your Stafford loan(s). Upon completion of the session, Madison College will be notified automatically within 24-48 business hours that the Exit Counseling requirement has been met.

Questions? Visit askMadisonCollege to view frequently asked Financial Aid questions, submit a Financial Aid Category question, access the Financial Aid Tutorials for step-by-step instructions on related processes, or contact Madison College Financial Aid at (608) 246-6170.