Direct Loan Entrance Counseling
Anoka Technical College in Anoka, MN
WELCOME TO STAFFORD LOAN ENTRANCE COUNSELING
This is the second step in the process of applying for a student loan. By now, you should have completed the Free Application For Federal Student Aid (FAFSA) and received an award letter from the Financial Aid Office notifying you of student loan eligibility. If you have not yet completed a FAFSA, please do so before continuing with the entrance counseling. Federal regulations require all Federal Stafford Loan borrowers to complete an entrance counseling session before receiving the first loan disbursement.
Enrollment Requirements: You must be enrolled in, and currently attending, at least 6 credits to be eligible for this loan.
Here are some examples of monthly repayment timelines and amounts:
Estimated Monthly Payments - Stafford Loans
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6.00 %
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6.80%
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Amount Borrowed
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Number of Payments
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Estimated Monthly Payment
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Total Interest Paid
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Number of Payments
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Estimated Monthly Payment
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Total Interest Paid
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$ 3,500
|
87
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$ 50
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$ 819
|
90
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$ 50
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$ 971
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$ 4,500
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120
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$ 50
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$ 1,493
|
120
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$ 52
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$ 1,714
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$ 5,500
|
120
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$ 61
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$ 1,827
|
120
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$ 63
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$ 2,096
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$ 6,500
|
120
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$ 72
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$ 2,160
|
120
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$ 75
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$ 2,476
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$ 7,500
|
120
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$ 83
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$ 2,492
|
120
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$ 86
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$ 2,857
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$ 8,500
|
120
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$ 94
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$ 2,824
|
120
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$ 99
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$ 3,238
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$ 9,500
|
120
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$ 105
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$ 3,156
|
120
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$ 109
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$ 3,619
|
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$10,000
|
120
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$ 111
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$ 3,322
|
120
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$ 115
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$ 3,810
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|
$!5,000
|
120
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$ 167
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$ 4,984
|
120
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$ 173
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$ 5,714
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$20,000
|
120
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$ 222
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$ 6,645
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120
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$ 230
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$ 7,619
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$25,000
|
120
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$ 278
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$ 8,306
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120
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$ 288
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$ 9,524
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$30,000
|
120
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$ 333
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$ 9,967
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120
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$ 345
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$11,429
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Note: When you get to the confirmation page at the end of the counseling session, you must click the "Exit" button to continue with the Master Promissory Note electronic signature process.
If you have any questions regarding the loan application process, please contact Shawn Reynolds at the Anoka Technical College Financial Aid Office at (763) 576-4760 or finaid@anokatech.edu.
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MYF Disclaimer:
The information above is wholly the product of the school represented herein.
Mapping Your Future, and its individual sponsoring members, do not guarantee
or warrant the correctness, completeness, accuracy, or any other characteristic
of this content and shall not be liable for any loss, damage, or cause of
action arising out of the content.
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Instructions
Before You Start
- Ensure you meet the browser and system requirements:
- You must use at least Internet Explorer 6.0 or Mozilla Firefox 1.0. Get a browser now.
- You can use any Internet service provider (ISP) to connect to the Internet; however, you should access this counseling session using one of the browsers above after you've connected. Do NOT use the ISP's browser, such as AOL or MSN--you won't be able to complete the student form at the end of the session!
- You must enable JavaScript in your browser.
- PARENTS: Please don't complete the counseling session on behalf of your son or daughter, as this federal requirement helps the student understand the rights and responsibilities of borrowing a student loan.
- You will need about 25 minutes to complete this counseling session.
- You will need the following information:
- Your Social Security number
- Your driver's license number
- You might need the following information:
- Name, address, telephone number, and employer for your spouse, if applicable
- Names, addresses, telephone numbers, and employers for your next of kin and/or parent
- Names, addresses, telephone numbers, and employers for two references residing at different addresses
- NOTE: Providing names and information for your spouse, parent, next of kin, and references does not obligate them to assist with repayment of your loan. Regulations require you provide this data so your loan holder can locate you, if, in the future, they have an invalid address or phone number.
- The student loan calculator in this session will help you calculate your estimated monthly payment. If you aren't sure how much you'll borrow, you can ask your school for the average student loan indebtedness of borrowers at the school or in your program of study at the school.
What to Do
- Read the content and answer the questions.
- Fill out the student information form. Use the comment box for any comments or questions you have for your school.
- Print the confirmation page that appears after you fill out the student information form or note your confirmation number for your records.
NOTE: Generally, the Back and Forward buttons on your browser will not work once you begin the counseling session. Use the buttons within the counseling to navigate.
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