New loan borrowers must complete loan entrance counseling before receiving a loan at Glendale Community College. The loan counseling will consist of an in person loan workshop that new loan borrowers must attend. Students can sign up for the Loan Workshop at the Financial Aid Office. New loan borrowers will also be asked to complete the online loan counseling session offered by the US
Department of Education at www.studentloans.gov.

The Loan Workshop and online loan counseling covers all the elements of loan counseling including:

1. Terms and conditions of the loan and of the borrower’s responsibilities
2. The effect of the loan on the eligibility of the borrower for other forms of aid
3. An explanation of the use of the Master Promissory Note
4. The seriousness and importance of the students’ repayment obligation
5. Information on the accrual and capitalization of interest
6. Borrowers of unsubsidized loans have the option of paying interest while in school
7. Definition of half-time enrollment and the consequences of not maintaining half-time enrollment
8. Importance of contacting appropriate offices if student withdraws prior to completion of program of study
9. Sample monthly repayment amounts
10. The obligation of the borrower to repay the full amount of the loan regardless of whether the borrower complete program or completes within regular time for completion, is unable to obtain employment upon completion, or is otherwise dissatisfied with or does not receive the educational or other services the borrower purchased from the school
11. Consequences of default
12. Information about the NSLDS and how the borrower can access the borrowers records
13. Name and contact information for individual the borrower may contact with questions about the borrower’s rights and responsibilities or the terms and conditions of the loan