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First Time Borrower Entrance Loan Counseling

First time federal Direct student loan borrowers must participate in an entrance loan counseling session and must complete the Master Promissory Note (MPN) before funds are applied to their college bills.

To satisfy the entrance loan counseling requirement, go to, and click on the Undergraduate Students tab. Here you will find the Complete Entrance Counseling link.

During an entrance counseling session, you will:

  • be given an explanation of the use of the Master Promissory Note (MPN);
  • learn about the seriousness of default, including adverse credit reports and other consequences of default;
  • learn about the average indebtedness of other borrowers at Springfield College;
  • learn about the difference between subsidized and unsubsidized loans;
  • learn about the various repayment plans;
  • learn about the accrual and capitalization of interest;
  • learn about the right to pay interest while in school;
  • learn of the importance of contacting appropriate offices if student withdraws prior to completion of program;
  • be given sample monthly repayment amounts;
  • be given information about NSLDS; and
  • learn that the borrower must repay the full amount of the loan regardless of whether the borrower completes the program, is unable to obtain employment, or is dissatisfied with the education one receives or does not receive from the school.

Entrance loan counseling is a one-time requirement. You will not need to do the counseling again for future federal Direct loans.

If, after completing the online counseling, you have questions related to the federal Direct loan program or your student loan, please contact the Office of Financial Aid.