© Copyright 2011 Guy’s Academy Hair, Skin & NailsDIRECT LOAN ENTRANCE AND EXIT COUNSELINGGuy’s Academy requires Entrance and Exit Counseling for any student applying for Direct Loans, and will not originate any loan without documentation that counseling has been completed. Exit counseling will be done near the end of the program and is a requirement before students will be cleared for State Board Testing. In the case of a withdrawal or termination, exit counseling materials will be sent certified, return receipt requested, to the students address on file.Entrance and Exit Counseling includes, but is not limited to, the following:￢an explanation of the use of a master promissory note (MPN)￢importance of repayment obligations, and available options￢description of consequences of default￢sample repayment schedules￢information pertaining to a borrower’s rights and responsibilities￢debt management and tax benefits￢budgeting based on student’s minimum salary requirementsLOAN PAYMENT CALCULATORThe loan payment calculator may be used to calculate monthly payments under the Standard and Extended Repayment Plans. Choose one of the following website to access a loan payment calculator: finaid.org/calculators/loanpayments.html or ed.gov/offices/OSFAP/DirectLoan/calc/html ed.gov/offices/OSFAP/DirectLoan/calc/html ed.gov/offices/OSFAP/DirectLoan/calc/html
