College of Arts & Sciences

Loan Entrance and Exit Counseling

Students should be careful to avoid borrowing excessively. A reasonable monthly student loan payment should not exceed 8-10 percent of one's monthly gross income. (You may use the Budget Calculator and Loan Payment Calculator on the Federal Student Aid website.)  See the chart at the bottom of this page for sample loan repayment amounts.

The average student loan debt of borrowers who graduated from the College of Arts & Sciences in the spring of 2008 was $30,747 (about 75% of graduates from the class of 2008 borrowed a student loan.) Assuming a 6.8 percent interest rate and 10 years to repay their loans, average CAS student borrowers will make monthly loan payments of $353.83.

Loan Entrance Counseling

Prior to borrowing their first Stafford or Perkins educational loan at Bethel, students are required to complete loan entrance counseling to ensure they understand their rights and responsibilities. Borrowers must complete this online counseling prior to the disbursement of their loan.

Remember to complete entrance counseling for each type of loan you will use.

• Direct Stafford Loan Entrance Counseling (Federal Student Loan Servicing website)
• Perkins Loan Entrance Counseling (Mapping Your Future website)
• Optional SELF Loan Entrance Counseling (Minnesota Office of Higher Education website)

Loan Exit Counseling

Upon graduation (or dropping below half-time status), students will complete loan exit counseling to prepare for entering repayment. Select one of the following links for online loan counseling.

• Stafford Loan Exit Counseling (Mapping Your Future website)
• Perkins Loan Exit Counseling (UAS Exit Interview website)