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Stafford Entrance Counseling

Bethel University in St. Paul, MN

Bethel University 

As a first-time Federal Stafford student loan borrower, you must complete this loan entrance counseling.  This session informs you of the loan terms and of your rights and responsibilities as a borrower.  Federal regulations require us to counsel you prior to your receiving your loan money. Bethel University will be notified once you have completed this loan entrance counseling.

Students should endeavor to avoid borrowing excessively.  A reasonable monthly student loan payment should not exceed 8-10% of one's monthly gross income.

Sample Loan Repayment Chart Based on 10 year Repayment Period

Loan Type

Stafford Loans

Grad PLUS Loans

Interest Rate

6.80%

8.50%

Amount Borrowed

Estimated Monthly Payment

Estimated Monthly Payment

$ 3,500

$ 50

$ 50

$ 5,500

$ 63

$ 68

$ 10,500

$ 121

$ 130

$ 20,000

$ 230

$ 248

$ 25,000

$ 288

$ 310

$ 40,000

$ 460

$ 496

$ 50,000

$ 575

$ 620

$ 75,000

$ 863

$ 930

$ 100,000

$ 1,151

$ 1,240

$ 138,000

$ 1,588

$ 1,711

The average student loan debt of Bethel University borrowers who graduated from the College of Arts & Sciences in the spring of 2007 was $28,000 (about 75% of graduates from the class of 2007 borrowed a student loan). Assuming a 6.8% interest rate and ten years to repay their loans, average student borrowers will make monthly loan payments of $322.22.

To be eligible for a Stafford loan, you must be enrolled as at least a half-time student.  Half-time status is 6 credits for students in Bethel University's College of Arts & Sciences and College of Adult & Professional Studies, 4 credits for Bethel Seminary students and 3 credits for students in Bethel's Graduate School.

A student who withdraws from all classes at Bethel University must notify the Office of Student Life to fill out the required withdrawal forms.

If you are borrowing a Federal Perkins loan or a Minnesota SELF loan you must also complete loan entrance counseling for these loans.  After you have completed this session, return to the Bethel University Financial Aid website for links to the other loan counseling sessions ( http://www.bethel.edu/finaid/counsel ).

After completing this loan counseling session, if you have further questions regarding borrower's rights and responsibilities and loan terms and conditions,  please contact Cheryl Fernandez in the Bethel Office of University Financial Aid by telephone at 651.638.6241 or by email at finaid@bethel.edu .
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.


Stafford Entrance Counseling Session 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.

NOTICE: The information you provide for loan counseling may be disclosed to third parties, such as your lender, lender servicer, school servicer, subsequent loan holder, or guarantor, as authorized under routine uses in the appropriate system of records and as may be authorized or required by federal regulations.