Federal Direct Loan Entrance Counseling Information

As a condition to receiving a Federal Direct Stafford loan, all first time borrowers (and transfer students) must complete "entrance counseling." The entrance counseling session will provide details about the Federal Direct Loan Program and inform borrowers of their rights and responsibilities.

Contact information: Questions about your rights and responsibilities should be directed to Linda Peets, Loan Clerk at lpeets@stlawu.edu or 315-229-5422.

In addition to the information provided to you during the entrance counseling session, borrowers need to know that:

  • Their financial aid award, including loans, may be adjusted if additional financial assistance is received from any other source, or if new or conflicting eligibility information is received by the Financial Aid Office.

  • Interest accrues on an unsubsidized Federal Direct Stafford loan from date of disbursement. Repayment is deferred while a borrower is an enrolled student on at least a half-time basis. Deferred interest is added to the principal balance of the loan at the time repayment begins. From that time forward, interest will be calculated on the new loan balance. Borrowers may choose to pay interest on an unsubsidized loan while in school.
  • The Student Life Office, Sullivan Student Center Room 238, should be notified if they decide to withdraw from the University. Borrowers will then receive instructions from the Student Financial Services Office on how to complete an exit loan counseling session.
  • They must maintain at least half-time enrollment to keep certain benefits for their loan. If a borrower drops below half-time enrollment, they will enter their six-month grace period.
  • At St. Lawrence University, half-time enrollment is defined as follows:

    Undergraduate Students:

    • fall and spring semester - registration in 3.49 to 1.69 units
    • summerterm - registration in 1.99 to 0.99 units

    Graduate Students:

    • any semester - registration in 11 to 6 credit hours

On average, undergraduate students completing degrees from St. Lawrence University in May 2011 borrowed Federal Stafford loans in the amount of $20,188 (net of loan origination fees). Some students graduate with no debt, while others borrowed Federal Perkins loans and private alternative student loans in addition to their Federal Stafford loans. Total average loan debt from all sources for students completing undergraduate degrees in May 2011 is $28,665.

Below you will find the monthly payment amount and total interest paid on a range of Federal Stafford loan principal balances. The loan payment term is assumed to be 10 years, and the interest rate is 6% or 6.8%.


Monthly Payment

Total Interest


Monthly Payment

Total Interest


at 6%

Paid at 6%


at 6.8%

Paid at 6.8%























































To complete entrance counseling, go to the StudentLoans.gov Web page. St. Lawrence University will automatically be notified when the borrower completes this session.