FACT – No Substitute For Loan Counseling

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A few weeks ago, I posted an article about the U.S Department of Education’s new Financial Awareness Counseling Tool or FACT. Apparently there has been some confusion about the tool, and some of you mistakenly thought that completing this program satisfied your school’s entrance or exit loan counseling requirements.

The U.S. Department of Education is working on changing their website to clarify this, however in the meantime, keep in mind that if your school requires you to use www.studentloans.gov for entrance or exit counseling, you will want to be sure you are completing the right program.