In addition to meeting the requirements in 34 CFR 682.604 and 34 CFR 685.304, provide the following information to student borrowers during entrance and exit counseling.

1. Repaying the loan.
• Estimated balance of the borrower's loan(s) when the borrower completes the program.
• Provide students with loan summaries or Web site addresses to locate a complete list of loans. Examples include:
• National Student Clearinghouse Loan Locator - https://www.studentclearinghouse.org/secure_area/loan_locator.asp
• National Student Loan Data System - http://www.nslds.ed.gov/
• Interest rate on the borrower's loan(s).
• The name, address, and telephone number for the borrower's lender.
• Estimated average amount of the borrower's required monthly payments on the loan's balance. (During exit counseling, provide a sample loan repayment schedule based on the borrower's total loan indebtedness.)
• Estimated monthly income that the borrower can reasonably expect to receive in his or her first year of employment based on the education received at the school.
• Estimated date of the borrower's first scheduled payment.
2. Personal financial management and Title IV loans.
• Dissatisfaction with, or nonreceipt of, the educational services being offered by the school does not excuse borrowers from repayment of their Federal Family Education Loan Program or Direct Loan Program.
• Borrowers must inform their lenders immediately of any change of name, address, telephone number, or Social Security number.
• If a borrower is unable to make a scheduled payment, he or she should contact their loanholder before the payment's due date to discuss his or her other repayment options.
• General information about…
• Budgeting of living expenses and other aspects of personal financial management;
• Deferment, forbearance, cancellation, consolidation, and other repayment options, including procedures for obtaining these benefits; and
• The sale of loans by lenders and the use by lenders of outside contractors to service loans.
3. Information about delinquency and default.
• A description of the charges imposed for failure by a borrower to pay all or part of a scheduled payment when it's due.
• The consequences of a borrower's failure to repay a loan, including:
• A damaged credit rating for at least seven years,
• Loss of generous repayment schedule and deferment options,
• Possible seizure of Federal and State income tax refunds,
• Exposure to civil suit,
• Referral of the account to a collection agency,
• Liability for collection costs and attorney's fees,
• Garnishment of wages, and
• Loss of eligibility for further Federal Title IV student assistance.
4. Requesting borrower information.
• During entrance counseling, obtain information from the borrower regarding references and family members beyond those provided on the loan application.
• During exit counseling, obtain updated information from the borrower regarding the borrower's address, the addresses of the borrower's references and family members, and the name and address of the borrower's expected employer.