Student loan debt presents a crushing burden for many individuals and families across the country, and part of the solution is giving borrowers more information on their financial responsibilities. By undergoing required annual counseling, student loan borrowers will make better financial decisions rather than only thinking about their obligations when they enter and exit their programs.
Existing entrance and exit counseling for student loan borrowers is good enough, they can do additional research on things like income and employment data on their own without mandatory annual counseling. There’s no need for families with Parent PLUS loans or students receiving Pell Grants to get annual counseling.