Sec. 2213.16. Disclosure requirements for participating colleges

(a) Entrance counseling.

For purposes of the program, the corporation shall perform entrance counseling, on behalf of participating colleges, through the program’s financial literacy modules and disclosures used in the application process.

(b) Exit counseling.

For purposes of the program, the corporation shall perform exit counseling, on behalf of participating colleges. As part of exit counseling, the corporation shall provide information on how to obtain the total program loan debt incurred, a reminder that these program loans must be repaid, and the consequences of defaulting on these program loans. Exit counseling shall be performed by the corporation, on behalf of participating colleges, through contact with student borrowers whose principal or principal and interest payments have been deferred during their in-school period, within a reasonable time after the corporation receives notice of the student’s graduation, withdrawal, less than half time enrollment, or transfer to a non-title IV eligible college.