I sincerely hope there's a FA expert on here. I am worried sick.

I am a parent helping my child enter their first year of college, including making sure all critical deadlines and requirements are met. It wasn't until I had a "hindsight is 20/20" moment, which prompted me to do some additional research, that I realized I may have made a grave error.

One of the missing requirements was the online entrance interview. I very carefully reviewed this information and implicitly discussed all of the details with my child, particularly making sure they understood their role and utmost responsibility in accepting federal aid. I even utilized a financial aid calculator to determine what the estimated monthly payment would be, assuming the federal aid was maxed out and a bachelor's degree was earned.

But I have now learned that this interview is a Federal Stafford Loan requirement that should be handled by the student, and parents are discouraged from doing this process. I don't recall reading anything about this beforehand, or I wouldn't be sitting here feeling wracked.

While I am confident that my child is fully informed and ready, is there any kind of fallout from what has occurred? Is it acceptible and lawful to proceed to the Promissory Note stage at this point?

Thank you.

An entrance interview is required before the loan can be disbursed to the student. Follow the link the school provides and have your child complete it. It's basicially questions that say yes, I know I'm borrowing $ and it has to be repaid, how bad default can be, and how to postpone payments if you're unemployed, etc. The student can read thru the info on the site before completing. If not enough answers are correct, the student will have to try again.

I had to go to a 2 hour seminar at my school where they explained student loans at length - the school would not dispurse my loans until I had done that but I could apply for the loans without it. Just wouldnt receive any money until it was done. Contact your childs school and ask what the requirements are for dispersment.