Student Presenation 2010

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  • 1 – “activate the EFAN”2 - entrance loan counseling: learn about terms of your loans, repayment, rights and responsibilities3 – any documents necessary to complete your awarding4 – FERPA (explain)5 – Dir Deposit (explain)
  • Log in Page
  • Step 1 for Students = Entrance Counseling
  • Step 2 for students – MPN’s
  • Parents: Step 1 – PLUS requestStep 2 - MPN
  • UT does not endorse any bank or credit union. You can use any financial institution that you wish.
  • BAD DEBT – the payments last longer than the item purchased (food, gas, even football tickets and clothing)GOOD DEBT – house, education. Something that appreciates in value or usefulness outlasts payments
  • Use CC with caution – emergencies (health, auto, family issue) or something that you KNOW you can pay off within 30 days. If you use CC because you don’t have the money to buy something that you WANT, how are you going to pay the CC bill? You’ve already spent future money by using CC to buy something, because you haven’t actually purchased anything – you’ve taken out a loan by using CC.
  • Student Presenation 2010

    1. 1. Longhorns Guide to Financial Aid<br /><ul><li>http://finaid.utexas.edu • (512) 475- 6282</li></li></ul><li>OSFS Services<br /><ul><li>Financial Aid Counseling & Processing
    2. 2. Complete your new FAFSA each year
    3. 3. www.fafsa.ed.gov
    4. 4. Scholarships
    5. 5. www.texasscholarships.org
    6. 6. Bevonomics – money management workshops
    7. 7. www.bevonomics.org
    8. 8. Hire-a-Longhorn – job search
    9. 9. www.hirealonghorn.org</li></li></ul><li>www.fafsa.ed.gov<br />Complete FAFSA each year by the priority deadline: March 31st<br />
    10. 10. Check Finaid Status Online via CASH http://finaid.utexas.edu/cash<br /><ul><li>Review & submit your Financial Aid award notice
    11. 11. Complete any requirements:
    12. 12. Entrance Counseling
    13. 13. Documentation needed
    14. 14. FERPA privacy release
    15. 15. Direct deposit authorization
    16. 16. Report scholarships
    17. 17. Review the status of your funds release</li></li></ul><li>EFAN = Award letter <br /><ul><li> Cost of Attendance (COA)
    18. 18. Tuition
    19. 19. Books
    20. 20. Housing
    21. 21. Transportation
    22. 22. Miscellaneous
    23. 23. Financial aid assists you in paying these costs</li></li></ul><li>Student Loans - Getting Started<br />Use your FAFSA PIN to gain access<br />Requirements listed on “My Profile”<br />
    24. 24. Complete Entrance Loan Counseling<br /><ul><li>Takes 20-30 minutes to complete
    25. 25. Loans will </li></ul>NOT voucher until the counseling requirement <br /> is satisfied<br />
    26. 26. Subsidized/Unsubsidized Direct Loans –Master Promissory Notes <br />
    27. 27. Parent PLUS Loan: two-step process<br />Step 1: PLUS Request Process<br />Step 2: PLUS Loan MPN<br />
    28. 28. Fall T&F bill How Will You Pay For It?<br /><ul><li>See your “My Tuition Bill” page UT Direct
    29. 29. Due August 11thby 5:00pm
    30. 30. Must select payment arrangement:
    31. 31. Click the “Pay with Financial Aid” button
    32. 32. Installment Plan
    33. 33. Check: Electronic Funds Transfer (EFT)
    34. 34. Credit Card: MasterCard & Discover Only
    35. 35. Tuition Loan</li></li></ul><li>“My Tuition Bill “ via UT Direct <br />You must select a payment option in order to secure your classes<br /> Red means classes are not secured Green means classes are secured<br />After<br />Before<br />
    36. 36. Disbursement of Aid<br /><ul><li>When is aid released?
    37. 37. At the start of each semester
    38. 38. See “Funds release” via CASH page
    39. 39. What is paid?
    40. 40. Any outstanding UT debt
    41. 41. (i.e. T&F’s, on-campus housing…)
    42. 42. Where does remaining aid go?
    43. 43. See “Where’s my Check” via UT Direct or “Funds Release” via CASH
    44. 44. Direct Deposited
    45. 45. to update go to “My Bank Info” via UT Direct
    46. 46. Mailed as a paper check
    47. 47. to update go to “My Addresses” via UT Direct</li></li></ul><li>Where to Keep Your Money?<br />Choosing a Bank<br /><ul><li>Location
    48. 48. Fees
    49. 49. ATM Access
    50. 50. On-line Banking
    51. 51. Free Checking</li></li></ul><li>Manage your Money<br /><ul><li>Pay bills on time: tuition, books, rent, utilities
    52. 52. Avoid “bad debt”, such as credit cards, short-term loans
    53. 53. Reduce your financial stress
    54. 54. Budget
    55. 55. Attend a Bevonomics session
    56. 56. Plan ahead
    57. 57. Think about future expenses
    58. 58. Save money for fun stuff
    59. 59. Save 10%</li></ul>Financial Aid refund / 4 months = Monthly Budget<br />Monthly Spending / 4 weeks =<br />Weekly Budget<br />
    60. 60. Bevonomics<br />Workshop Topics:<br /><ul><li> Spending & Saving
    61. 61. Understanding Credit
    62. 62. Guide to Investing
    63. 63. Repaying Student Loans
    64. 64. Guide to Renting & Living in Austin
    65. 65. My First Job: Choosing Benefit Packages
    66. 66. Identity Theft
    67. 67. My First Car</li></ul>See www.bevonomics.org<br /> for Fall 2010 schedule<br />
    68. 68. CAUTION!!!! Credit Cards<br />$4,100 – average college senior’s credit card debt<br />91%of undergraduates have at least one credit card<br />$21,000 – average student loan debt at graduation$28,400 – average price of new car<br />
    69. 69. Needs vs. Wants<br />
    70. 70. Do Free Activities! <br />900+ Student Orgs<br />
    71. 71. Get a Jobwww.hirealonghorn.org<br /><ul><li> Work-study & other</li></ul> part-time jobs<br /><ul><li> Work-study Job Fair:</li></ul> August 30th <br /> 10am -2pm<br /> @ TX Union Ballroom<br /><ul><li> Perks:
    72. 72. On-campus
    73. 73. Flexible
    74. 74. Networking
    75. 75. Resume building
    76. 76. Good pay</li></li></ul><li>Things to Remember<br /><ul><li>Apply for FAFSA each year by the priority deadline
    77. 77. FERPA privacy release authorization
    78. 78. Always check your CASH page
    79. 79. Read all mail / e-mail
    80. 80. Submit all required documentation
    81. 81. Complete Direct Loan promissory notes & entrance counseling online at: https://studentloans.gov</li></li></ul><li>Longhorns Guide to Financial Aid<br />Mon - Fri 8:00am – 5:00pm <br />(512) 475 - 6282<br />Student Services Building (SSB)<br />3rd Floor<br />Find us on Facebook:<br /> University of Texas at Austin Financial Aid Office<br /><ul><li>http://finaid.utexas.edu • (512) 475- 6282</li>

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