Student  Presenation 2010
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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 Student Presenation 2010 Presentation Transcript

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