A groups of presentations regarding federal loan debt, repayment, and what to do if you cannot make payments. Also includes specific information for programs at UNTHSC and their cost of attendance, disbursement and budgeting.
The Ultimate Guide to Student Loan RepaymentAnik Khan
This presentation is designed for the 44M Americans with student loans. It provides a comprehensive overview of student loan repayment options from pausing payments to income-driven repayment plans and refinancing. It also demonstrates how to objectively evaluate different repayment options and gives tips on how to think about repayment in the context of other financial objectives and decisions.
It’s no secret that postsecondary education is an investment, but do you find yourself asking how much it will really cost and wondering how you will pay for it?
We’ll help you determine the true cost of education after high school and go over all your options for payment – from scholarships and grants to financial aid and student loans. We’ll also cover the topic of timing – when you should begin looking into your options and what to expect from the application process.
December 2014 Student Loan Seminar PresentationKristina Flores
Prospera Credit Union (https://myprospera.com) is a local credit union that now serves a four-county area and is strong enough to provide you with everything you need, yet small enough to know you personally and care about your and your family's prosperity. When you choose Prosepra, you become a member, not just a customer. Part of a family. A family that works together for everyone's benefit.
Prospera Credit Union's history dates back as far as 1934, when it was officially opened for business under the Banta Credit Union name. Over the years, the number of people eligible to join was expanded to include nearby counties and communities. In 2002, the name was changed to Prospera, but, our basic promise to our members has always been the same.
What's your LIFEstage?
We provide personal, tailored guidance that leads to prosperity for all our members. (https://myprospera.com/lifestages)
Starting On Your Own
Singles
Couples
Parenting Young Children
Parenting with Teenagers
Empty Nesters
Retireees
Divorce
Widow / Widower
Our services include:
Home Loans, Home Loan Rates and Current Mortgage Rates
Home Equity Loans
Auto Title Loans as well as Boat and RV Loans
Credit Cards
Personal Loans
Protection Plans
Loan Appllications
Free Bill Pay
Interest Bearing Checking
Overdraft Protection
Automatic Overdraft Transfer
Team and Club Community Checking
Share Savings
CDs, IRAs & Money Markets
Checking, Savins, CD and Money Markets
Investment Products and Services
Business Rates
Auto Calculators
Mortgage Calculators
Looking for a way to contact us? Please call us at 920-882-4800 or fill out the below contact form on our website (https://myprospera.com/contact-us)
Come visit us at one of our four locations:
Appleton Branch - 4830 N. Ballard Rd. Appleton, WI 54913
Neenah Location - 934 S. Green Bay Rd. Neenah, WI 54956
Menasha Location - 849 Warsaw St. Menasha, WI 54952
Darboy Location - N9660 County Rd. N Appleton, WI 54915
The Ultimate Guide to Student Loan RepaymentAnik Khan
This presentation is designed for the 44M Americans with student loans. It provides a comprehensive overview of student loan repayment options from pausing payments to income-driven repayment plans and refinancing. It also demonstrates how to objectively evaluate different repayment options and gives tips on how to think about repayment in the context of other financial objectives and decisions.
It’s no secret that postsecondary education is an investment, but do you find yourself asking how much it will really cost and wondering how you will pay for it?
We’ll help you determine the true cost of education after high school and go over all your options for payment – from scholarships and grants to financial aid and student loans. We’ll also cover the topic of timing – when you should begin looking into your options and what to expect from the application process.
December 2014 Student Loan Seminar PresentationKristina Flores
Prospera Credit Union (https://myprospera.com) is a local credit union that now serves a four-county area and is strong enough to provide you with everything you need, yet small enough to know you personally and care about your and your family's prosperity. When you choose Prosepra, you become a member, not just a customer. Part of a family. A family that works together for everyone's benefit.
Prospera Credit Union's history dates back as far as 1934, when it was officially opened for business under the Banta Credit Union name. Over the years, the number of people eligible to join was expanded to include nearby counties and communities. In 2002, the name was changed to Prospera, but, our basic promise to our members has always been the same.
What's your LIFEstage?
We provide personal, tailored guidance that leads to prosperity for all our members. (https://myprospera.com/lifestages)
Starting On Your Own
Singles
Couples
Parenting Young Children
Parenting with Teenagers
Empty Nesters
Retireees
Divorce
Widow / Widower
Our services include:
Home Loans, Home Loan Rates and Current Mortgage Rates
Home Equity Loans
Auto Title Loans as well as Boat and RV Loans
Credit Cards
Personal Loans
Protection Plans
Loan Appllications
Free Bill Pay
Interest Bearing Checking
Overdraft Protection
Automatic Overdraft Transfer
Team and Club Community Checking
Share Savings
CDs, IRAs & Money Markets
Checking, Savins, CD and Money Markets
Investment Products and Services
Business Rates
Auto Calculators
Mortgage Calculators
Looking for a way to contact us? Please call us at 920-882-4800 or fill out the below contact form on our website (https://myprospera.com/contact-us)
Come visit us at one of our four locations:
Appleton Branch - 4830 N. Ballard Rd. Appleton, WI 54913
Neenah Location - 934 S. Green Bay Rd. Neenah, WI 54956
Menasha Location - 849 Warsaw St. Menasha, WI 54952
Darboy Location - N9660 County Rd. N Appleton, WI 54915
Watch our webinar about financial planning for women in the education community.
Some of the topics covered include:
How different life changes affect a woman’s finances
How to take control of your money
Understanding your investment options
The financial effects of future care giving duties
How to protect you and your family
Ways to become more financially savvy
It’s a live, web-based show hosted by Bruce Sellery, a former BNN anchor, and Lisa Raponi, a Certified Financial Planner.
Do you know all of the financial decisions you need to make before you retireEducatorsFG
Do you know all of the financial decisions you need to make before you retire?
Do you (or will you) have enough savings to live the retirement lifestyle you want?
Are you aware of the top five OTPP misconceptions?
In this 45-minute interactive webinar, we’ll provide you with the key information you need when it comes to your retirement income – plus we’ll answer your questions and dispel some of the popular myths along the way.
Featuring: Michael Spohn, Financial Planner – Educators Financial Group
With Special Guest: Michael McAllister, Director of Client Services – OTPP
Moderated by: Bruce Sellery, financial journalist and former BNN anchor
The free Your Money Your Goals (YMYG) Toolkit designed by the Consumer Financial Protection Bureau (CFPB) makes it easy and customizable to set client financial goals, choose financial products and build money management skills for social service providers who aren’t experienced with such things. Neighborhood Partnerships is part of a team charged with getting the toolkit in the hands of more Oregonians.
are you prepared for any sudden changes to your financial situation?EducatorsFG
From unforeseen car or home repairs that could potentially cut into your cash flow, to unexpected income disruptions or changes that might result from contract talks — are you prepared for any sudden changes to your financial situation?
What about your long-term financial goals? The house you want to buy or fix up? The trips you want to take? The dreams you have for retirement?
In this 45-minute webinar and you will come away with the educator-specific solutions you need to be prepared during these uncertain economic times.
Featuring: Michael Spohn, Financial Planner – Educators Financial Group
Moderated by: Bruce Sellery, financial journalist and former BNN anchor
CSAs – Join the Campaign to Create a State Mechanism for Children’s Savings A...NeighborhoodPartnerships
Across the country, the asset building community is abuzz with excitement about Children’s Savings Accounts (CSAs). CSAs provide an opportunity for communities to invest early in the futures of their children by opening a savings account for each child. Evidence is mounting that CSAs are a powerful tool to increase early academic success, success in college and create lifetime savings habits. Oregon communities need a tool like this. Come join our effort to build a legislative campaign in 2017 to increase opportunity for Oregon’s children.
Jill Winsor, Neighborhood Partnerships
Elena Fracchia, United Way of Lane County
Nancy Yuill, Innovative Changes
The journey of a thousand miles begins with a single step. Starting borrowers off on the right foot as they leave school sets them up for success during repayment. Discover ways to make the most of the grace period – the time-frame right after a student leaves school and before the first loan payment is due. Learn about the latest best practices for communication during the grace period and how to help borrowers compare repayment plans.
Watch our webinar about financial planning for women in the education community.
Some of the topics covered include:
How different life changes affect a woman’s finances
How to take control of your money
Understanding your investment options
The financial effects of future care giving duties
How to protect you and your family
Ways to become more financially savvy
It’s a live, web-based show hosted by Bruce Sellery, a former BNN anchor, and Lisa Raponi, a Certified Financial Planner.
Do you know all of the financial decisions you need to make before you retireEducatorsFG
Do you know all of the financial decisions you need to make before you retire?
Do you (or will you) have enough savings to live the retirement lifestyle you want?
Are you aware of the top five OTPP misconceptions?
In this 45-minute interactive webinar, we’ll provide you with the key information you need when it comes to your retirement income – plus we’ll answer your questions and dispel some of the popular myths along the way.
Featuring: Michael Spohn, Financial Planner – Educators Financial Group
With Special Guest: Michael McAllister, Director of Client Services – OTPP
Moderated by: Bruce Sellery, financial journalist and former BNN anchor
The free Your Money Your Goals (YMYG) Toolkit designed by the Consumer Financial Protection Bureau (CFPB) makes it easy and customizable to set client financial goals, choose financial products and build money management skills for social service providers who aren’t experienced with such things. Neighborhood Partnerships is part of a team charged with getting the toolkit in the hands of more Oregonians.
are you prepared for any sudden changes to your financial situation?EducatorsFG
From unforeseen car or home repairs that could potentially cut into your cash flow, to unexpected income disruptions or changes that might result from contract talks — are you prepared for any sudden changes to your financial situation?
What about your long-term financial goals? The house you want to buy or fix up? The trips you want to take? The dreams you have for retirement?
In this 45-minute webinar and you will come away with the educator-specific solutions you need to be prepared during these uncertain economic times.
Featuring: Michael Spohn, Financial Planner – Educators Financial Group
Moderated by: Bruce Sellery, financial journalist and former BNN anchor
CSAs – Join the Campaign to Create a State Mechanism for Children’s Savings A...NeighborhoodPartnerships
Across the country, the asset building community is abuzz with excitement about Children’s Savings Accounts (CSAs). CSAs provide an opportunity for communities to invest early in the futures of their children by opening a savings account for each child. Evidence is mounting that CSAs are a powerful tool to increase early academic success, success in college and create lifetime savings habits. Oregon communities need a tool like this. Come join our effort to build a legislative campaign in 2017 to increase opportunity for Oregon’s children.
Jill Winsor, Neighborhood Partnerships
Elena Fracchia, United Way of Lane County
Nancy Yuill, Innovative Changes
The journey of a thousand miles begins with a single step. Starting borrowers off on the right foot as they leave school sets them up for success during repayment. Discover ways to make the most of the grace period – the time-frame right after a student leaves school and before the first loan payment is due. Learn about the latest best practices for communication during the grace period and how to help borrowers compare repayment plans.
On January 24, members of Freestar Financial attended a Mortgage Mixer Event. The Vice President of Lending, Jennifer Martines and Realtor, Peter Toering presented the importance of having a good credit score and the documentation you will need in order to start a mortgage application.
Escape Student Loan Debt: How to Minimize Your Re-paymentsSteve Miller, CFA
Learn how to develop a strategy to optimize repayment of your student loans. An introduction is provided to the variety of federal and private loan programs available to reduce or eliminate your student loan debt.
Understanding your credit score and what factors impact that score are crucial tools for building a healthy credit rating.
Your credit score determines how much you will pay in interest rates to borrow money or even whether you will even get financing in the first place. Credit reports are also used to decide whether to provide you with insurance, housing, and utilities. Even many employment decisions are based on your creditworthiness.
A higher credit score makes you a lower risk to lenders, which, in turn, means you are more likely to get credit or insurance—or pay less for it. It also means you are more likely to get that dream job you worked so hard to achieve.
Keep reading and learn to understand, manage, and improve your credit rating.
Supersize that IDA: How enhancing your programs with credit building can achi...NeighborhoodPartnerships
Credit building accelerates asset building. Participants in this session will learn the value of credit building as an asset building strategy and an opportunity for strengthening your clients’ financial capabilities. Participants will learn about what credit building is and basic considerations for integrating credit building into your programs. We will explore credit building innovations including a pilot program here in Oregon that helps clients automatically build credit while fulfilling their IDA savings plan.
Sarah Chenven, Credit Builders Alliance
Nancy Yuill, Innovative Changes
Century Negotiations Inc provides debt relief services to families and individuals struggling with unsecured debts.
They've been in business since 2003 and they have an A+ rating with the Better Business Bureau as of July 2014.
They seem to be a decent company.
If you're interested in learning more about them on BestDebtCompanys.com, you can find their profile at the link in the slides above.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
Honest Reviews of Tim Han LMA Course Program.pptxtimhan337
Personal development courses are widely available today, with each one promising life-changing outcomes. Tim Han’s Life Mastery Achievers (LMA) Course has drawn a lot of interest. In addition to offering my frank assessment of Success Insider’s LMA Course, this piece examines the course’s effects via a variety of Tim Han LMA course reviews and Success Insider comments.
Instructions for Submissions thorugh G- Classroom.pptxJheel Barad
This presentation provides a briefing on how to upload submissions and documents in Google Classroom. It was prepared as part of an orientation for new Sainik School in-service teacher trainees. As a training officer, my goal is to ensure that you are comfortable and proficient with this essential tool for managing assignments and fostering student engagement.
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
Palestine last event orientationfvgnh .pptxRaedMohamed3
An EFL lesson about the current events in Palestine. It is intended to be for intermediate students who wish to increase their listening skills through a short lesson in power point.
Model Attribute Check Company Auto PropertyCeline George
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Biological screening of herbal drugs: Introduction and Need for
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Embracing GenAI - A Strategic ImperativePeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
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It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
2. What is Your Current Level of Loan Indebtedness?
How do I Repay my Direct Loan?
What are Income-Driven Repayment Plans?
What if I Cannot Repay my Loan?
What is Loan Consolidation?
How Does my Cost of Attendance Impact by Borrowing?
Contact Information
4. Goal
• Students will be able to acquire their
current level of federal loan indebtedness.
You will be able to:
Acquire your current federal loan indebtedness
Identify your servicer (or servicers) of each of your loans
Annually monitor your borrowing by logging into
NSLDS.ed.gov
Use your total current loan debt to estimate payments
required when you go into loan repayment
5. Do you know how much you owe
in federal loans?
• Visit www.nslds.ed.gov to log into your federal records
• Click Financial Aid Review
6. Logging into NSLDS
• The next screen requests that you accept or decline the
privacy notice. Choose accept to proceed to the login
screen.
7. Logging into NSLDS (cont.)
• You can now log in with your FSA ID
• Choose the Log In tab if you have your FSA ID
• If you do not have an FSA ID, create one
8. Logging into NSLDS (cont.)
• Click on the blue # to drill down and see the detail of
each loan OR
• Click MyStudentData download for a text file output
14. Goal
• Students will be aware of the federal loan
repayment options. You will be able to:
Locate federal repayment options
Identify the different repayment options
Discriminate between all of the repayment
options
Compare the variables of each of the plans
Evaluate the programs
15. You know what you owe, what
do you do now?
• Go to the Department of Education at https://studentaid.ed.gov
• Choose “How to Repay Your Loans”
18. Studentaid.ed.gov (cont.)
• Click the link on the
site to view all plans
• Click on the income-
driven link to view
those plans
• Choose Estimate
Your Payments to
use the calculator
19. Let’s Estimate Your Payment!
• The estimator will redirect you to studentloans.gov
• You can log in with your FSA ID to use real data or
proceed and plug in your own numbers
20. Repayment Estimator
• To proceed without logging in…
• Click the + sign to add loans or use average balances
28. Important Notes!
• The estimator is just that, an ESTIMATE of what
your payments might be.
• You should contact your servicer to discuss your
actual account
• Repayment plans are determined by federal
regulation, therefore they can change. What is
available today may not be available when you
graduate.
29. The Repayment Plans (cont.)
• Repayment plans are divided into the following categories:
• Standard Repayment
• The default plan
• Fixed payment amount
• Up to 10 years to repay the loan
• All borrowers are eligible
• You will pay the least amount of interest over the life of the loan with
this plan
• Graduated Repayment
• Payments start lower and then increase, usually every 2 years
• Up to 10 years to repay the loan
• All borrowers are eligible
• You will pay more interest than with the Standard Plan
30. The Repayment Plans (cont.)
• Repayment plans are divided into the following categories:
• Extended Repayment
• Payments may be fixed or graduated
• Up to 25 years to repay the loan
• For Direct Loan borrowers, must owe more than $30,000 to qualify
• Payments will be lower than with Standard or Graduated, but you will
pay more interest over the life of the loan
• Income-Driven Repayment Plans
• Currently, 4 different plans
• Up to 20 or 25 years to repay the loan
• All borrowers are NOT eligible
• Payments may be lower, but you will pay more interest than with the
Standard Plan
31. Income-Driven Plans
• The Department of Education uses a percentage of your
discretionary income to determine repayment amounts
• What IS discretionary income (per the Department of Ed.)?
• For Income-Based Repayment, Pay As You Earn, and loan rehabilitation,
discretionary income is the difference between your income and 150 percent of the
poverty guideline for your family size and state of residence.
• For Income-Contingent Repayment, discretionary income is the difference
between your income and 100 percent of the poverty guideline for your family size
and state of residence.
• The poverty guidelines are maintained by the U.S. Department of Health and
Human Services and are available at www.aspe.hhs.gov/poverty.
• Income Driven Repayment Plans Q&A
32. Discretionary Income Example
• For a family of 2, 150% of
the poverty guideline would
be $16,020 x 1.5 =
$24,030.
• If you make $45,000 a
year, your discretionary
income would be
• 45,000 – 24,030 = $20,970
• Your payment would be
roughly
• 20,970 x .10 (10%) =
$2,097
• $2,097 / 12 = $174.75
33. Income-Driven Plans
• Revised Pay As You Earn (REPAYE)
• Payments will be 10% of discretionary income. Based on income
and family size.
• Payments recalculated each year
• Payments may be higher than with the Standard Plan
• If married, spouse income and loans will be considered
• Remaining balance after 20 (UNDG) or 25 (GRAD) years will be
forgiven (this may be TAXED!)
• Interest benefit – If your determined payment does not cover the
interest amount that you are being charged each month, the
government will pay ½ of the difference on Unsubsidized Loans.
34. Income-Driven Plans (cont.)
• Pay As You Earn (PAYE)
• Payments will be 10% of discretionary income. Based on income and
family size.
• Payments recalculated each year
• If married, spouse income and loans will be considered ONLY if
taxes filed jointly
• Remaining balance after 20 years will be forgiven (this may be
TAXED!)
• MUST be a new borrower after Oct 1, 2007 AND must have received
a Direct Loan disbursement on or after Oct 1, 2011.
• Must have high debt to income ratio
• Monthly payment will NEVER be more than the Standard Plan
35. Income-Driven Plans (cont.)
• Income-Based Repayment (IBR)
• Payments will be 10% for new borrowers (no outstanding Direct
Loan balance prior to July 1, 2014)
• Payments will be 15% for those who are not new borrowers
• Based on income and family size.
• Payments recalculated each year
• If married, spouse income and loans will be considered
• Borrower must have high debt to income ratio
• Monthly payment will NEVER be more than the standard plan
• Remaining balance after 20 or 25 years will be forgiven (this may be
TAXED!)
36. Income-Driven Plans (cont.)
• Income-Contingent Repayment (ICR)
• Payments will be 20% of discretionary income OR the amount you
would pay on a repayment plan with a fixed payment over 12
years, adjusted to your income (whichever is less)
• Based on income and family size.
• Payments recalculated each year
• If married, spouse income and loans will be considered ONLY if
taxes filed jointly
• Any borrower with qualifying loan types is eligible
• Monthly payment may be more than the standard plan
• Remaining balance after 25 years will be forgiven (this may be
TAXED!)
37. The Repayment Plans
• Click here for a link
to all of the
repayment plans
• Scroll down to see
the “Overview of
Direct Loan and
FFEL Repayment
Plans”
38. The Repayment Plans
• Sample chart from
Department of
Education Income-
Driven Repayment
Plans for Federal
Student Loans
Handout
Income-
Driven
Plans
39. Remember…
• Make sure your contact information is up to date with
your servicers and the Department of Education
• Annually review the data for accuracy
• Upon graduation, contact your servicer to sign up for
the best plan for you
• If at ANY time you are having trouble making a
payment, contact your servicer immediately! Non-
payments, even for very valid reasons, will impact
your credit score and your current options for
repayment.
40. A Very Important Note…
• There are 3rd party organizations that will offer to “help” you if you
are having trouble paying your loan.
• They present themselves as debt relief
• They present themselves as approved DOE organizations
• They will charge you a fee to “help” you
• BE WARY!! You should ALWAYS contact your servicer if you
are having trouble
As noted by John Wasik in his Forbes article titled The Single-Worst College Loan
Repayment Move from February 27, 2016, “The bottom line is don’t pay middlemen to
find aid or negotiate loan repayments. You’ll be throwing your money away.”
41. Please click the page below to complete an
evaluation for this session. Thank you!
44. Goal #1
• Students will be aware of the options available to
them if they cannot make their required loan
payments. You will be able to:
Locate federal options for postponing payments
Identify the different non-repayment options
Discriminate between the non-repayment options
Compare the variables of each option
Evaluate the programs
45. Goal #2
• Students will be able to evaluate the non-repayment
options for their own personal situation. You will be able
to:
Identify the non-repayment options you qualify for
Determine what non-repayment option will work for
your personal situation
Students will choose to contact your servicer (or
servicers) immediately if you cannot make your loan
payments
Students will identify the negative impacts of
choosing not to repay your loan
46. Why should you care if you miss
a loan payment?
• Your loan becomes delinquent the first day after
you miss a payment.
• If you are receiving any type of benefits, such as a
reduced interest rate for having funds withdrawn from
your bank account, the servicer can return your interest
rate to the full amount, retroactively.
• Your loan goes into DEFAULT after 270 days of a
missed payment.
47. Why should you care if you miss
a loan payment? (cont.)
• Both Delinquency and Default statuses may impact
your ability to:
• Rent an apartment or buy a house
• Get insurance
• Obtain a cell phone plan
• Obtain a job
**Anything you want to accomplish that requires a credit check could
be impacted negatively by not making your loan payments on time.
48. Full Consequences of Default
• For the full list, view the Department of Education’s site
• You lose eligibility for deferment, forbearance, and repayment
plans
• You lose eligibility for federal student aid
• Your loan account is assigned to a collection agency
• Your credit rating will be damaged
• Federal and state tax refunds may be withheld
• You may experience wage garnishment
• The loan holder can take legal action against you
• It will take years to reestablish your credit and recover from
default
49. What if you can’t make your
payments?
• First, immediately contact the servicer(s) of any
and all of your loans.
• Contact them BEFORE your payment is late!!!!!!!
• If you don’t know who your servicer is, log in to the
National Student Loan Data System to view your loans.
Click here to view that process if you are not familiar
with how to log into www.nslds.ed.gov.
• Second, review the servicer’s website(s) to
determine if there are specific forms that need to
be completed.
50. What if you can’t make your
payments?
• You have options!!!!!
• Federal regulations allow for non-payment periods
• Deferment options – Periods of no payment required,
with no interest charges for subsidized loans
• Forbearance options – Periods of no payment required,
but interest will accrue on all types
• In certain circumstances, usually due to disability or death,
you may request that your loan be discharged.
• Discharge means to release the borrower from the
obligation of repaying the loan
51. Just a note…
• Everything discussed in this presentation can be reviewed
and investigated on the federal website.
• Go to the Department of Education at
https://studentaid.ed.gov
• Hover over the down arrow to the right of How to Repay
Your Loans. Choose Deferment and Forbearance
53. Deferment
• Deferment is officially defined as a period during
which repayment of the principal and interest of
your loan is temporarily delayed.
• If you have a Direct Subsidized Stafford or Perkins Loan,
the government may pay the interest during the
deferment period
• For all Unsubsidized Loans, interest will accrue during
the deferment period
• Even though payments are not required, paying the interest on a
monthly or quarterly basis will prevent capitalization at a later
date
54. Deferment Categories
• This chart is taken
from the federal
website.
• Note that you must
meet specific criteria
• Contact your servicer
to see if you qualify,
especially for the
Economic Hardship
55. Deferment (cont.)
• Deferments are not automatic. You must contact your
servicer.
• For the in-school deferment, your school’s Registrar’s Office
will need to certify your enrollment. Contact your servicer to
determine if they have a specific form or process.
• All deferment requests go through your servicer. If you
have more than one servicer, you will have to complete the
process separately for each one.
• Verify that your deferment has been granted and your
status updated online BEFORE you stop making payments!
56. Forbearance
• Forbearance is when you don’t qualify for a deferment, but
you cannot repay your loan. Your servicer normally has the
OPTION of granting you a forbearance so that you may
either stop making payments or make reduced monthly
payments for up to 12 months.
• For all loans, interest will accrue during the forbearance
period
• Even though payments are not required, paying the
interest on a monthly or quarterly basis will prevent
capitalization at a later date
57. Forbearance (cont.)
• Two Types of Forbearance
• Discretionary – The servicer may choose to grant or not
• Financial Hardship
• Illness
• Mandatory – If you meet the eligibility criteria and complete the proper
paperwork, the servicer must grant the forbearance request (partial list below)
• Medical internship or residency program that meets specific criteria
• Total amount of your monthly payment for all student loans is 20% or
more of your total monthly gross income (additional conditions apply)
• You qualify for partial repayment of your loans under the U.S. Department
of Defense Student Loan Repayment Program
• You are a member of the National Guard and have been activated by a
governor, but are not eligible for a military deferment
58. Forbearance (cont.)
• Forbearances are not automatic. You must contact your
servicer.
• Different documentation is required based on the category
you are requesting.
• All forbearance requests go through your servicer. If you
have more than one servicer, you will have to complete the
process separately for each one.
• Verify that your forbearance has been granted and your
status updated online BEFORE you stop making payments!
59. How to avoid default
• Contact your servicer immediately if you believe you won’t be
able to make a payment on time.
• Know the legal requirements of your loan (see your promissory
note)
• Keep good records!
• Know what you owe
• Know who your servicer is (sometimes you have more than
one!)
• Know when your payments are due and keep a record of
payments
• Track your loans online (use nslds.ed.gov)
• Only borrow what you need
60. What if I end up in default?
• Contact the agency that is contacting you. It will
most likely be a collection agency, so contacting
your servicer at this point will be useless.
• Explain your situation
• Ask them what options are available to you to get out of
default
• Ask them to work with you
• Always stay in touch with your servicer or collection
agency
61. A Very Important Note…
• There are 3rd party organizations that will offer to “help” you if you
are having trouble paying your loan.
• They present themselves as debt relief
• They present themselves as approved DOE organizations
• They will charge you a fee to “help” you
• BE WARY!! You should ALWAYS contact your servicer if you
are having trouble
As noted by John Wasik in his Forbes article titled The Single-Worst College Loan
Repayment Move from February 27, 2016, “The bottom line is don’t pay middlemen to
find aid or negotiate loan repayments. You’ll be throwing your money away.”
62. Contact Information
UNTHSC Financial Aid Office
817-735-2505
finaid@unthsc.edu
Department of Education
1-800-4FED-AID /
(1-800-433-3243)
To email: https://studentaidhelp.ed.gov/app/ask
Online chat also available at the link above
Contact Your Servicer Directly for help with your account
63. Please click the page below to complete an
evaluation for this session. Thank you!
66. Goal
• Students will be aware of the federal loan
consolidation options. You will be able to:
Locate federal consolidation options
Identify the different repayment options for
consolidation
Identify the benefits of loan consolidation
Evaluate federal loan consolidation
69. Should I Consolidate?
• Very personal decision – not right for everyone
• Consolidation simplifies loan repayment by centralizing your
payment each month
• May have lower monthly payments
• Will provide fixed interest on all loans
• May pay more interest over the life of the loan
• May take 30 years to pay off loan
• May LOSE borrower benefits on current loans, such as interest
rate discounts, principal rebates, or cancellation benefits
• You cannot undo consolidated loans once complete
• May be better to keep current loans and apply for income driven
repayment plan, deferment, or forbearance
71. Loan Consolidation (cont.)
• Must be out of school to consolidate.
• The interest rate will be fixed for the life of the loan. The
fixed rate is based on the weighted average of the interest
rates on the loans being consolidated, rounded up to the
nearest 1/8th of 1%. There is no cap on the interest rate.
• Federal Consolidation Loans qualify for almost all of the
repayment plans, and at least two of the income driven
repayment plans. Review the chart at the Department of
Education’s website.
• https://studentaid.ed.gov/sa/repay-loans/understand/plans
72. Contact Information
UNTHSC Financial Aid Office
817-735-2505
finaid@unthsc.edu
Department of Education
1-800-4FED-AID /
(1-800-433-3243)
To email: https://studentaidhelp.ed.gov/app/ask
Online chat also available at the link above
Contact Your Servicer Directly for help with your account
Back to Main Menu
73. Please click the page below to complete an
evaluation for this session. Thank you!
77. Goal
• Students will learn how their financial aid cost of
attendance (COA) is determined each year. You
will be able to:
Identify the COA Components
Discriminate between the fixed and variable COA
Components
Analyze your personal finances and borrow only what
is necessary
Students will choose to reduce spending where
possible
78. Cost of Attendance Components
• Paid to the school
• Actual cost will be fixedTuition and Fees
• Paid to the school or outside source
• Actual cost will vary depending on where you purchase items, what classes you
take, and how many classes you take
Books & Supplies
• Paid to an outside source
• Actual cost varies depending on living choicesRoom and Board
• Paid to outside sources
• Actual cost varies depending on personal choicesTransportation
• Paid to outside sources
• Actual cost varies depending on personal choicePersonal & Misc.
79. 16-17 Budget for TCOM Year 1
TCOM 1 Resident TCOM 1 Non-Resident
Tuition (RESIDENT) $13,079.00 Tuition (NON-RESIDENT) $28,767.00
Fees $5,990.00 Fees $5,990.00
Federal Loan Fees $480.00 Federal Loan Fees $480.00
Books & Supplies $4,024.00 Books & Supplies $4,024.00
Room & Board $16,588.00 Room & Board $16,588.00
Transportation $3,908.00 Transportation $3,908.00
Health Insurance $2,196.00 Health Insurance $2,196.00
Personal $3,532.00 Personal $3,532.00
TOTAL RESIDENT $49,796.00 TOTAL Non-RESIDENT $65,484.00
80. 16-17 Budget for All Years
SAMPLE FIGURES YEAR 1 YEAR 2 YEAR 3 YEAR 4
TX Resident $49,840 $45,340 $51,384 $45,220
Non-Resident $65,528 $61,028 $67,072 $60,910
Maximum Unsubsidized
Stafford Loan
$44,944 $44,944 $47,167 $44,944
For tuition and fee breakdown by term:
http://web.unthsc.edu/TuitionandFees
Expected Disbursement
dates for Fall / Spring
07/08/16
12/23/16
07/08/16
12/23/16
06/27/16
12/23/16
06/27/16
12/23/16
81. Creating a Budget
• Click on the interactive budget worksheet to start
your budget!
• Average net income over 12 months
• List all monthly expenses
• Plan ahead for periodic expenses
• Add new categories as life changes
• Adjust to keep positive balance
82. Contact Information
UNTHSC Financial Aid Office
817-735-2505
finaid@unthsc.edu
Department of Education
1-800-4FED-AID /
(1-800-433-3243)
To email: https://studentaidhelp.ed.gov/app/ask
Online chat also available at the link above
Back to Main Menu
83. Please click the page below to complete an
evaluation for this session. Thank you!
86. Goal
• Students will learn how their financial aid cost of
attendance (COA) is determined each year. You
will be able to:
Identify the COA Components
Discriminate between the fixed and variable COA
Components
Analyze your personal finances and borrow only what
is necessary
Students will choose to reduce spending where
possible
87. Cost of Attendance Components
• Paid to the school
• Actual cost will be fixedTuition and Fees
• Paid to the school or outside source
• Actual cost will vary depending on where you purchase items, what classes you
take, and how many classes you take
Books & Supplies
• Paid to an outside source
• Actual cost varies depending on living choicesRoom and Board
• Paid to outside sources
• Actual cost varies depending on personal choicesTransportation
• Paid to outside sources
• Actual cost varies depending on personal choicePersonal & Misc.
88. 16-17 Budget for PA Year 1
PA 1 Resident PA 1 Non-Resident
Tuition (RESIDENT) $6,764.00 Tuition (NON-RESIDENT) $24,586.00
Fees $4,392.00 Fees $4,392.00
Federal Loan Fees $218.00 Federal Loan Fees $218.00
Books & Supplies $2,526.00 Books & Supplies $2,526.00
Room & Board $15,080.00 Room & Board $15,080.00
Transportation $3,572.00 Transportation $3,572.00
Health Insurance $2,196.00 Health Insurance $2,196.00
Personal $3,210.00 Personal $3,210.00
TOTAL RESIDENT $37,958.00 TOTAL Non-RESIDENT $55,780.00
89. 16-17 Budget for All Years
SAMPLE FIGURES YEAR 1 YEAR 2 YEAR 3
TX Resident $37,958 $41,575 $42,091
Non-Resident $55,780 $63,907 $63,989
Maximum Unsubsidized Stafford Loan $20,500 $20,500 $20,500
For tuition and fee breakdown by term:
http://web.unthsc.edu/TuitionandFees
Expected Disbursement dates for
Summer / Fall / Spring
None
07/08/16
12/23/16
05/06/16
07/08/16
12/23/16
05/06/16
07/08/16
12/23/16
90. Creating a Budget
• Click on the interactive budget worksheet to start
your budget!
• Average net income over 12 months
• List all monthly expenses
• Plan ahead for periodic expenses
• Add new categories as life changes
• Adjust to keep positive balance
91. Contact Information
UNTHSC Financial Aid Office
817-735-2505
finaid@unthsc.edu
Department of Education
1-800-4FED-AID /
(1-800-433-3243)
To email: https://studentaidhelp.ed.gov/app/ask
Online chat also available at the link above
Back to Main Menu
92. Please click the page below to complete an
evaluation for this session. Thank you!
95. Goal
• Students will learn how their financial aid cost of
attendance (COA) is determined each year. You
will be able to:
Identify the COA Components
Discriminate between the fixed and variable COA
Components
Analyze your personal finances and borrow only what
is necessary
Students will choose to reduce spending where
possible
96. Cost of Attendance Components
• Paid to the school
• Actual cost will be fixedTuition and Fees
• Paid to the school or outside source
• Actual cost will vary depending on where you purchase items, what classes you
take, and how many classes you take
Books & Supplies
• Paid to an outside source
• Actual cost varies depending on living choicesRoom and Board
• Paid to outside sources
• Actual cost varies depending on personal choicesTransportation
• Paid to outside sources
• Actual cost varies depending on personal choicePersonal & Misc.
97. 16-17 Budget for DPT Year 1
DPT 1 Resident DPT 1 Non-Resident
Tuition (RESIDENT) $8,288.00 Tuition (NON-RESIDENT) $23,384.00
Fees $4,660.00 Fees $4,660.00
Federal Loan Fees $218.00 Federal Loan Fees $218.00
Books & Supplies $2,700.00 Books & Supplies $2,700.00
Room & Board $15,080.00 Room & Board $15,080.00
Transportation $3,572.00 Transportation $3,572.00
Health Insurance $2,196.00 Health Insurance $2,196.00
Personal $3,210.00 Personal $3,210.00
TOTAL RESIDENT $39,924.00 TOTAL Non-RESIDENT $55,020.00
98. 16-17 Budget for All Years
SAMPLE FIGURES YEAR 1 YEAR 2 YEAR 3
TX Resident $39,924 $41,323 $38,439
Non-Resident $55,020 $56,293 $48,459
Maximum Unsubsidized Stafford Loan $20,500 $20,500 $20,500
For tuition and fee breakdown by term:
http://web.unthsc.edu/TuitionandFees
Expected Disbursement dates for
Summer / Fall / Spring
None
07/08/16
12/23/16
05/06/16
07/08/16
12/23/16
05/06/16
07/08/16
12/23/16
99. Creating a Budget
• Click on the interactive budget worksheet to start
your budget!
• Average net income over 12 months
• List all monthly expenses
• Plan ahead for periodic expenses
• Add new categories as life changes
• Adjust to keep positive balance
100. Contact Information
UNTHSC Financial Aid Office
817-735-2505
finaid@unthsc.edu
Department of Education
1-800-4FED-AID /
(1-800-433-3243)
To email: https://studentaidhelp.ed.gov/app/ask
Online chat also available at the link above
Back to Main Menu
101. Please click the page below to complete an
evaluation for this session. Thank you!