Financial Aid Getting on Board with Student Loans How to be successful with student loans at your school

Customize slide according to your school. Talk in detail about scholarships, grants, and FAFSA. Briefly discuss Loans because we go more into detail in the next 2 slides

SUBSIDIZED vs UNSUBSIDIZED SUBSIDIZED LOAN Based on your financial need. Only for undergraduate students. No interest while you are enrolled at least half-time in school. No interest for 6 months after you leave school. May not exceed limits. UNSUBSIDIZED LOAN Awarded to all students regardless of income. Available for both undergraduate and graduate students. Interest begins at time of disbursement. May not exceed limits. The difference between subsidized and unsubsidized loans Quick Tip: “Unsubsidized” starts with a “U” – think of it like “You” pay the interest on your unsubsidized loan.

Talk about interest rates, and emphasize how unsubsidized loans build in interest as soon as they’re disbursed. Explain the Parent Plus loan. It is the parent’s responsibility to pay back the loan, it uses their credit score, and the parents decide on how to disburse the money to the student.

FEDERAL LOAN LIMITS Limits to your loans. Make sure the students know that they don’t need to take the entire amount of loans offered to them and that they can take out less. Talk about how if they reach limits and need more, parent plus loan is an option. The more you take out, the more you will pay in interest.

DON’T FORGET! “What do you need to do asap?”

FAFSA “FAFSA!” May need to change date and years Date Here

Financial Aid Tips title slide. Change according to school.

How many have looked at their student account? myschool.edu Get a survey of who has seen their student account, and/or know how to access it. Put in school’s student account website

myUNT- How to check your account balance The following 3 slides are screenshots from the school’s website under student resources. It’s used to inform students of how and where they can see their account balances, how much money they owe, or how much of a refund they will receive. We take them through a tour of the website, and what they need to click on to get financial information. You will have to customize the next few slides to go with your school’s website.

SCRAPPY T. EAGLE The image on the left is a breakdown of what the student is being charged for for the semester. The smaller image to the right is the student’s financial aid they are expected to receive. In this case, this student will need more money to pay for the semester since his financial aid does not cover all expenses.

M. EAN GREEN Here we look at the same things for another student. This student has more money in financial aid than they do in expenses. We explain what happens in the next slide.

SCRAPPY T. EAGLE M. EAN GREEN Total Charges $ 14,441 $ 3,417 Financial Aid $ 9,990 $ 8,601 $ 4,451 $ 5,184 The first student we looked at will have to pay more money to the school because after financial aid, Scrappy is still left with a cost of $4,451. M. Ean Green has more financial aid than charges. Because of this, M.Ean Green will receive a refund from the school. BALANCE - amount still owed to UNT REFUND – money disbursed to the student

NEXT STEPS Paying off a balance Work Payment plans Family Come see us! Managing a refund Plan for books/parking/gas/living supplies Set aside emergency fund Monthly budget Don’t waste it on luxuries! After figuring out if you need to pay more, or if you will be getting a refund, here are some tips.

GETTING A REFUND Student BankMobile Student Accounting Student Account Financial Aid Explanation on the flow of the refund money and how it goes from the government to you. This slide may need to be changed according to how the refund method works at your school. By student account, we mean the money first goes to the student’s account to pay off school related charges. Student accounting is where the money goes next if there is any left over. It is a department in our school which helps manage refunds. We currently use a company called bankmobile to disburse refunds. The student needs to go to the bankmobile site and set up refund preferences there. Student selects refund disbursement method (BankMobile | Transfer to Personal Bank | Paper Check) through https://untdebitcard.vibeaccount.com/

MAKING YOUR MONEY LAST You don’t need everything Shop around Create a spending plan Pay yourself first Use your meal plan Use SCHOOL DOLLARS RENT – USED – NEW Use your fees! Seek out help if needed Tips about saving money. You don’t always need the latest edition of a text book You can find textbooks for cheap if you look around in person or online. Make a budget Remember to spend money on things YOU need first like food Use a meal plan if you paid for it to save money on eating out Use SCHOOL DOLLARS. Will need to be changed according to school currency. For our school, the school currency only works on campus and the leftover amount does not roll over to the next semester Rent – used – new is the priority of textbooks to get the cheapest price Use your fees. Take advantage of what you can use on campus for free. You have to pay for our school’s gym whether you go to it or not so you might as well go to it instead of going to another gym and buying a membership there.

WHAT DO I ACCEPT? How much do I need? How much am I offered? Things to consider before taking out a loan. You don’t want to take out too much because the more you take out the more you will have to pay back. How much do I want to repay?

x% of SCHOOL students will accept loans this fall. JUST THE FACTS Average student loan debt for SCHOOL undergraduates this past spring? $ 21,479 x% of SCHOOL students will accept loans this fall. Find the percentage of students at your school who has a loan balance. Find the average student loan debt amount of undergraduates at your school. Change the red number amount accordingly. The picture in front of it is set to disappear to reveal the answer. SOURCE: The source of your statistics. Ours was from the financial aid office.

Talk about the student loan repayment calculator on the studentloans Talk about the student loan repayment calculator on the studentloans.gov website and how useful it can be. Picture may want to be changed as this is one of our school’s buildings. www.studentloans.gov

Building and room number Department Name Services Location and services Building and room number