STUDENT FINANCIAL LITERACY BURSAR/STUDENT ACCOUNTS BWG Presentation - 19/20

What Does Financial Literacy Mean For You? Financial literacy is the possession of the set of skills and knowledge that allows an individual to make informed and effective decisions with all of their financial resources. Understanding your Invoice Understanding how you are paying that invoice Understanding the impact of paying (or not paying) that invoice. Possessing the ability to explain your invoice, payment choices, and impact to your family.

Where We Are Located & What We Do We’re located on the 2nd floor of the Administration Building (next to Stony Bones) Student Accounts Office Post charges to your student account Process Residency appeals Bursar’s Office Process Payments Issue “refund” checks

Tuition & Fees + Room & Board In-State Undergraduate Tuition & Fees $5,087.40 Room & Board $7,139.00 TOTAL: $12,226.40 Out of State Undergraduate Tuition & Fees $13,922.40 Room & Board $ 7,139.00 TOTAL: $21,061.40

This Is Your Student Account You are creating a financial contract with the University Regardless of who pays, you are responsible for your invoice Bills are sent to your @stonybrook.edu e-mail in early July. Due August 15. NO PAPER BILLS! You can create delegated user accounts for family members Is there a way to get a clearer picture?

This Is Your Student Account Messages and reminders are sent to your SOLAR account These messages contain brief instructions or information about your holds “Refunds” are sent to the bank account or address you designate This is done through your SOLAR page under the Campus Financials section

Financial concerns is a common distraction for students and can be the reason a student has an break in their enrollment. We want to be able to focus on your degree. The first step is to talk about paying for college with your family. If you want me and my office to talk to your family too then you need to make them delegated users. I cannot legally discuss the details of your student account unless you go to your Solar account and click “share my information” and follow the steps. You can create up to 10 delegated users and they do not need to be a relative, they can be anyone you like. This gives them access to your student financial and ONLY uour student financials. This does not give anyone access to your grades, classes, health center information, only the money.

Paying For College Sit down and talk about money Complete the FAFSA With a family member, a mentor, or a friend Complete the FAFSA Check your To-Do List on SOLAR Create a plan for each semester Costs can increase each year Look for scholarship opportunities Will your schedule permit a part time job? On campus jobs go quickly!

Where You Should Look For Answers Money Smart Seawolves An entire program dedicated to your financial literacy Weekly workshops on credit, budgeting, saving & investing, dealing with student loans, etc. Chance to win the equivalent of NYS tuition ($3,535.00)

Your Bill First Invoice: 1st week of July Due August 15th Since you’re new students, you have a grace period extended till Sept. 15th TOPP: four equal installments due on the 15th August, September, October, November What Happens if you can’t pay? Finish out the semester Can’t enroll in the next term, can’t get a transcript Collections Activity Begins Don’t Wait, Talk To Us! We’re here to help

Steps To Continue Your Success Talk about paying for college with your family Have a SOLID Plan Ask Questions Early and Often Be Your Own Advocate Check your E-Mail and SOLAR messages

Next Steps To-Do You Belong Here Sign up for classes (that’s today!) Create delegated users Receive invoice & sit down with family Pay invoice or sign up for the Time Option Payment Plan (TOPP) by September 15th Arrive on campus or practice your commute Do well and repeat for the next 7+ semesters You Belong Here Always Be Your Own Advocate Follow up verbal conversations with e-mail confirmations

Names and Numbers Erik Andersen: Bursar & Director of Student Accounts 631-632-9316 Erik.Andersen.1@stonybrook.edu Studentbilling@stonybrook.edu For questions about your invoice bursar@stonybrook.edu For questions about payment, refunds

STUDENT FINANCIAL LITERACY BURSAR/STUDENT ACCOUNTS Questions? BWG Presentation - 19/20