1. Financial Literacy Boot Camp
Anthony Morrone
Director of Financial Aid
Nevada State College

2. Financial Literacy Regimen
Financial Aid Overview
Budgeting
Debt Management
Understanding Credit
Identify Theft
Tax Preparation
Q&A

3. Exercise 1: Financial Aid
What is it? Financial Aid is assistance provided to eligible students by the government, schools and private donors to pay education-related expenses.
Financial Aid may be awarded as:
Grants
Scholarships
Work-Study
Loans

4. Applying for Aid Federal and State
FAFSA (Free Application for Federal Student Aid)
School will receive results and contact you
Nevada State College Foundation Scholarships
Application available online December - April
Third-Party Scholarships
List of opportunities on NSC website
Many deadlines in winter and early spring
Write an essay and apply to as many as possible

5. FAFSA (Free Application for Federal Student Aid)
FAFSA available Oct. 1, 2017
Valid for Fall 2018, Spring 2019, Summer 2019
Gather 2016 tax return and earnings statements
NSC priority deadline for grants is Jan. 15, 2018
FSA ID
Allows you to electronically sign FAFSA & MPN
One FSA ID per SSN, good for life
IRS Data Retrieval: An easier way to provide tax information. With just a few simple steps, students & parents who have completed their IRS tax return will be able to view & transfer their tax information into their FAFSA. May reduce additional documentation requests from FA Office.

6. Stats

7. Exercise 2: Budgeting
Creating a school-year budget allows you to compare your estimated financial resources against your planned educational expenses
Creating a monthly budget helps you track your actual income and spending habits, which you can compare with your planned school-year budget

8. Exercise 3: Debt Management
Borrow only what you need according to your budget
Be aware of the debt you are accumulating
NSLDS
Explore your repayment options and estimate your monthly payment

9. Exercise 4: Understanding Credit
Credit rating affects many areas of life
Ability to purchase goods and services
Employment
Housing
Use credit responsibly
Credit rating is affected by
Percent of total credit used
Opening and closing accounts
“Hard” inquiries on your credit report
Timing of payments
nfcc.org

10. Credit Reports Credit reports may include:
A list of companies that have given you credit or loans
The total amount for each loan or credit limit for each credit card
How often you paid your credit or loans on time, and the amount you paid
Companies that have asked to see your credit report within a certain time period
Your address(es) and/or employers
Other details of public record

11. Review Your Report Your rights to your credit reports
Federal law requires each of the three nationwide consumer credit reporting companies to give you a free credit report every 12 months if you ask for it.
Order 1 credit report every 4 months to monitor your report over the entire year
Report any discrepancies immediately

12. Understand and Know Your Score
Each of your credit scores will vary depending on the criteria used by the credit agency
Monitoring your credit score is a good way to track if there is any suspicious activity
Drops in score because of
Unauthorized credit checks
Account usage
New lines of credit opened

13. Exercise 5: Identity Theft
Don't access secure websites, such as online banking, from shared computers or in public.
Use the privacy settings on social networking sites to ensure you're only sharing information with those you trust.
Only provide your Social Security number when necessary, such as for employment, tax forms or bank records.
Be careful opening files, links, s, etc. from unknown sources or from a friend's account that may have been hacked.
Check the security of online stores before you purchase.
Shred all sensitive information before throwing in the trash.
When sharing personal information with certain professionals, such as tax preparers or mortgage lenders, be sure to choose companies you trust.

14. Monitor your Information
Check your accounts at least weekly for suspicious activity.
Immediately report small unauthorized charges.
Keep your receipts and compare against monthly statements or online accounts.
Secure wireless devices and connections
Keep PINs and passwords safe
Not written on or kept with cards
Not under keyboard or in notebook
Don’t use “password” or “123456”
Use a “passphrase” when permitted

16. Protect your Information
“SKIMMING”
Be aware of card-swiping devices
Hand-held
Mounted
ATM or vestibule
Gas pump
Any exposed card swiping device

17. Exercise 6: Tax Preparation
If you earn income and no one is claiming you as a dependent on their taxes, you should consider filing even if you are not required to do so.
You may be entitled to education benefits
American Opportunity Credit
Up to $2,500 for qualified education expenses
Lifetime Learning Credit
Up to $10,000 for qualified education expenses
Student Loan Interest Deduction
Up to $2,500 per year
Tuition and fees deduction
Up to $4,000 per year
Our office does not offer individual tax advice,
please consult a tax professional.

18. Exercise 8: Q&A
What have you learned today that you will use in your daily life as a financially savvy student?
Questions for me?

19. Would You Like More Information?
Contact us: