1. Piece of Mind Your money.....your future.....don’t blow it. Donna Gene Price, Director Student Financial Aid/Veterans Affairs January, 2013

2. Topics for Today Student Loan Debt Credit Card Debt Student Financial Aid

3. Student Loan Debt What’s the Big Deal? Average Student Loan Debt at Graduation = $24,000 Two out of five student loan borrowers fall behind on their student loan payment within the first five years Defaulting on student loans may prevent your ability to borrow money in the future for a car or home. Defaulting on student loans may result in garnishment of your wages. If you borrow it.....you owe it!

4. Student Loan Debt What’s the Big Deal? Student loan debt is bad for you....bad for everybody –Higher than credit card debt –A drag on the housing economy –Reduces your ability to qualify for a mortgage –Age 25-35 first time home buyers make up 27% of the market. This is the lowest percentage in a decade. –Age 25-35 – 6 million are living with their parents compared to 4.7 million in 2007 –Victimization – pop up loan, quick cash and check cashing companies love to see you coming

5. Student Loan Debt What’s the Big Deal? Struggling with student loans? 5 options http://money.msn.com/debt-management/student-debt- is-stifling-home-sales- bloomberg.aspx?videoId=0b9f0fe7-5695-4969-8853- 2ff0a500f63a&from=email&src=v5:pause:email:uuids &from=mpl_en-us_iv2_en-us_money_VxP- article_debt-management-student-debt-is-stifling- home-sales-bloomberg_Money_article http://money.msn.com/debt-management/student-debt- is-stifling-home-sales- bloomberg.aspx?videoId=0b9f0fe7-5695-4969-8853- 2ff0a500f63a&from=email&src=v5:pause:email:uuids &from=mpl_en-us_iv2_en-us_money_VxP- article_debt-management-student-debt-is-stifling- home-sales-bloomberg_Money_article

6. Student Loan Debt Would you like to buy a house? Not so fast! http://money.msn.com/college- savings/student-loan-calculator.aspx http://money.msn.com/college- savings/student-loan-calculator.aspx Check your loan balance regularly....now and not just when you graduate at www.studentloans.gov

7. Credit Card Debt

8. Let’s see how this credit card thing works...... http://www.bankrate.com/calculators/credit-cards/debt- calculator.aspx http://www.aie.org/managing-your-money/Credit- cards/Credit-Card-Debt-A-Students-Story.cfm

9. Credit Card Debt What if I’m in over my head? Don’t ignore the bills! Make at least the minimum payment Negotiate with the credit card companies Stop charging immediately..destroy those cards Adjust your wants vs. needs budget so you can make larger payments Make a budget and stick to it

10. Credit Card Debt Avoid impulse buys and peer pressure “Opt out” of new offers and mailing lists at www.optoutprescreen.comwww.optoutprescreen.com Seek free counseling services in your community

11. Student Financial Aid Office

12. You must be making academic progress to remain eligible to receive financial aid. –GPA –Pace (progression towards graduation) Know our guidelines at www.apsu.edu/financialaidwww.apsu.edu/financialaid Know the requirements for your degree See your academic advisor regularly Call, email or visit our office

13. Student Financial Aid Office Borrow only what you absolutely need –Need....not want Use your refund wisely –Consider taking less of a refund by borrowing less Don’t get billed! –If you enroll full time, then withdraw or have attendance grades, you may owe money back to the school. –Know our withdrawal policy at www.apsu.edu/financialaidwww.apsu.edu/financialaid

14. Student Financial Aid Office Visit our website often at www.apsu.edu/financialaidwww.apsu.edu/financialaid Important Dates Financial Aid TV Videos Withdrawal Policy Academic Progress Policy Step by Step Instructions Financial Literacy Resources

15. Resources www.money.msn.com www.aie.org www.dollarsensei.com www.apsu.edu/financialaid

16. Example – Dependent Undergrad Tuition and Fees$6,648 Housing 5,600 Meal Plan 2,780 Total Direct Costs $15,028 Example 1– Grant Eligible Student Loans$6,500 Pell Grant 5,000 Lottery 4,000 State Grant 3,000 Total Financial Aid$18,500 Refund = $3,472

17. Example – Independent Undergrad Example 2 Student Loans$10,500 Pell Grant 5,000 Lottery 4,000 State Grant 3,000 Total Financial Aid$22,500 Refund = $7,472

18. Questions?? Email at sfao@apsu.edusfao@apsu.edu Call at 931-221-7907 Visit at Ellington Building, Room 216