1. Copyright ® 2014 Finance Authority of Maine Money Management for High School Students December 2015

2. Apply for Financial Aid  Financial aid exists to help ALL students pay for college.  Merit vs. Need-Based Aid  Applying for Need-Based Aid All schools required the Free Application for Federal Student Aid (FAFSA). Some schools require a supplemental form - like the CSS Profile.

3. Apply ON TIME  Make sure you apply on-time every year! Do you know your financial aid deadlines?  Visit the Financial Aid webpage for each school: What is the FAFSA deadline? Supplemental form (i.e Profile) required? o If yes, what is the deadline?

4. Get Ready!  Get your FSA ID – Now! Your FSA ID is a username and password needed to access all Federal Student Aid websites, including the FAFSA. All students need an FSA ID. Dependent students - one parent will need their own FSA ID. Get one at fsaid.ed.gov  Research and start applying for scholarships!

5. Take Charge!  Don’t let your parents complete your FAFSA, scholarship applications, student loan forms, or online counseling.  Read and respond to ALL notices and emails from your school or billing companies.  Get a checking or savings account and monitor your transactions.  Follow up on questions yourself!

6. Know Your Salary  Do you know your expected salary?  Check with career or alumni offices or at: www.careerinfonet.org www.salary.com  FAME Student Loan Debt/Salary Calculator www.famemaine.com/education.

7. Track Your Spending  Track every penny that you spend for an entire month.  Categorize and add up your total expenses.  Small purchases add up over time and become big budget drains.

8. Save – Pay Yourself First!  Make a commitment to save every month, even just a little.  Savings lessens your dependency on credit cards and student loans.  Emergencies happen - open a saving and checking account.  Consider a savings account that is NOT tied to your debit card.

9. Know What You Owe  Review your credit report annually at: www.annualcreditreport.com.  Review your student loan history at least once annually at: studentaid.gov (login)  Understand the difference between Federal and Private Loans.  Review all credit card, bank and billing statements regularly.

10. Ask for Help!  Contact your financial aid office for financing options.  Contact your loan servicer if you are struggling with your student loan payment.  Meet with your bank or credit union to discuss billing and financial strategies

11. Finance Authority of Maine 5 Community Drive P.O. Box 949 Augusta, ME 04332 1-800-228-3734 education@FAMEmaine.com FAMEmaine.com Questions?