Student Presenation 2010

LONGHORNS GUIDE TO FINANCIAL AID

http://finaid.utexas.edu • (512) 475- 6282

OSFS Services

Financial Aid Counseling & Processing Complete your new FAFSA each year www.fafsa.ed.gov

Scholarships www.texasscholarships.org

Bevonomics – money management workshops www.bevonomics.org

Hire-a-Longhorn – job search www.hirealonghorn.org

www.fafsa.ed.gov

Complete FAFSA each year by the

priority deadline:

March 31st

Check Finaid Status Online via CASH http://finaid.utexas.edu/cash

Review & submit your Financial Aid award notice

Complete any requirements: Entrance Counseling Documentation needed FERPA privacy release Direct deposit

authorization

Report scholarships

Review the status of your funds release

EFAN = Award letter

Cost of Attendance (COA) Tuition Books Housing Transportation Miscellaneous

Financial aid assists you in paying these costs

Student Loans - Getting Started

Use your FAFSA PIN to gain access Requirements listed on “My Profile”

Complete Entrance Loan Counseling

Takes 20-30 minutes to complete

Loans will

NOT voucher until the counseling requirement

is satisfied

Subsidized/Unsubsidized Direct Loans – Master Promissory Notes

Parent PLUS Loan: two-step process

Step 1: PLUS Request Process Step 2: PLUS Loan MPN

Fall T&F bill How Will You Pay For It?

See your “My Tuition Bill” page UT Direct

Due August 11th by 5:00pm

Must select payment arrangement:

Click the “Pay with Financial Aid” button

Installment Plan

Check: Electronic Funds Transfer (EFT)

Credit Card: MasterCard & Discover Only

Tuition Loan

“My Tuition Bill “ via UT Direct

Aft

er

You must select a payment option in order to secure your classes

Red means classes are not secured Green means classes are secured

Bef

ore

Disbursement of Aid

When is aid released? At the start of each semester See “Funds release” via CASH page

What is paid? Any outstanding UT debt

(i.e. T&F’s, on-campus housing…)

Where does remaining aid go? See “Where’s my Check” via UT Direct or “Funds Release” via

CASH

Direct Deposited to update go to “My Bank Info” via UT Direct

Mailed as a paper check to update go to “My Addresses” via UT Direct

Where to Keep Your Money?

Choosing a Bank

Location Fees ATM Access On-line Banking Free Checking

Manage your Money

Pay bills on time: tuition, books, rent, utilities

Avoid “bad debt”, such as credit cards, short-term loans

Reduce your financial stress Budget Attend a Bevonomics session

Plan ahead Think about future expenses Save money for fun stuff Save 10%

Financial Aid refund / 4 months = Monthly Budget

Monthly Spending / 4 weeks = Weekly Budget

Bevonomics

Workshop Topics: Spending & Saving Understanding Credit Guide to Investing Repaying Student Loans Guide to Renting & Living in Austin My First Job: Choosing Benefit Packages Identity Theft My First Car

See www.bevonomics .org for Fall 2010 schedule

CAUTION!!!! Credit Cards

$4,100 – average college senior’s credit card debt

91% of undergraduates have at least one credit card

$21,000 – average student loan debt at graduation

$28,400 – average price of new car

Needs vs. Wants

900+ Student Orgs

Do Free Activities!

Get a Jobwww.hirealonghorn.org

Work-study & other part-time jobs

Work-study Job Fair: August 30th 10am -2pm @ TX Union Ballroom

Perks: On-campus Flexible Networking Resume building Good pay

Things to Remember

Apply for FAFSA each year by the priority deadline

FERPA privacy release authorization

Always check your CASH page

Read all mail / e-mail

Submit all required documentation Complete Direct Loan promissory notes & entrance

counseling online at: https://studentloans.gov

http://finaid.utexas.edu • (512) 475- 6282

Find us on Facebook: University of Texas at Austin Financial Aid Office

Longhorns Guide to Financial Aid

Mon - Fri 8:00am – 5:00pm

(512) 475 - 6282

Student Services Building (SSB)

3rd Floor