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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