Financial Literacy

Welcome to

Loras College

class of 2015!

PRESENTER: JULIE DUNN,

DIRECTOR OF FINANCIAL PLANNING

Financial Planning Office

FAFSA and Award Letter

You are encouraged to complete the 2011-2012 FAFSA so we can put together a financial aid award package for you.

You do not need to sign the award letter. Unless we receive notice from you that you are declining a loan, we will disburse all items listed on your award letter. First year students receive a paper copy of their award letter

Current students can access their award letter through IQ for students

If you do not intend to file the FAFSA, please inform the Financial Planning Office.

Federal Direct Loan Basics

www.studentloans.gov Sign Master Promissory Note Complete Entrance Counseling

Subsidized loan fixed interest rate: 3.4% Unsubsidized loan fixed interest rate: 6.8% Direct PLUS loan fixed interest rate: 7.9% Parent is the borrower

Federal loan maximum per academic year: 1st Year- $5,500 2nd Year- $6,500 3rd Year- $7,500 4th Year- $7,500

Scholarships and Private Loans

Notify the Financial Planning Office if you receive scholarships from other sources such as Lions Club, Jaycees, Kiwanis Club, local organizations, etc.

Additional scholarships may be available through www.loras.edu/admissions/scholarshipoptions.asp

Private loan options are available to those who need to borrow additional funds to pay for tuition and fees

Loan is in the student’s name

Most likely need a credit-worthy co-signer

See the Financial Planning Office if interested

Federal Work Study and Community Work Study Opportunities

Federal work study eligible students have hiring priority Minimum wage is $7.25 per hour. Students must complete all required

forms before a paycheck is issued.

Direct deposit is mandatory

Complete listing of campus positions is posted on the portal by July 31

All non-federal work study eligible students can seek employment after October 1.

Community Work Study- Business placements, social and government agencies, Boy/Girl Scouts, Big Brothers/Big Sisters, Mississippi River Museum, tutors at area schools, etc.

Complete list of community work study positions is posted at: http://inside.loras.edu/StudentDevelopment/CEL/Community%20Work

study/Forms/AllItems.aspx

QUESTIONS?

PRESENTER: CARRIE JONES,

DIRECTOR OF STUDENT ACCOUNTS

Student Account Billing & Payment Information

What can I do in the online student account system?

View all eBills for as long as you are a current student at Loras

View student account activity that occurs between billing cycles

Make a payment on your student account, deposit for a J-Term course, or deposit for a Study Abroad semester

Sign up for eRefund so any credit balances on your student account can be direct deposited into the bank account of your choice

View My Payment Plan options for the current term

Sign up for Auto-Payments

Sign up for SMS Text Alerts

Statement information

Statements are published online on or around the first date of each month, regardless of whether there is a balance due on the account

Each month the student will receive an email to their Loras email account indicating that a statement has been published. The student or parent should then log in to the account to see if a balance is due on the account.

Parents receive the same email each month IF they are signed up as an authorized user (assigned a Parent PIN).

Estimated Cost of Attendance (Based on Full-Time Undergraduate Study)

Academic Year- 2011-2012 Full-Time Tuition (12-18cr) $25,906

Student Fees $ 228

Technology Fee $ 950

Launch Into Loras $ 150

$27,234

Additional Fees Double Room $ 3,805

200 Block Meal Plan $ 3,719

Residence Hall Fees $ 24

Parking Permit $ 75

Book Estimation $ 1,100

$ 8,723

Total Estimated Cost* $35,957

*additional fees may be applied for specific programs

Billing and payment schedule

Billing for Fall semester: mid-July Billing for J-Term: mid-November Billing for Spring semester: late-November Billing for Summer: mid-May Monthly payment due dates are as follows:

Fall Payment Plan: August 15, September 15, October 15, and November 15

Spring Payment Plan (includes J-Term fees): December 15, January 15, February 15, and March 15

The final payments for the Fall and Spring payment plans should pay the account in full

Summer Courses: Payment is due in full by June 15

If you are paying the account in full for the semester, payments are due by August 15 for the Fall term and December 15 for the Spring term.

Methods of payment accepted

Cash- Payment can be made at the Business Office window in Keane Hall (M-F 9am-3pm)

Check or money order- Checks should be made payable to Loras College and payment can be made at the Business Office window or mailed to the college

Online- eCheck (ACH) withdrawal can be made directly from a checking or savings account.

Online- Credit card payments can be made online only by using a MasterCard, American Express, or Discover card for a 2.75% convenience fee. Please note- we do not accept VISA card payments.

Wire Transfer- Loras College accepts wire transfers for payment on account. Please see the wire instructions on the last page of the monthly statement.

Questions?

Business Office:

Refer to the Billing & Payment Procedures brochure

Contact the Business Office at:

Cashier- (563) 588-7335

Director of Student Accounts- (563) 588-7232

Financial Planning Office:

For questions on federal direct loans, visit www.studentloans.gov or call 1-800-243-7552

Contact the Financial Planning Office at:

(563) 588-7136

Now What?

Divide into three groups

Each group will visit the following three stations: Financial Planning- Complete Master Promissory Note and

Entrance Counseling online today!

Payroll- Fill out direct deposit, W-4, and I-9 forms (even if you are not sure if you will work on campus).

Student Accounts- Learn how to access the student account online and set up a parent pin.

When you are finished at one station, move on to the next until you have visited all three stations.

See you in the Fall!