Financial LiteracyMarcy Gage

Greg Reed

Why Are We Here?

• Going to College is a Job.• Communication, Budget and Credibility

• Financial Benefits & Repercussions• Grants, Scholarships, Student Loans• SAP• Payment Plans• AR Refund Checks• SALT• NSLDS• Collections & Maine State Taxation

• Steps for Next Semester• FAFSA 2015-16• Deadlines

Myths About Financial Aid

Financial Aid For School

• Pell Grants

• Maine State Grant

• Scholarships

• Federal Student Loans

Responsible Borrowing

National Student Loan Data System (NSLDS)

• The National Student Loan Data System (NSLDS) is the U.S. Department of Education's central database for student aid. It receives data from schools, agencies that guaranty loans, the Direct Loan program, and other U.S. Department of Education programs.

• www.nslds.ed.gov

How to Manage Your Student Loans

150% Rule Chart

Program Length **Maximum Eligibility Period

5-Year Bachelor’s Degree 7.50 Years

4-Year Bachelor’s Degree 6.00 Years

2-Year Associate’s Degree 3.00 Years

2-Year Certificate 3.00 Years

1-Year Certificate 1.50 years

18-Week Certificate 27 Weeks

10-Week Certificate 15 Weeks

**Years listed are for Full-time students, generally prorated for less than full-time enrollment.

Satisfactory Academic Progress

https://www.youtube.com/watch?v=2uml3KtkxmU

“No Show” Status

• A student who does not attend class.

• Online class: A student who doesn’t complete the first required assignment by the due date during the 1st full week of the semester.

• You are expected to attend class beginning the first day of the semester.

• All financial aid awards based on courses that students do not attend will be cancelled, and the student will be responsible for any applicable charges.

A “No-show” (N) is:

Budgeting

Business Office

• Payment Plans

• Insurance Waivers

• AR Refund Checks

• Collections & Maine State Taxation

SALT

https://youtu.be/6KTeG0303-Y

Communication

• Professionalism• “Treat everyone with respect”

• Student Portal• Document tracking• E-mail (KVCC e-mail)• Notify Enrollment Services of any and all life changes

pertaining to school.

FAFSA 2015-16

Fill out your FAFSA for the next school year (2015-16).

www.fafsa.ed.gov

Deadlines

• Insurance Waiver

• Payment Plan (Fall, Spring & Summer)

• Maine State Grant – May 1st

• Add & Drop Date deadlines

Questions/Remarks?