Tag Archives: Money

Loan Websites

Federal Student Loan Websites

Complete FAFSA® – Complete your Free Application for Federal Student Aid (FAFSA®) to see what aid may be available to help you pay for college

 

Federal Student Aid– Get ready for college or career school, learn about federal student aid and how to apply using the FAFSA®, and get information on repaying student loans

 

Federal Student Aid: Loan Forgiveness, Cancellation and Discharge– Find out whether you qualify due to your job, disability, the closure of your school, or other circumstances

 

Federal Student Aid: Military Student Loan Benefits– Information Members of the U.S. Armed Forces need to know about your federal student loan benefits

 

National Student Loan Data System (NSLDS)– Lets you retrieve your loan information for your federally-owned or federally-guaranteed loans including any balances and which company is servicing them

 

StudentLoans.gov– Apply online for Income Driven Repayment plans, consolidate federal student loans, complete your Master Promissory Note, complete entrance and exit counseling, and more

 

U.S. Department of Education– Provides information about the Department’s offices, programs, information and assistance services, funding opportunities, education statistics, publications and more
https://www.mohela.com/DL/resourceCenter/AdditionalResources.aspx

Jack Kent Cooke Undergraduate Transfer Scholarship

Do you know a high-performing Missouri State-West Plains student looking to transfer to a four-year institution? Does he or she have financial need? If so, please encourage him or her to apply for the Jack Kent Cooke Foundation Undergraduate Transfer Scholarship, which provides up to $40,000 annually to community college students and recent alumni who will pursue a bachelor’s degree at a four-year institution. The application is now open and will close December 2. For more information, visit: http://www.jkcf.org/scholarship-programs/undergraduate-transfer/

Debt Management

Debt Management and Minimization

Many students seek a postsecondary education hoping to improve their career opportunities and financial future. Managing your money while in school is an important part of obtaining the lifestyle you want. However, poor money management, both while in school and after, can mean a large salary going towards debt and not much else.

Follow these steps to make getting your degree, minimizing your debt and repaying your student loans as easy as possible.

For those just beginning a postsecondary program:

  1. Identify your expected after-graduation salary by visiting sites like www.salary.com, as well as job finding services, like www.monster.com or jobs.mo.gov, to determine the demand and compensation for your profession.
  2. Determine how much the degree you want will cost and if you can afford it.
    • Research and compare the total costs for each postsecondary institution you are interested in, including course fees, add-on fees (student health fees, recreation fees, etc.), room and board, etc. The national College Navigator website provides comprehensive cost and program information as well as links to each schools’ net price calculator. The U.S. Department of Education also publishes College Scorecards on postsecondary institutions to help you make an informed decision about which program, degree, or college in which to invest your time and money.
    • Use online calculators, such as the calculator on Mapping Your Future to determine how much student loan debt you can afford (based on your expected future salary) or what salary you will need to pay your student loan debt. A general rule of thumb is to keep student loan payments to 8% of your income.
  1. Develop and follow a budget while getting your degree so you can avoid credit card and other types of debt.
  2. Try to find sources of free funding, such as Pell Grants and scholarships, before borrowing student loans. It is also a good idea to pay for a portion of your college expenses as you go through part-time employment.

Those with a degree or about to graduate should be aware of student loan repayment options. Once you have borrowed a student loan, use the National Student Loan Data System (NSLDS) to access your student loan account and keep track of your total debt. You may also get the information by calling (800) 4-FED-AID.

8 percent rule

Most financial advisors recommend student loan payments not exceed 8% of your monthly gross income. Multiply your estimated gross income (before taxes and other withholdings) by .08. Your student loan payments should not exceed this amount.

http://www.dhe.mo.gov/ppc/studentloans/debtmanagement.php

 

Loan Payments

How to Make a Payment

Making payments on your student loan with Nelnet is easy! With options to pay anytime, anywhere, you can manage your account your way. We offers a variety of payment options, including automatic debits (ACH), to let you choose a method that’s convenient for you. And, if you wish, we can send you text alerts to confirm or remind you to make your payments! See details below.

+Your Accounts, Loan Groups, and Due Dates

http://www.nelnet.com/How-To-Make-A-Payment/

FAFSA Toolkit

FAFSA Toolkit:

Join the club. File the FAFSA

This toolkit is designed to assist you in providing information on completing the FAFSA (Free Application for Federal Student Aid).

With the click of a mouse or a quick “cut and paste,” you can have your own FAFSA campaign, provided by PHEAA.

From print ads to web banners, our tools help schools and community partners increase FAFSA awareness.

How to Download: To download, right-click (control-click on Mac) and select “Save Target As…” from the pop-up menu.

https://www.pheaa.org/partner-access/fafsa-toolkit.shtml

Work- Study

Work-Study Employment

State Work-Study Pays. Earn money & experience.

Pennsylvania has its own State Work-Study Program outside of Federal Work-Study. The program is open to all PA students, as long as they meet the eligibility requirements. This is an additional opportunity to earn money for school and experience for the real world.

The State Work-Study Program is a great option for Pennsylvania students:

  • Take advantage of employment opportunities located in Pennsylvania.
  • Choose your own employer.
  • Pick a job in your future career field.
  • Work up to 40 hours per week.
  • Prepare

    Determine if you are an eligible student and find an eligible job.

  • Apply

    Know your deadlines and make sure you use the correct codes when you apply.

  • After You Apply

    Use our checklist to make sure you’re prepared for your 1st day of work.

  • Work-Study Employment FAQ

    Find answers to some common questions about the State Work-Study Program in Pennsylvania.

Did You Know?

The State Work-Study Program is a PHEAA-administered program made possible through funding from the General Assembly and with the cooperation of Pennsylvania postsecondary institutions and employers.

https://www.pheaa.org/funding-opportunities/work-study-employment/index.shtml

Calculator

Use our online calculators to see how your financial choices can affect your bottom line.

  • Budget Calculator This link opens in a new window

    Doing a budget for the first time can be confusing. The budget calculator on YouCanDealWithIt.com helps simplify the process.

  • Savings Calculator This link opens in a new window

    Find out how much, and how often, you need to save to meet a specific financial goal.

  • Annuity Calculator This link opens in a new window

    Get an estimate of how your savings will grow over time.

  • Student Loan Repayment Calculator This link opens in a new window

    See how different interest rates and loan terms can affect your monthly payment.

https://www.pheaa.org/tools-resources/calculators/index.shtml

Funding for School

State Grant Program

If you’re an eligible Pennsylvania resident, apply for a Pennsylvania State Grant to get help with the cost of higher education.

 

Other Educational Aid

  • Explore the other aid programs available that provide funding for higher education.
  • Work-Study Employment

    Gain career-related, on-the-job work experience while earning money to help pay for your higher education.

  • PA-TIP

    Explore aid that helps strengthen the state’s workforce and makes higher education more affordable with the Pennsylvania Targeted Industry Program (PA-TIP).

  • Aid for Military & PA National Guard

    Service to our country may qualify you or your dependents for financial aid when you pursue higher education.

  • Loan Forgiveness

    Find out if you are eligible for loan forgiveness, which repays part or all of your educational loan debt if you fulfill certain work-related requirements in specific fields.

http://www.pheaa.org/funding-opportunities/index.shtml

Financial Aid

5 Steps to Financial Aid

Step 1. Look for “free” money first.

Try to get “free” financial aid first. Free financial aid is the type of aid that you do not need to repay.

Unfortunately, free financial aid usually doesn’t cover 100% of your costs. And you may need to find other ways to pay for college, including taking out low-cost loans and using any money you may have saved. Alternative sources are also an option but use them only as a last resort. Take time to understand all the ways you can pay for college.

If you include more than one college on your FAFSA (Free Application for Federal Student Aid), you will receive one financial aid award letter (award offer) from each of those schools. These offers will likely contain a combination of free aid and low-cost loans. Evaluate each school’s financial aid offer carefully.

Ways to Pay for College
Free aid
  • You do not need to repay free aid, as long as you meet all of the obligations.
  • Free aid includes scholarships and grants.
  • Sources of free aid include the federal government, your state, your school, your employer, your community, religious organizations, and others.

Note: Be aware that in some cases, a grant may convert to a loan if certain obligations are not met.

Work-study or other employment
  • You can help pay for your education by working part- or full-time while you attend school.
  • Some employers offer tuition reimbursement programs in which they give money toward your education.
Low-cost loans
  • These loans offer reduced interest rates, various repayment options, and no prepayment penalties.
  • The primary source is the federal government, which offers loans for undergraduates, graduates, and parents.
  • Your school may offer institutional loans and flexible tuition payment plans.
Savings
  • You can always use money you already have to pay for school.
  • Sources include savings accounts, 529 plans, pre-paid tuition plans, or other savings programs.
Alternative sources
  • Private education loans can fill any gaps in funding after you have exhausted other aid types.
  • You may be able to use home equity loans and lines of credit depending on your situation.
  • Avoid cashing out insurance policies or retirement funds or using high-interest advances on credit cards. These sources are almost NEVER a good idea.

 

http://www.pheaa.org/college-planning/five-steps/index.shtml