Wednesday, May 27, 2015
Tuesday, May 26, 2015
- · The Application Process
- · Student Eligibility
- · Federal Methodology
- · Overview of All Federal Aid Programs
- · Cost of Attendance
- · Verification
- · Packaging
- · Professional Judgment
- · Cash Management Rules
- · Satisfactory Academic Progress
Monday, May 18, 2015
Friday, May 8, 2015
Thursday, May 7, 2015
The White House Initiative on Historically Black Colleges and Universities (HBCUs) works to promote HBCU excellence, innovation, and sustainability. The Initiative recognizes undergraduate, graduate, and professional students for their accomplishments in scholarship, leadership, and civic engagement Do not underestimate the impact you make at your HBCU. Nominate yourself as an HBCU ALL-STAR!
Tuesday, April 28, 2015
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Three ideas to improve your financial life
Simple things for students and everyone to do this month
|Request a copy of your consumer credit report and review it|
Amount of time to complete: 15-30 minutes
How: Go to www.annualcreditreport.com
— Click "Request yours now!"
— Click "Request your credit reports"
— Fill out the form
Note: As a safeguard to your personal information, you'll be asked questions only you would know the answers to.Why it matters: The information in your reports may affect your mortgage rates, credit tcard approvals, apartment requests or your job application. In addition, reviewing the information may help you detect identity theft.
|Keep track of the due dates of all bills. Always pay on time.|
Amount of time to complete: 15-20 minutes monthly
How: Set up a bill tracking system that works for you. It could be a calendar, an app, a spreadsheet or a simple piece of paper with the due dates and amounts indicated for each bill.Why it matters: Paying bills on time means you'll avoid late fees. An added bonus is that your track record for paying on time is one piece in maintaining a good credit score.
|Celebrate completing ideas 1 and 2 by doing something free. It's spring!|
Take a walk, sit in the park, or listen to music, and imagine the day when you have control of your financial life. It's possible by taking small, manageable steps one at a time.
Amount of time to complete: 5-30 minutes
How: Start by imagining the freedom in deciding that happiness doesn't need to cost money.Why it matters: Small, impactful steps-like finding free things to do-can lead to a more empowered, debt-free life.
|Oprah may have her favorite things, but the Outreach and Financial Literacy team has found some fab stuff to share with you! Here are some of our most recent picks:|
When do I start repaying my federal student loans?
You don't have to begin repaying most federal student loans until after you leave college or drop below half-time enrollment. Many federal student loans have a grace period, which gives you time to get financially settled and to select your repayment plan.
You will make your federal student loan payments to your loan servicer. They will provide you with a loan repayment schedule showing when your first payment is due, the number and frequency of payments, and the amount of each payment. Your servicer will work with you to choose a repayment plan and answer questions you have about your federal student loans. It's important to stay in contact with your loan servicer and keep them informed of any changes to your mailing address, email or phone number so they know how to contact you.
How much will I have to pay?
You can use the repayment estimator to gauge your monthly payments under different repayment plans to determine the option that fits your financial circumstances. Just remember, if you would like to switch repayment plans, you must contact your loan servicer.
What if I'm having trouble making my student loan payments?
Contact your loan servicer as soon as possible. You may be able to change your repayment plan to one with a longer repayment period or to one that is partially based on your income. If switching repayment plans isn't an option for you, ask your loan servicer about your options for loan consolidation, a deferment or forbearance.
Webinars and money tips in honor of National Financial Literacy Month
What a perfect opportunity to learn money management skills! This month the Outreach and Financial Literacy team presents the free, five-part webinar series: "Five Easy Pieces: Earn, Spend, Save, Protect and Borrow." Each installment is 30 minutes and is designed to provide financial aid counselors with information that they can share with their students. Clickhere to find out more about the series and reserve your (virtual) front row seat.
We'll also be sharing important money management tips on social media. Like our Financial Awareness Basics Facebook page or follow us on Twitter.
Start a discussion using the hashtag #FLM2015.
Looking ahead: Budget is not a four-letter word
It's pretty difficult to manage a budget when your expenses exceed your income. In the next issue of FAB Gab, we'll share a simple strategy to track spending and set up a realistic money management plan that even the most math-challenged person can handle.
Monday, April 20, 2015
Please see below from our Legislative Relations committee.
Week of April 20th
This week, the U.S. House and U.S. Senate are in session for legislative business.
o Both the House and Senate may consider a conference agreement on the Fiscal Year 2016 budget resolution if conferees can resolve the differences between each chamber’s budget blueprint. The House and Senate Budget Committees are expected to hold the first meeting of the conferees on Monday at 3:00 p.m.
o The House is expected to consider H.R. 1195, the Bureau of Consumer Financial Protection Advisory Boards Act, to create a Small Business Advisory Board and codify the creation of a Credit Union Advisory Council and Community Bank Advisory Council at the Consumer Financial Protection Bureau (CFPB). The bill also restricts the amount of funds that the Bureau can request from the Federal Reserve over the next 10 years.
· On Monday at 12:30 p.m., the American Enterprise Institute (AEI) hosts a discussion titled, “High Costs, Uncertain Benefits: What do Americans Without a College Degree Think about Postsecondary Education?” Participants include: Andrew Kelly, Director, AEI’s Center on Higher Education Reform; Kevin James, Research Fellow, AEI’s Center on Higher Education Reform; Mark Schneider, Vice President, American Institutes for Research; Nicole Smith, Research Professor and Senior Economist, Georgetown University Center on Education and the Workforce; and Rachel Zinn, Director, Workforce Data Quality Campaign.
· On Tuesday at 2:00 p.m., NCHER holds its Monthly Membership Call, which will provide a summary of the March 24, 2015 call of the Board of Directors; provide a summary and updates on major items being worked on by our committees, caucuses, and working groups; and provide a Washington Update, including recent legislative and regulatory actions of the Congress, Department of Education, Department of Treasury, and CFPB. The conference call-in number has been circulated to each organization’s primary point of contact.
· On Wednesday through Friday, all-day, the National Association of Bond Lawyers hosts its Fundamentals of Municipal Bond Law Seminar in Orlando, Florida. The seminar provides attendees with a strong understanding of the key components of a municipal bond practice, including an overview of federal securities laws with which every municipal bond practitioner should be familiar and an in-depth explanation of the federal tax laws applicable to municipal bonds.
· On Wednesday at 10:45 a.m., the House Appropriations Committee meets to consider and approve the allocations for each of the 12 subcommittees responsible for assembling legislation setting funding levels for federal discretionary spending, including the Labor/Health and Human Services/Education Appropriations Subcommittee.
· On Wednesday at 2:00 p.m., the House Oversight and Government Reform Committee holds a hearing titled, “Enhancing Cybersecurity of Third-Party Contractors and Vendors.” Witnesses will be announced at a later date.
· On Wednesday at 3:00 p.m., the CFPB hosts a meeting of its Community Bank Advisory Council, which advises the Bureau in the exercise of its functions under federal consumer financial laws and provides information on emerging practices in the consumer financial products or services industry. The meeting’s agenda includes a welcome by CFPB Director Richard Cordray and a discussion of credit scores and credit reporting and its implications for small financial institutions.
· On Thursday, all-day, insideARM.com and the iA Institute host the third annual Larger Market Participant Summit for senior executives in the accounts receivable management industry. During the summit, attendees will discuss current trends in consumer litigation, including recent Telephone Consumer Protection Act cases; receive updates on current events, including Department of Education contract litigation, CFPB action against collectors and technology vendors, and large companies exiting the 3rd party collection space; discuss credit reporting; receive an update on clarifications related to the new New York debt collection rules; and participate in a meet and greet with representatives from the CFPB.
· On Thursday at 9:15 a.m., the House Financial Services Subcommittee on Financial Institutions and Consumer Credit holds a hearing entitled, “Examining Regulatory Burdens – Regulator Perspective.” Witnesses will be announced at a later date.
· On Thursday at 2:25 p.m., Education Secretary Arne Duncan, Kentucky Governor Steve Beshear, Kentucky Education Commissioner Terry Holliday, and Louisville Mayor Greg Fischer hold a press conference at Jefferson Community and Technical College to highlight the success of core reform efforts underway in the state and across the country.
· On Friday at 12:00 p.m., the Council for Economic Education, Jump$tart Coalition, and Junior Achievement USA hosts a Financial Literacy Day on the Hill. Held in conjunction with the offices of Rep. Ruben Hinojosa (D-TX) and Rep. Steve Stivers (R-OH), the event is open to the public and provides networking opportunities with the national financial education community. NCHER staff and more than 50 non-profit, government, and corporation organizations will participate in the event.