I’ve been managing my own money for many years—I’m 31 now, and have been financially supporting myself since I was 18. My parents live in Mexico, and I am in the United States. I worked at Barnes and Noble through my senior year of high school and graduated with that income. But I began to accrue credit card debt during my senior year because I didn't have medical insurance. For instance, one short trip to the ER when I was sick with the flu cost me $2,500.

To view the full article, visit These 3 Steps Helped Me Erase $90,000 of Student Loan and Credit Card Debt.

Financial Aid Disbursement begins (when your financial aid awards pay to your student bill) occurs 10 days before the start of the semester.

View the disbursement dates for Undergraduate Students, Graduate Students, and Professional Students.

 

Listen to the Money Education Assistant Director, Nick Kilmer on an interview with KBTX where he talks about New Year's Resolution: Take control of your finances in 2021.

At a time when the future of education is being debated, we have an opportunity to not just evolve for COVID-related reasons but to reexamine more broadly what and how we learn. One of these areas includes financial literacy. 

To view the full article, visit The Financial Education Experience We Need Right Now.

Fifty-four percent of young American adults who went to college took on some kind of debt — including student loans — to fund their education, according to the Federal Reserve. The average amount of educational debt in 2018 was between $20,000 and $24,999, with the typical monthly payment ranging from $200 to $299.

Meanwhile, the cost of college continues to rise. The average tuition and fees for the 2018-2019 academic year ranged from $10,230 for a public four-year in-state school to $35,830 for a private nonprofit four-year school, according to CollegeBoard. It’s no surprise, then, that students are seeking school loans to pay for their education. However, Generation Z might be reversing the trend by looking for other ways to pay for college, according to this survey.

To find out more visit the article, How Gen Z Plans To Avoid Student Loans.

The Federal Trade Commission (FTC) in a letter warned Frank, a startup aimed at helping students apply for financial aid, that it is potentially misleading students about the company’s ability to help them access emergency grants made available under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

View the full article, FTC Warns Financial Aid Startup.

The US Department of the Treasury recently issued the new National Strategy for Financial literacy. This is much needed, in particular in a time of crisis and a good part of the report is devoted to how to help people in these difficult times and the critical role of financial education.

To view the full article, visit Financial Education Should Be Part Of The Recovery From The Covid-19 Recession.

Try the new Federal Student Aid Loan Simulator. The Loan Simulator is a new tool to help you make decisions about your student loans. Use it to find a repayment plan that meets your needs and goals or to decide whether to consolidate.

Visit the Loan Simulator webpage.

If you need financial aid to help pay for college, you must complete the Free Application for Federal Student Aid (FAFSA) form. The 2020–21 FAFSA form is available beginning Oct. 1, 2019. You should fill it out as soon as possible on or after Oct. 1 at the official government site, fafsa.gov.

It’ll be easier to complete the FAFSA form if you gather what you need ahead of time. View the article to find out what you’ll need to fill it out.

7 Things You Need Before Filling Out the 2020–21 FAFSA® Form

Our Financial Aid FAQ page contains updated information on common financial aid processes for the Fall 2020 semester. Covering topics like submitting documents, courses counting, and financial aid refunds, this page is a great resource that will help students answer common financial aid questions.