News

- Apr 20, 2018

"Jamie McKnight, 35, a mother of two, filed her federal tax return in late January, expecting to get a roughly $9,700 refund that would help her pay for rent, health care expenses and other bills," USA Today reports. "What the Kingston, N.Y., resident didn't anticipate was that nothing would show up in her bank account."

"McKnight soon discovered that the government had seized the money to apply to her overdue student loans, which she said total roughly $20,000. She says she didn't know the loans were in default, or that the feds could repay the debt with her refund.

'I waited for it to hit my account, and nothing happened,' she said. 'It's frustrating because this was supposed to be our safety net.'

To view the full article, visit https://www.nasfaa.org/news-item/14941/Tax_Refund_Got_You_Excited_Don_t_Count_On_it_If_Your_Student_Loans_Are_in_Default



- Apr 18, 2018

Students preparing to begin college and take more control over their personal finances in many cases lack the skills and knowledge to make responsible financial decisions and repay their student loans, according to a new survey from EverFi.

The survey collected data from a nationally representative sample of more than 100,000 incoming college students — most from four-year institutions — in more than 410 institutions across the country. Overall, the survey found that most respondents struggled to answer basic financial literacy questions, and on average only answered two of six questions correctly.

To view the full article, visit https://www.nasfaa.org/news-item/14855/Survey_Incoming_College_Students_Struggle_With_Basic_Financial_Literacy.



- Apr 17, 2018

It’s truly an honor to stand by your friend’s side as she exchanges vows with her beloved and takes her first steps toward marital bliss. If only those precious moments could make up for the exorbitant costs that come with being a part of her special day.

Members of the wedding party spend an average of $728 on gifts, travel and attire for the wedding, bachelor or bachelorette party and shower, according to a new Bankrate report.

The average price varies depending on where you live. Northeastern wedding party members should be prepared to shell out even more than that, with an average all-in cost of $1,070 to participate in all three events.

While those figures may be eye-boggling, it’s actually an extremely conservative estimate.

To view the full article, visit https://finance.yahoo.com/news/much-americans-spend-attend-wedding-100053961.html.





- Apr 02, 2018

Filling out the Free Application for Federal Student Aid, known as the FAFSA, is one of the most important steps students and their families can take to pay for college.

In fact, the U.S. Department of Education awards around $150 billion in financial aid annually to help students pay for their education at 6,000 colleges, universities and career schools. This aid comes in the form of grants, student loans and work-study funds. In other words, funds can be awarded, such as with a grant; borrowed; or earned through work experience.

While the Department of Education has streamlined the FAFSA process over the last two decades, students and parents often have questions about the form. Here's what to know about the FAFSA.

To view the full article, visit https://www.usnews.com/education/best-colleges/paying-for-college/articles/completing-the-fafsa



- Mar 19, 2018

Managing your money during a semester abroad is no easy feat.

After a summer internship at CNBC writing about personal finance, I left for a semester abroad armed with plenty of information to better manage my money. But now that I've been in Spain for a few months, I've found there's a lot I didn't know.

Here are six key lessons I've learned about how to manage money while studying abroad.

To view the full article, visit https://www.cnbc.com/2017/10/09/6-tricks-to-spend-wisely-during-a-semester-abroad.html.





- Nov 28, 2017

Fall 2017 Work Study End Date for Graduating Students is December 13

Per governmental regulations, students may not earn work study funds past the last date of enrollment, which is Wednesday, December 13 for Fall 2017.  If the graduating student works thereafter, all of those earnings must be paid from departmental funds.  The Student Employment Office will communicate with departments after pay period 8 regarding work study students graduating in December who may require payroll corrections. Please note: Work study students registered for the Spring 2018 term are not affected.  They can continue to be paid from work study funds for time worked between semesters.

Work Study Overtime

Beginning December 17, 2017, overtime earnings for student employees can no longer be paid from work study funds.  All overtime earnings incurred after December 17 will be paid with departmental funds only.

Student Employee Training for Transition to Workday

In preparation for the system-wide transition to Workday in December, the Student Employment Office strongly recommends that all student employees complete the following Workday training courses via TrainTraq prior to December 17th, 2017:

  1. 2113188: GA010 TAMUS Workday Core Concepts

  2. 2113189: GA020 Navigating Workday. 

Workday job aids for student employees can be found in the Workday Help module, accessible via your main Single Sign-On menu.  Supervisors, please remember that student employees should be paid for the time during which they complete any job-related training.

If you have further questions or need any clarification, please contact the Student Employment Office at workstudy@tamu.edu.




- Nov 14, 2017

Raising Awareness of Student Loan Debt Relief Scams

Student loan borrowers have reported receiving phone calls, texts, and other communications offering relief from their federal student loans or warning them that student loan forgiveness programs would end soon. Usually, the companies offering these types of services don't offer any relief at all.

Federal Student Aid (FSA) has taken several steps to raise awareness of such scams. We have posted descriptions of typical claims made by student loan debt relief companies, as well as tips on avoiding scams and getting help with loans for free, at StudentAid.gov/loanscams.

In addition to our Twitter Office Hours on Wednesday, Nov. 15 from 5–6 p.m. ET, FSA is partnering with the Federal Trade Commission (FTC) to answer your questions about repaying student loans and how to avoid debt relief scam companies. You can submit questions by including the hashtag #AskFAFSA in your tweet. We will answer your questions on Wednesday during the live event. (Don't have Twitter? You can still watch the conversation live.)

Also, Thursday, Nov. 30 from 2–3 p.m. ET, Federal Student Aid and the FTC will be hosting a webinar titled "Avoiding Student Loan Scams." The webinar will focus on what action federal loan borrowers can take if contacted by debt relief companies. Sign up for the webinar today.

Visit StudentAid.gov/loanscams for information and for links to the webinar and Twitter Office Hours.



- Oct 17, 2017

The financial health of Americans has been headline material of late and the prognosis is grim–69 percent of Americans surveyed have less than $1,000 in savings, and 3 percent have nothing put away for emergencies, much less retirement. And when it comes to financial health after college, many young adults are ill-prepared to handle their burdens.

If your institution is not yet teaching financial literacy, there is no time like the present. There are many free or low-cost ways in which you can have a significant impact on your students’ financial well-being. Here are a few suggestions.

To view full article, visit https://www.ecampusnews.com/curriculum/teach-financial-literacy-college/


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