Money Matters: Understanding Your Bill, Financial Aid, & Developing Financial Literacy 2017-2018 Academic Year Michael Discolo Manager of Student Accounts

Agenda Costs / Health Insurance Billing Timeline & Statements / E-Bills Payment & Financing Options / Payment Plan Financial Aid / Private Loans / Outside Grants Clearance Process Developing Financial Literacy

2017-2018 Tuition Related Costs Fall (1st Bill) Spring (2nd bill) Total Charges Tuition $17,475.00 $17,475.00 $34,950.00 Room/Board* $7,487.50 $7,487.50 $14,975.00 General Fee $625.00 $625.00 $1,250.00 Student Activity Fee $150.00 $150.00 Orientation Fee $275.00 $275.00 Room Damage Dep. $100.00 $100.00 Health Insurance** $2,679.00 $2,679.00 $26,112.05 $25,587.50 $51,700.00 Resident Total Charge - $51,700.00 Commuter (Non-Resident) Total Charge - $36,625.00 ** With Health Insurance, Total Charge - $54,379.00 (resident) $37,879.00 (commuter)

Health Insurance Waiver / Enrollment Required by the Commonwealth of Massachusetts $2,679 annual premium for 2017-2018 academic year (8/15/17 – 8/14/18) If already covered, students must complete: HI Waiver Form To waive or enroll, students must go to: www.universityhealthplans.com Students currently enrolled in MassHealth must complete waiver to enroll in BCBS Health Insurance. Deadline to complete waiver is August 15, 2017

Billing Timeline 2017-2018 Statements Bills mailed to legal address (on file) each semester Fall 2017 Semester Bill Mailed July 1, 2017 Due August 1, 2017 Spring 2018 Semester Bill Mailed Nov 15, 2017 Due December 20, 2017 Students must be financially clear before they can move in, start classes, or begin sports.

E-bills / Electronic Payments Electronic billing statements can be found on the student portal – My Wheelock Online payments can be made by electronic check or credit/debit card AMEX payments cannot be used online - must be called in to Student Accounts (617-879-2121 or 617-879-2236) “Authorized Payer” Setup parent login pin and password

Payment and financing options Personal Check, Money Order, Traveler’s Check (mail to college – return envelope in July billing packet) Visa, MasterCard, American Express or Discover Electronic Check / Credit/Debit Card Payment through Wheelock on-line Billing and Payment System (My Wheelock) Wire Transfer Monthly Payment Plan through TuitionPay – http://www.tuitionpay.com College Savings Plan and Payment from 529 / Retirement Plans Federal Parent Loan for Undergraduate Students (PLUS) Loan Private Education Loans

Tuition pay Tuition Payment Plan 8 – 10 month payment plans over the course of the school year 4 month plans are available as well Set up through Tuition Pay: $55 annual fee (8 -10 months) $35 semester fee (4 months) Yearly plan must be setup by: August 1, 2017 Plan must include both fall and spring semester balances (double fall balance for estimate) http://www.tuitionpay.com

Credit-based Student Loans / Outside Scholarships Credit Based Loans May borrow up to full cost of education after financial aid - Cost of Attendance Please initiate requests NOW so we can ensure processing prior to the bill due date Decide on amount (plan for both terms) and choose a lender - ELM Select / Parent-Plus Outside Scholarships Students must provide written documentation of the scholarship(s) for the pending award to be reflected on the billing statement- Award Letter Student is responsible for completing the scholarship process and making sure funds are received

Financial Aid – Things to do FAFSA (Free Application for Federal Student Aid) Confirm completion and that all verification forms have been submitted (completed annually in spring) Financial Aid Verification Paperwork (if required) Send in completed verification form, tax transcripts, etc. Federal Stafford Loan Complete Entrance Counseling (www.studentloans.gov) Complete Master Promissory Note (www.studentloans.gov) Ensure FSA ID is accurate (www.fsaid.ed.gov) Outside Scholarships Send agency notice into Financial Aid (award letter from donor)

Clearance Process Cleared Non-Cleared Move into residential hall and attend orientation Begin attending classes Participate in athletics and extracurricular activities Non-Cleared Receive weekly notifications prior to start of semester Cannot attend classes or move onto campus Must meet with Student Accounts to clear bill prior to moving in or beginning classes

Developing Financial Literacy Wheelock is committed to developing student’s financial literacy Courses and Tools at www.wheelock.edu/finaid click “Financial Literacy” link Assistance in creating a budget, managing finances, and understanding student loans Cash Course Online tool to navigate finances during and after college Studentloans.gov – loan counseling Budgeting Tools Cash Course On Campus Budgets Off Campus Budgets Life After College Education Tax Benefits Credit Reporting Paying Back Student Loans

Contact Information Offices located in Student Service Center Student Accounts Office (ACW - 1st Floor) Telephone: (617) 879-2236 or (617) 879-2121 Fax: (617) 879-2386 Email: studentaccounts@wheelock.edu Financial Aid Office (ACW - 1st Floor) Telephone: (617) 879-2443 Email: finaid@wheelock.edu