inspire a world of good MONEY MATTERS: Understanding Your Bill, Financial Aid, & Developing Financial Literacy Academic Year Michael Discolo Associate Director of Student Accounts

inspire a world of good Costs / Health Insurance Billing Timeline & Statements / E-Bills Payment & Financing Options / Payment Plan Financial Aid / Private Loans & Outside Grants Clearance Process Developing Financial Literacy AGENDA

inspire a world of good Fall (1 st Bill) Spring (2 nd bill) Total Charges Tuition $16, $16, $32, Room/Board $7, $7, $14, General Fee $542.50$ $1, Student Activity Fee $ $ Orientation Fee $ $ Room Damage Dep. $ $ Health Insurance $2, Total Charges - $24, $23, $48, With Health Insurance, Total Charge - $50,740 Commuter (Non-Resident) Total Charges - $34, TUITION RELATED COSTS

inspire a world of good Required by the Commonwealth of Massachusetts $2,555 annual premium for academic year (8/15/15 – 8/14/16) If already covered, students must complete: Health Insurance Waiver Form To waive or enroll, students must go to: Deadline to complete waiver - August 15, 2015 HEALTH INSURANCE WAIVE / ENROLL

inspire a world of good Bills mailed to legal address each semester 1. Fall 2015 Semester Bill – Mailed July 1, 2015 – Due August 1, Spring 2016 Semester Bill – Mailed Nov 16, 2015 – Due December 18, 2015 BILLING TIMELINE STATEMENTS Students must be financially clear before they can move in, start classes, or begin sports.

inspire a world of good 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 ( or ) “Authorized Payer” – setup parents login pin and password E-BILLS / ELECTRONIC PAYMENTS

inspire a world of good 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 – College Savings Plan and Payment from 529 / Retirement Plans Federal Parent Loan for Undergraduate Students (PLUS) Loan Private Education Loans PAYMENT AND FINANCING OPTIONS

inspire a world of good 8 – 10 month payment plans over the course of the school year / 4 month plans as well Set up through TuitionPay: – $55 annual fee (8 -10 months) – $35 semester fee (4 months) Plan must be setup by: August 1, 2015 Plan must include both fall and spring semester balances (double fall balance for estimate) TUITION PAY – PAYMENT PLAN

inspire a world of good Credit Based Loans – May borrow up to full cost of education after financial aid – 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 Outside Scholarships – Students must provide written documentation of the scholarship(s) for the pending award to be reflected on the billing statement – Student is responsible for completing the scholarship process and making sure funds are received CREDIT-BASED STUDENT LOANS / OUTSIDE SCHOLARSHIPS

inspire a world of good Assure that FAFSA (free app. federal student aid) is fully completed – verification forms sent in For students borrowing a Federal Stafford Loan – Complete Entrance Counseling (studentloans.gov) – Complete Master Promissory Note (studentloans.gov) Complete FSA ID if not yet setup – fsaid.ed.gov If receiving outside scholarships, send Financial Aid the agency notice (award letter from donor) FINANCIAL AID – THINGS TO DO

inspire a world of good Cleared Move into residential hall 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 Students that arrive must meet with Student Accounts to clear bill prior to moving in or beginning classes CLEARANCE PROCESS

inspire a world of good Wheelock is committed to developing student’s financial literacy Courses and Tools at - click on “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 Loan Repayment Options Budgeting Tools Cash Course On Campus Budgets Off Campus Budgets Life After College Education Tax Benefits Credit Reporting Paying Back Student Loans DEVELOPING FINANCIAL LITERACY

inspire a world of good Offices located in Student Service Center Student Accounts Office (ACW - 1 st Floor) Telephone: (617) or (617) Fax: (617) Financial Aid Office (ACW - 1 st Floor) Telephone: (617) Fax: (617) CONTACT INFORMATION