HOKIE FOCUS 2006 Office of University Scholarships and Financial Aid (USFA)

CONTACT USFA Monday Thru Friday, 8:00am to 5:00pm Website preferred Phone (540) /calls returned in 72 business hours Allow Assistant Counselors to assist

FLASH.MAIL Electronic USFA newsletter Official announcements, updates, changes Parents encouraged to subscribe Free, no spamming Scholarship opportunities FLASH. MAIL

APPLICATIONS AND DEADLINES Complete FAFSA –Priority Deadline - 3/11/06 General Scholarship –Deadline - 3/11/06 Presidential Campus Enrichment Grant –Deadline – Rolling Departmental/College Scholarships –Deadline – Check w/Departments Honors – Closed until Spring 2007

AWARDS Electronic award notifications Lists aid types and amounts Including: $ Grants/Scholarships---no repay $ Work-Study---must work to earn $ Student Loans---to be repaid

Module Contents Module # 1 – Budgets –Goal Setting –Designing a Budget –Needs vs. Wants Module # 2 – Account Management –Types of Accounts Available and How They Work –The “Wonder” of Compound Interest –Account Maintenance Module # 3 – Credit Cards –Pros and Cons of Ownership –Account Management –Alternatives to Credit Cards

Module Contents Module # 4 – Debt Management –How to Control Current Debt/Manage Future Debt –Future Consequences of Debt Module # 5 – Other Benefits Available –Different Types of Financial Aid (not just for education) Module # 6 – Loan Management –Three Simple Rules to Borrowing –Terms and Conditions –Student and Car Loans Module # 7 – Consumer Rights and Responsibilities –Protecting Consumer Rights –Hazards to be Aware of Predatory Lending Identity Theft

What Do Other Students Think About The Program?

What Would You Like Your Future To Look Like?

YOUR FUTURE AT VT Accept Offer of Admission Pay the deposit Activate VT PID VT Orientation program in July E-bills Fall bills available July 15

TYPICAL COSTS Yearly Costs Virginia Resident Out-of-State Resident Tuition & Fees $6973$19049 Est. Room & Board $4766 Est. Due Per Term $5870$11908

WHAT DO I PAY? Fall charges Spring Charges - Fall aid - Spring aid Amount due Amount due *Any balance due must be covered by payment deadline*

BILL AND PAYMENT OPTIONS E-Bills - Authorized Payers Payment Options *Cash *E-Check *Check *Credit Card *Budget Tuition Plan *Other types of financial aid

OTHER FINANCIAL AID *Outside/Community Scholarships *Parent Loans *Alternative Loans

IMPORTANT REQUIREMENTS Set Up Authorized Payer(s) Report outside/community scholarships Loan recipients must complete: On-line Master Promissory Note (MPN) On-line Entrance Interview On-line Questionnaire (Perkins only) Remember to apply for aid each year

SPECIAL CIRCUMSTANCES Loss of Income Loss of Child Support Loss of Social Security Benefits Death of a Parent Divorced/Separated Unusual Medical Expenses

USFA CONTACTS: USFA Contact Information (540) Karen Richel Curriculum Specialist – Financial Literacy rl=%2Fbin%2Fcommon%2Fcourse.pl%3Fcourse_id%3D_95096 _ Presentation available at hokiefocus06