1. Financial Wellness Education For College Business Officers
Leveraging Student Contact Opportunities

2. Financial Wellness Education For College Business Officers
News Headlines
Current Total Student Loan debt $1.5 trillion
Total delinquent $300 billion
Average Student Debt of New Graduates $28,400

3. Financial Wellness Education For College Business Officers
Frontline Departments for Student Financing Inquiries
Business Office
Financial Aid
Admission
Case for college-wide financial literacy efforts

4. Financial Wellness Education For College Business Officers Key Players in Aid Administration
Internal
External
Upper Management
Determines size of institutional grants and scholarships
Sets Guidelines for internal aid
Financial Aid Department
Awards Aid to eligible students
Ensures regulations are adhered to
Monitors satisfactory academic progress
Federal Government
Federal Grants and Loans
Federal regulations
Oversight of schools and aid eligible programs
State Government
Provides Guidance to schools relating to State grants, scholarship and loans
Monitors schools for compliance with aid regulations

5. Financial Wellness Education For College Business Officers
Student Contact Opportunities
Tuition Payments
Student Loan Disbursement Review
Refunds Inquiry

6. Financial Wellness Education For College Business Officers
Student Contact Opportunities – Contd.
Inquiry on Unanticipated Shortfall
Financial Aid is less than originally estimated
Failure to maintain satisfactory academic progress, resulting in aid cancellation
Scholarship sponsor discontinues funding
Etc.

7. Financial Wellness Education For College Business Officers
What financial literacy information should business officers possess to enable them leverage the various points of contact with students?

8. Financial Wellness Education For College Business Officers
How Financial Aid is Awarded
Scholarships – Institutional and external
Federal and State Grants
Excelsior and Enhanced TAP
Loans

9. Financial Wellness Education For College Business Officers
Various campus-specific ways students can save money and avoid over- borrowing
choosing dining options wisely
using campus shuttle buses instead of driving
choosing cost effective housing arrangements
Interest accrual on Unsubsidized Loans
Benefits of making payments while in school

10. Proposed Federal Regulations
Higher Education Act of 1965
Reauthorizations
Gainful Employment regulation
Borrower Defense to Repayment
PROSPER Act
Skin in the Game
The federal government provides regulatory oversight of schools to ensure the integrity of the federal aid programs.

11. Financial Wellness Education For College Business Officers
Reassure students that education is still a worthy investment

12. Financial Wellness Education For College Business Officers
Thank you!
Mr. Clemente LaPietra
Executive Director, Office of Loan management
Monroe College

13. Financial Wellness Education For College Business Officers