New Student Orientation, Fall 2016 Student Financial Services

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New Student Orientation, Fall 2016 Student Financial Services
LET’S TALK MONEY:
PREP COURSE IN
PAYING FOR COLLEGE
New Student Orientation, Fall 2016
Student Financial Services
What Will Be
Covered Today?
Where You Want to Be Today
When and How to Pay
Receiving Your Funding
Student Budgeting in Chicago
Maintaining Your Eligibility
Staying on Track
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Where You Want to Be Today
January – Completed FAFSA
at FAFSA.gov
March – Reviewed Award
Letter
May
• Applied for PLUS Loan
• Submitted missing
documents
• Reviewed bill
• Reviewed payment options
June
• Submitted official final high school
and college transcripts
• Signed up for payment plan
July
• Submit documents for third-party
benefits
• Set up authorized payers and direct
deposit in CCCPay
• Pay any portion of your bill not
covered by financial aid or payment
plan
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Nancy’s Timeline
Where Nancy’s At
What’s Next
• Completed FAFSA in April
 Review Student Account Summary
• Completed entrance counseling and
master promissory note
 Set up direct deposit
• Parent applied for PLUS loan
 Authorize payers
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Ben’s Timeline
Where Ben’s At
What’s Next
• Completed FAFSA in January
 Submit high school transcript
• Received and reviewed Award
Letter
 Complete third-party benefit release
for 529 College Savings Plan
• Checked OASIS portal
 Determine payment plan account,
and sign up
 Authorize payers
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Ben’s Financial Situation
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When and How to Pay –
One-Time Payment
Payment Due: Fall – August 1
Spring – December 28
CCCPay in OASIS - E-check or credit/debit card
• Students and authorized payers
On-campus Cashier
• Cash, check, money orders or cashier's checks
Mail
• Please make checks out to Columbia College Chicago
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When and How to Pay –
Payment Plan
Columbia’s payment plans are automated
• Can use a credit/debit card or bank account
• Sign up early for lowest fees and down payments
• Tip: Use an e-check to avoid the 2.75% fee for credit and debit cards
Both semester and annual plans
• Deadline: August 1
• Tip: Annual plan benefits include lower overall fees and once a year sign-up
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Receiving Your Funding
Loans – Week before semester begins
CCC Scholarships – Week before semester begins
Financial Aid
Disbursement
Pell Grant and MAP Grant* – Week 5 of the semester
Third-party Benefits – Later in the semester
Release of refunds depends on disbursement timeline
*www.colum.edu/mapfaq
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Student Budgeting
U-Pass
• Unlimited bus and train usage (CTA only; Metra not included)
• Full-time students only (12+ credit hours)
• $132 per semester for Fall/Spring, $100 for Summer term
Book Charge
• Choose $100-$750 to add on Campus Card
• Must be used on campus in bookstore, for printing and in vending machines
• To qualify, financial aid credit balance or payment plan required
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Student Budgeting in Chicago
Do:
Don’t:
• Take public transit – U-Pass
 Drive daily or take Uber/cabs often
• Rent or buy used books
 Buy new books
• Grocery shop (local stores, Peapod)
 Eat out all the time
• Use the free CCC gym
 Buy a gym membership
• Thrift shop
• Ask for student discounts
 Shop the Magnificent Mile every
weekend
• Find the free events and concerts
 Pass up free food
• Buy non-perishable items in bulk
 Buy only brand names (generics are
usually just as good!)
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Mastering Your Money with $ALT
As a Columbia student, you receive a free membership to $ALT Money
$ALT provides:
• Articles on financial, job and scholarship topics
• Budgeting and student loan repayment tools
• Online courses on financial fundamentals
• SALT Central: online community and student blog
Sign up for $ALT today using your Loopmail account at
saltmoney.org/colum
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Maintaining Your Eligibility
Complete the FAFSA every year, beginning on October 1
Submit any required documents by the published dates
Successfully complete all courses you attempt
• 2.0 GPA required for federal financial aid
• 3.0 GPA required for Columbia scholarships
Finalize your course schedule by August 15
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Staying on Track
Before your first semester begins:
 Create authorized payer accounts in CCCPay
 Sign up for direct deposit in CCCPay
 Pick up your campus card and U-Pass
Before every semester begins:
 Ensure your funding is secured by the payment deadline
 Sign up for a payment plan in CCCPay
 Request a book charge (if applicable)
Be sure to check your Loopmail throughout the semester to be aware of
scholarship opportunities and keep track of deadlines.
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CONNECT WITH US
(866) 705-0200
colum.edu/sfs
@ColumbiaSFS
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