Soar with Student Financial Services: What You Need to Know

1. Soar with Student Financial Services: What You Need to Know Orientation June 25-29, 2012

2. The bill (included in your packet) • Bill due dates • Health Insurance • How to pay the balance • Work study • SALT • Financial Literacy and Scholarship workshops • Who can help? • Questions Flight Plan:

3. Will show all known charges and aid • Balance due is for fall only; will need to double to “guess-timate” annual balance • Send us copies of your student’s outside scholarships! The Bill

4. August 1st • Bill must be paid in full OR • A plan must be officially in place to cover the entire fall balance • The Business Office needs to be made aware of any plans you have to cover the bill by August 1st. • A $50 late penalty is assessed when there is no plan in place by this date. • Payment plan information is sent with bills When is the balance due?

5. For annual balance – contracted through Tuition Management Services • $55 enrollment fee; no interest charged on outstanding balance • Go to https://tuitionpay.salliemae.com/ to enroll • Ten-month plan begins in June; eight-month plan begins in August • For semester balance – handled internally with Business Office • $25 enrollment fee due with first payment on August 1st; second payment is due October 1st and third payment is due November 1st Payment Plans

6. RivierStudent Health Insurance Required for all full-time day students If the student is covered under a family plan health insurance, the Student Insurance fee may be waived. The waiver form should be completed by August 15th to avoid paying the health insurance fee. Information regarding plan – mailed in mid-July 12-month coverage (September ‘12 – August ‘13) The Resident Health fee is mandatory for all residents students; is not the same as health insurance

7. Go to www.studentloans.gov • Click on the “Start PLUS Application Process” link and complete application. • A credit check will be performed; you will be notified whether you were approved or denied • During the application process it will ask you which year - make sure to select the 2013 year. • If denied: • You can appeal the credit decision OR • You can add a credit-worthy endorser to the loan OR • You student can be eligible for an additional $4000 unsubsidized Stafford loan money. Parent PLUS Direct LoanSteps to Apply:

8. Available through private lenders; terms and conditions vary between lenders • Most have variable interest rates/some have fixed • The student is the primary holder of the loan • most students need a credit-worthy cosigner • Most lenders allow you to defer payments while the student is enrolled at least half-time Alternative / Private Loans

9. www.elmselect.com – you DO NOT have to choose one of these lenders. • This website will also link you to a loan comparison calculator. • We cannot recommend a lender; watch for those that charge an origination and/or repayment fee • Apply for enough funding to cover annual balance We cannot recommend a lender Alternative Loan Sources

10. Work Study Available jobs are posted online at www.rivier.edu/finaid in mid-August Students contact supervisors directly to secure job Does not reduce the bill Students get paid in a bi-weekly paycheck Students interested in work study will attend a mandatory Work Study Orientation session during move-in weekend. Make sure your student comes to campus with the appropriate documents to complete I9 and W4.

11. Offers free on-line financial literacy training • Job database • Scholarship search engine • One-on-one loan management advice SALT: Your student’s financial literacy co-pilot

12. Public Service Loan Forgiveness: Discharges any remaining debt after ten years of full-time employment in public service or for a non-profit. The borrower must have made 120 payments as part of the Direct Loan program in order to obtain this benefit. • Public Service jobs include (but not limited to) - Government, Public Health (nurses, nurse practitioners), Public Education, Early Childhood Education, Social Work, Public services for individuals with disabilities or the elderly • Eligible Loans - Federal Direct Stafford (subsidized & unsubsidized), Federal Direct PLUS , Federal Direct Consolidation • Loan Forgiveness for Teachers: • Perkins Loan Forgiveness: Will forgive up to 100% of your loan if you’re a full-time teacher in a district eligible for ESEA Title-1 funding, a special education teacher in a district or qualified provider of early intervention services under IDEA, or a full-time teacher in a state-designated shortage area. • Stafford Loan Forgiveness Program : Eligible borrowers may receive up to $17,500 in loan forgiveness. • TEACH Grant Program: Provides up to $4,000 a year to students who intend to teach in a public/private elementary or secondary school that serves students from low-income families. (teach.ed.gov) • *There are other programs offered in other states as well. (finaid.org) • Nursing Education Loan Repayment Program (NELRP): • A selective program that offers loan repayment assistance to registered nurses and advanced practice registered nurses, such as nurse practitioners, in return for working in a Critical Shortage Facility and nurse faculty.  In exchange for a 2-year service commitment, participants receive 60 percent of their total qualifying nursing education loan balance. Loan Forgiveness Programs

13. Financial Literacy workshops offered throughout the year - Credit cards - Budgeting - Identity Theft - Saving *Scholarship Workshop (November) - Where to find scholarships - How to write a winning essay - How to avoid scams - Hear from other students who have been successful! Workshops:

14. Contact the Business Office at: • Alisha Cooper (A-G): (603) 897-8214 or acooper@rivier.edu • Anne Arnold (H-R): (603) 897-8675 or aarnold@rivier.edu • Deanna Fortier (S-Z): (603) 897-8488 or dfortier@rivier.edu Questions Regarding Your Bill?

15. Contact us at: • Kathy Philibotte (A-L): (603) 897-8511 or kphilibotte@rivier.edu • Karla Regis (M-Z): (603) 897-8520 or kregis@rivier.edu • Mary Martin (general questions): (603) 897-8510 or finaid@rivier.edu Questions Regarding Financial Aid?

16. On behalf of the flight crew, thank you for attending this session!