1 / 21

Financial Literacy Update Federal Student Aid

Financial Literacy Update Federal Student Aid. Elizabeth Coogan Senior Advisor, Customer Experience Office U.S. Department of Education. Tools for Every Stage of Student Aid. 3. Stay Informed: Integrated Student Experience. StudentAid.gov

stone-larsen
Download Presentation

Financial Literacy Update Federal Student Aid

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Financial Literacy Update Federal Student Aid Elizabeth Coogan Senior Advisor, Customer Experience Office U.S. Department of Education

  2. Tools for Every Stage of Student Aid 3

  3. Stay Informed:Integrated Student Experience StudentAid.gov Students can now go to www.StudentAid.gov to find comprehensive and standardized information on financial aid. The site offers powerful, intuitive tools to assist students in searching for colleges, applying for aid, and managing repayment. 4

  4. Stay Informed:Integrated Student Experience 5

  5. Stay Informed:Integrated Student Experience 6

  6. Compare Schools:Overview ED produced Institution produced Private Sector or Gov’t 7

  7. Compare Schools:College Scorecard The College Scorecard is a planning tool and resource to help student and families focus on affordability and value. http://collegecost.ed.gov/scorecard/index.aspx The Scorecard provides essential information about college costs, graduation rates, and potential earnings in a standardized easy to read format. It is meant for use during the early stages of the college search process. 8

  8. Compare Schools:College Scorecard 9

  9. Compare Schools:Net Price Calculator Net price calculators are available on school websites and allow prospective students to enter information about themselves to find out what students like them paid to attend the institution in the previous year, after taking grants and scholarship aid into account. 10

  10. Compare Schools:Net Price Calculator 11

  11. Compare Schools:Financial Aid Shopping Sheet Adopted by over 670 institutions (as of March 2013) and distributed to nearly 3 million prospective students, the Financial Aid Shopping Sheet is a standardized, Department-approved template for disclosing the true cost of college attendance, which enables recipients to compare higher education decisions more effectively. http://www2.ed.gov/policy/highered/guid/aid-offer/index.html 12

  12. Compare Schools:Financial Aid Shopping Sheet 13

  13. Apply for Aid:FAFSA • Takes less than 30 minutes to complete • Processed in 3-5 days • Uses skip logic • IRS Data Retrieval Tool • Pre-populates tax information 14

  14. Manage Debt:Enhanced Entrance and Exit Counseling • Income-Driven Repayment • Entering Repayment • Navigating Repayment • Loan Limits • Things You Need to Know • Private Loans NOTE: Exit Counseling will not include “Manage Your Spending.” 15

  15. Manage Debt:Repayment Estimator 16

  16. Manage Debt:Repayment Estimator 17

  17. What do we need to know? Some research questions to be considered: • What programs and practices are working? • What information has the greatest influence on borrowing behaviors? • What are the best delivery mechanisms? • To what extent are media messages, social media, or other similar venues effective? • How important is high quality advice for positive financial outcomes? 18

  18. Questions 19

  19. Contact Information Elizabeth Coogan elizabeth.coogan@ed.gov 202.377.3825 20

More Related