Videos Tips on Financial Aid Admin 3 months ago Transcript 0:00 I’m here to give you guys some tips on how to keep financially responsible 0:05 while you’re in college. As a college freshman there are a lot of options for managing your money 0:09 responsibly. Talking with your parents can be really helpfulm, it’s getting 0:13 feedback from someone that has experience 0:16 with managing their money. Create a budget 0:18 put it on paper just so its easy to tell where the money is coming from 0:22 and where it’s going. Mistakes may happen along the way but it’s just a way to learn for the future. 0:27 Another important thing to talk about is who’s going to be having access to the 0:31 financial information. It’s a family decision 0:34 to figure out whether your parents have access, 0:37 whether a primary caregiver in general will be able to have access. 0:41 There also are federal guidelines 0:43 that dictate who has access. We’re super excited to have you join the ASU family. 0:48 For your first year here at ASU, you’re going to be looking at the on campus budget. 0:52 Research has shown that students who live on campus or with their parents 0:55 do much better academically. When looking at these budgets, it is important to 0:59 remember that this is an estimate of what your cost of attendance may be 1:02 which could vary depending on your major, what meal plan you choose, your residence hall 1:07 and various decisions you make based on transportation and personal costs. 1:11 it’s important to consider what financial resources you’re going to have available to you 1:15 These resources could include financial aid, parental contributions, or earnings from work. 1:21 To pay your bill at ASU there are a couple things you need to know. 1:24 First, you should understand that your bill is going to be billed on a semester basis. 1:28 However, your financial aid will be rewarded annually. 1:31 Make sure you know what resources you have available to you and make sure that you 1:34 educate yourself on the FAFSA, without the FAFSA you won’t be able to be 1:38 awarded any federal funding. 1:40 To activate your financial aid, you simply act on your awards on myASU. 1:44 It is important to remember that the loans offered to you aren’t necessarily how much you are going to need. 1:49 Be sure to take out only as much as you need to limit your borrowing. 1:53 If you do decide to take out a loan, make sure you activate them early as there might 1:56 be additional steps to have them dispersed. Parents, remember that the 2:00 parent plus loan is completely dependent on your credit so it might take a little while to 2:04 have that one processed. Make sure you pay attention to the tuition due dates 2:07 on your myASU. 2:09 Students that have financial aid might be given a grace period for this due date but it’s 2:13 still important to stay on top of the tuition deadlines calendar. 2:16 Access to your account is available virtually everywhere. 2:18 We even have a myASU app for your phone. 2:21 To access your account, 2:22 you can go on your myASU and click the finances tab at the top of the page. 2:27 There will even be an exclamation mark if there’s anything new for you to see. 2:30 Here you can pay your bill, see your financial aid for the year or for the semester, 2:34 and see if there’s anything more that you need to do to get your financial aid rolling. 2:38 The last important steps are to sign up for direct deposit and to designate 2:42 an authorized payer. Direct deposit will ensure that your funds come to you much faster 2:47 than waiting for a check if you’re expecting a refund. A lot of students get a checking 2:50 account when they go to college, 2:52 a lot of those come with bank cards like atm cards or debit cards, 2:56 Midfirst actually offers the Pitchfork card which kind of 2:58 combines your ASUID with your bank card. A lot of banks have online banking 3:03 or mobile banking that you can utilize to help make sure your balance is what you 3:07 think it is and you don’t overspend! Also credit cards, 3:10 a lot of those aren’t availabe to ASU students until after they graduate 3:14 but for those students to whom they are available, you just have to make sure that you’re using them responsibly. 3:18 it’s really important to pay your ASU bills and bills with other institutions 3:21 on time every time. 3:23 The best way to build your credit score is just to make sure that your credit 3:26 card balances are low and all of your bills get paid time. 3:29 It’s really really easy to be a victim of identity theft so it’s very important to keep your 3:33 personal identification information safe. 3:35 Someone stealing your identity could very easily ruin your credit score and 3:38 it’s really hard to recover from that. Your credit report is available to 3:42 insurance firms, 3:44 businesses, people who are going to rent you an apartment or house. 3:48 So it’s really really important to keep good credit. ASU is dedicated to ensure your success. 3:53 If you have any questions concerns or just need help getting through 3:55 your first year, makes you come by the office 3:58 or just check the ASU website where we laid out all the answers for you.