Tips on Financial Aid


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.
Previous Project Cost Management Tips: Keeping Your Project Budget Under Control
Next M1 Finance: Too Good to Be True? (no, they’re awesome)