Greetings! Happy August 1st! Summer is coming to an end and school is right around the corner making some of you super excited, nervous, or sad. But whatever the feelings are, there’s a month left so enjoy it as much as you can with weather permitting beach days, BBQ, late night cruises, amusement parks, fishing and anything else you define as fun.
But as you are enjoying yourself, take a few moments to handle a few things so you will be ready for school in the fall. The first thing that is truly important is THE SCHOOL BILL. Sometime in August you will be receiving a bill if you haven’t already, and this is something ALL students should take care of before school starts. Differentiate the cost of housing, tuition, mandatory service fee, instate/ out of state fees, and fees that can be waived. Look at your bill thoroughly to understand it and to ensure you are being billed for the right thing. For example if you received a scholarship to cover your tuition, look to see if this has been applied and the cost was deducted. If not make sure to call the Bursar’s office.
Like all other businesses, colleges and university expects their bill PAID IN FULL. If for any reason you have trouble making the payments, here are some ideas to consider:
- Use your own saving or checking account even if you didn’t intend to use this money for the school bill
- If you are a dependent of someone such as your parents or legal guardian, speak to them and see if they had a plan to pay the bill, like a savings account they set aside for your college funds
- Ask close relatives and friends to see if they can lend you money
- Call and make an appointment to meet with someone from the Bursar’s office to see if they can help in any way or extend your due date.
- Check with your Bursar’s office to see if they offer any payment plans and if there is a deadline to enroll in this plan.
- Call and make an appointment to meet with a finance advisor from the financial office to see if you qualified for Direct Parent Plus loans, or if they can extend your William D. Ford Federal Direct Loan (unsubsidized or subsidized).
But remember if you do qualified for the William D. Ford Loan Extension, this will affect your aid for the summer. If quailed with these loans you are only allowed a certain amount to borrow per year. Check with your school financial office to see the min and max amount you are allowed to borrow.
- Get a job! Check with financial office to see if you quailed for work-study program. If you qualified, please note the amount you are awarded for work study will not be deducted from the bill, but it will be your responsibly to find a job, earn this money, and apply it to your bill
- Look and apply for scholarships within your community, online, at the school you are attending
Remember when applying do not give any personal information such as your social security numbers or bank account numbers regardless if it’s over the phone, email, or mail.
- Consider applying for private loans outside of the schools. Be sure to do your research and understand the agreement and terms before borrowings. Some things to look for when getting private loans are interest rates, repayment process, borrower’s terms, and cancelation policies.
Wheather you have one zero or five zeros on the total amount, make sure you pay it and have a balance of zero dollars in the end.