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Paying the Bill

Paying the Bill. 2006-2007. Red to Black. TM. Red to Black. TM. Free and Confidential Peer Financial Planning for Texas Tech Students redtoblack@ttu.edu (806) 742-9781 www.r2b.ttu.edu. Red to Black Can Help You. TM. Choosing a Credit Card Understanding the Cost of Debt

Thomas
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Paying the Bill

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  1. Paying the Bill 2006-2007

  2. Red to Black TM

  3. Red to Black TM Free and Confidential Peer Financial Planning for Texas Tech Students redtoblack@ttu.edu (806) 742-9781 www.r2b.ttu.edu

  4. Red to Black Can Help You TM • Choosing a Credit Card • Understanding the Cost of Debt • Creating a Spending Plan for College • Avoiding Financial Hardships in College • Getting Financial Questions Answered • Talking with Peers about Financial Issues

  5. Red to Black Topics TM • Outreach Based • Cash Management & Budgeting • Identity Theft • Employee Benefits • Student Loans & Consolidation • Credit Reports & Credit Scores • Client Based • Saving vs. Spending • Creating a Budget • Student Loans • Opening a Bank Account • Planning for Education Costs • Student Income Taxes • Pre-marital Financial Counseling  

  6. Student Business Services

  7. Student Financial Center • Student Business Services and Student Financial Aid are excited about the opportunity to better serve our students. With a new combined lobby, our services will provide the following:

  8. Student Financial Center cont. • Self Help Services - Pay bill by check or credit card - Set up payment option plan - View Tuition and fee bill - Complete FAFSA online - View and accept aid awards - Print requested forms - Raider Aid Access - Complete Loans by Web - Complete Entrance and Exit Counseling

  9. Student Financial Center cont. • Cashier Services - Pay bill with cash - Emergency Enrollment Loan - Sign up for direct deposit - Texas Tomorrow Fund contracts - Endorse scholarship check(s) - Be reinstated after cancellation - Sign for paper loan checks • Other services - Third party payments - Waivers and exemptions

  10. Student Business Services Information • Student Business Services is a student service oriented office that is here to help you and make the process of paying tuition as simple and convenient as possible. • We welcome student and parent comments and suggestions at any time. Please let us know how to serve you better!

  11. Location • Our office is located in 301 West Hall. • Our normal lobby hours are Monday through Friday 8:00 AM until 4:30 PM.

  12. Telephone • Telephone questions will be answered at either our local number 806-742-3272 or toll free 866-774-9477 from 8:00 AM until 4:50 PM each day.

  13. Internet • Access to your student billing information is available at a minimum from 7:00 AM until midnight every day. • Access to the SBS website is 24/7.

  14. Important Dates & Information • Fall 2006 due date for undergraduate advanced registration is August 21, 2006. • 1st Cancellation – August 21, 2006 (For the 1st cancellation only, students with Parent PLUS loans will have their registration held; therefore will not be cancelled.) • 2nd Cancellation – September 13, 2006 • 3rd Cancellation – September 25, 2006

  15. Billing Information • Payment arrangements may be made at orientation, via the TechSIS website or by eBill after registration. • Fall eBills will be available by August 1, 2006 through the SBS eBill system. Students may set up parents or others to log on to make payment.

  16. IMPORTANT • It is very important that payment arrangements are made by the due date. • If payment arrangements are not made, the advanced registration schedule will be cancelled and a new schedule will have to be obtained during open registration.

  17. Payment Options • Use a credit card or check to pay on the web • Pay with a check or money order by mail • Use the Payment Option Plan (in fall or spring) • Third Parties such as Texas Guaranteed Tuition Plan, Must sign Third Party Contract • Receive and accept a financial aid award package • Utilize an Emergency Enrollment Loan as funds are available.

  18. Credit Card • Pay online (no convenience fee) www.sbs.ttu.edu click on TechSIS, eBill for Students or eBill for Parents link. • Pay in person at 301 West Hall using self help computers.

  19. Personal Check • Pay online (no convenience fee) www.sbs.ttu.edu click on Techsis link • Mail to Student Business Services, Texas Tech University, Box 41099 Lubbock, TX 79409-1099 (5-7 days prior to the due date) • Express Mail to Student Business Services, Texas Tech University, 163 Drane Hall, Lubbock, TX 79409

  20. 3 Payment Option Plan • Requires 50% of tuition and fees (including housing, dining and optional fees) plus a $25 fee. • Student eBilled in two additional monthly payments-October 2 and November 1 in Fall, February 15 and March 15 in Spring. • Plan must be set up through eBill system by the due date.

  21. Emergency Enrollment Loan • If funds are not available for payment by the due date, the student may request an emergency enrollment loan. • Loan covers only first 50% of tuition and mandatory fees. • Forms available at 301 West Hall. • $25 processing fee must be paid with the submission of the form.

  22. Financial Aid • Students who have received and accepted a financial aid award package will have their funds, including Parent Plus Loans, automatically applied to their tuition and fee bills. • If the applied aid does not cover 100% of tuition and fees, the student will need to cover the remaining costs with one of the other payment options.

  23. Refunds • Direct Deposit • Faster • All direct deposits up to 10 days prior to first class day • No fee for the service • Form available at www.sbs.ttu.edu • Refunds by check available beginning on the first class day. Must have current address in system.

  24. Credit Card Refunds • All refunds for payments made by credit card will go back as credits to the same card.

  25. Incidental Fee eBills • During the semester, incidental fees such as traffic & parking, additional meal plans, library fines, etc may be added to the tuition and fee bill. • Monthly eBillings are sent each Friday. These billings will be due upon receipt and delinquent after the 1st of the following month. Bills not paid timely will receive a $25 monthly late fee. • We encourage students and parents to view and pay these balances online.

  26. E-mail reminders • E-mail reminders are sent to the student’s official TTU e-mail address. • These reminders may indicate a balance due, impending cancellation of schedule or that a hold has been placed on their record. • Please remind your student to check their official TTU e-mail regularly.

  27. Student Business SERVICES • We are 100% committed to serving our students and parents. • Please e-mail your suggestions or concerns to sbs@ttu.edu. • Thank you.

  28. Questions????? • We will be available immediately following the Financial Aid presentation to answer group or individual questions.

  29. Student Financial Aid ~ Our Mission Statement ~"The Office of Student Financial Aid provides financial assistance to students who, without such assistance, would not be able to pursue higher education."

  30. What is Financial Aid? • Scholarships • Grants • Loans • Employment opportunities

  31. Definition of Need Cost of Attendance (COA) – Expected Family Contribution (EFC) = Financial Need

  32. Cost of Attendance • Tuition and fees • Room and board • Books and supplies, equipment, transportation, and miscellaneous personal expenses • Loan fees • Study abroad costs • Dependent care expenses • Expenses related to a disability • Expenses for cooperative education program

  33. Direct Cost of Attendance • For 2006-2007, Texas Tech’s cost of attendance for the year (Fall/Spring) is: $ 6,759 Tuition/Fees $ 6,720 Room & Board $ 845 Books $14,324 TOTAL

  34. Independent Student Definition • Born before January 1, 1983; • Graduate or professional student; • Married; • Has legal dependents other than a spouse; • Orphan or ward of the court; • Veteran of the U.S. Armed Forces

  35. Application Process - 1 Apply for your PIN www. PIN. ED. GOV

  36. Application Process - 2 Complete the Free Application for Federal Student Aid www. FAFSA. ED. GOV

  37. CAUTION! FREE FREE FREE FREE FREE • The FAFSA is • www.FAFSA.ed.gov

  38. Frequent FAFSA Errors • Divorced/remarried parent information • Income earned by parents/stepparents • Untaxed income • U.S. income taxes paid • Household size • Number in postsecondary education • Real estate and investment net worth

  39. Corrections • Corrections may be made (if necessary): • On the paper SAR • Using Corrections on the Web (PIN required) • By the school • SAR Acknowledgement cannot be used to make corrections

  40. TTU Scholarships • Merit (through the Honors College) • No application required • University • Through Student Financial Aid • Apply through State Common Application • College/Departments • Available on department websites

  41. Federal Pell Grant • For eligible undergrads • pursuing first bachelor’s degree and • Award amount based on • Cost of Attendance, • Expected Family Contribution (EFC), and • Enrollment Status

  42. Loans • Stafford (subsidized and unsubsidized) – Will have a fixed interest rate of 6.8%. • Parent PLUS – Will have a fixed interest rate of 8.5%. • Alternative • Texas B-On-Time - Loans that were disbursed prior to 07-01-06 have a variable interest rate that changes each July 1st.

  43. Red Raider Student Employment Center • Our goal is to provide assistance to currently enrolled Texas Tech students who are searching for part-time jobs to help pay their way through school, and assist employers who are searching for Texas Tech students to fill their part-time positions. Any full-time or part-time Texas Tech student can use our free service, regardless of financial need.

  44. RRSEC cont. • To accomplish our goal, the RRSEC will: • Advertise job listings available to students and employers 24 hours a day, 7 days a week. Students may search for part-time positions on the web. • Provide information about part-time employment to students and employers. • Provide information to students and employers about the federal work-study program. We hope we are able to help you with your employment needs, and thank you for using our services!

  45. Other Sources of Funds • State • grants, scholarships, loans, and work programs • For full listing visit:www.CollegeforTexans.com • School • athletic, academic, other talent-based programs, grants, scholarships, loans, and work programs • Private business scholarships • Civic organization scholarships

  46. Private Scholarship Search • Internet: • College Board’s Scholarship Search www.collegeboard.com/pay • FastWeb Scholarship Search www.fastweb.com • Scholarship Resource Network Express www.srnexpress.com

  47. Private Scholarship Search cont. • Local library resources • Local businesses and civic organizations • Parents’ places of employment

  48. Avoid Being Scammed If it costs money to get something for free, it is probably not worth it. • Information about financial aid scams and tips to avoid being scammed is available: • Department of Education’s web site at: www.ed.gov/prog_info/SFA/LSA • Federal Trade Commission’s web site at: www.ftc.gov/bcp/conline/publs/alerts/ouchart.htm

  49. Avoid Being Scammed cont. • To check the legitimacy of scholarship search organizations or individuals check Better Business Bureau’s web site at: • http://search.bbb.org/search.html

  50. What to remember? Meet all application priority dates. TTU priority dates for financial aid are: • Fall – April 15th • Spring October 1st • Summer March 1st • All Scholarship Applications for continuing students must be received by February 1st

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