Financial Literacy Boot Camp Anthony Morrone Director of Financial Aid Nevada State College.
-
Upload
jaliyah-spinney -
Category
Documents
-
view
212 -
download
0
Transcript of Financial Literacy Boot Camp Anthony Morrone Director of Financial Aid Nevada State College.
![Page 1: Financial Literacy Boot Camp Anthony Morrone Director of Financial Aid Nevada State College.](https://reader035.fdocuments.in/reader035/viewer/2022070307/551a7cec550346761a8b4e8c/html5/thumbnails/1.jpg)
Financial LiteracyBoot Camp
Anthony MorroneDirector of Financial Aid
Nevada State College
![Page 2: Financial Literacy Boot Camp Anthony Morrone Director of Financial Aid Nevada State College.](https://reader035.fdocuments.in/reader035/viewer/2022070307/551a7cec550346761a8b4e8c/html5/thumbnails/2.jpg)
Financial Literacy Regimen
![Page 3: Financial Literacy Boot Camp Anthony Morrone Director of Financial Aid Nevada State College.](https://reader035.fdocuments.in/reader035/viewer/2022070307/551a7cec550346761a8b4e8c/html5/thumbnails/3.jpg)
Exercise 1: Financial Aid
What is it? Financial Aid is assistance provided to eligible students by the government, schools and private donors to pay education-related expenses.
Financial Aid may be awarded as:GrantsScholarshipsWork-StudyLoans
![Page 4: Financial Literacy Boot Camp Anthony Morrone Director of Financial Aid Nevada State College.](https://reader035.fdocuments.in/reader035/viewer/2022070307/551a7cec550346761a8b4e8c/html5/thumbnails/4.jpg)
Applying for Aid
Federal and StateFAFSA (Free Application for Federal Student Aid)www.fafsa.govSchool will receive results and contact you
Nevada State College Foundation ScholarshipsApplication available online December - April www.nsc.edu/finaid
Third-Party ScholarshipsList of opportunities on NSC websiteMany deadlines in winter and early springWrite an essay and apply to as many as possible
![Page 5: Financial Literacy Boot Camp Anthony Morrone Director of Financial Aid Nevada State College.](https://reader035.fdocuments.in/reader035/viewer/2022070307/551a7cec550346761a8b4e8c/html5/thumbnails/5.jpg)
FAFSA(Free Application for Federal Student Aid)
2014-2015 FAFSA available Jan. 1, 2014 www.fafsa.govValid for Fall 2014, Spring 2015, Summer 2015Gather 2013 tax return and earnings statementsSet aside at least 30-45 minutes to complete
PINwww.pin.ed.govAllows you to electronically sign FAFSAOne PIN per SSN, good for life
IRS Data Retrieval: An easier way to provide tax information. With just a few simple steps, students & parents who have completed their IRS tax return will be able to view & transfer their tax information into their FAFSA. May reduce additional documentation requests from FA Office.
![Page 6: Financial Literacy Boot Camp Anthony Morrone Director of Financial Aid Nevada State College.](https://reader035.fdocuments.in/reader035/viewer/2022070307/551a7cec550346761a8b4e8c/html5/thumbnails/6.jpg)
Stats
![Page 7: Financial Literacy Boot Camp Anthony Morrone Director of Financial Aid Nevada State College.](https://reader035.fdocuments.in/reader035/viewer/2022070307/551a7cec550346761a8b4e8c/html5/thumbnails/7.jpg)
Exercise 2: Budgeting
Creating a school-year budget allows you to compare your estimated financial resources against your planned educational expenses http://studentaid.ed.gov/prepare-for-college/choosing-schools/consider/budget-calculator
Creating a monthly budget helps you track your actual income and spending habits, which you can compare with your planned school-year budgethttps://www.mint.com
![Page 8: Financial Literacy Boot Camp Anthony Morrone Director of Financial Aid Nevada State College.](https://reader035.fdocuments.in/reader035/viewer/2022070307/551a7cec550346761a8b4e8c/html5/thumbnails/8.jpg)
Exercise 3:Responsible Borrowing
http://studentaid.ed.gov/sites/default/files/ResponsibleBorrowing_ENGLISH.wmv
![Page 9: Financial Literacy Boot Camp Anthony Morrone Director of Financial Aid Nevada State College.](https://reader035.fdocuments.in/reader035/viewer/2022070307/551a7cec550346761a8b4e8c/html5/thumbnails/9.jpg)
Debt Management
Borrow only what you need according to your budget
Be aware of the debt you are accumulatingNSLDS www.nslds.ed.gov $ALT https://www.saltmoney.org
Explore your repayment options and estimate your monthly paymentwww.studentloans.gov
![Page 10: Financial Literacy Boot Camp Anthony Morrone Director of Financial Aid Nevada State College.](https://reader035.fdocuments.in/reader035/viewer/2022070307/551a7cec550346761a8b4e8c/html5/thumbnails/10.jpg)
Exercise 4: Understanding Credit
Credit rating affects many areas of lifeAbility to purchase goods and servicesEmploymentHousing
Use credit responsiblyCredit rating is affected by
• Percent of total credit used• Opening and closing accounts• “Hard” inquiries on your credit report• Timing of payments
![Page 11: Financial Literacy Boot Camp Anthony Morrone Director of Financial Aid Nevada State College.](https://reader035.fdocuments.in/reader035/viewer/2022070307/551a7cec550346761a8b4e8c/html5/thumbnails/11.jpg)
Credit Reports
Credit reports may include: A list of companies that have given you credit or loansThe total amount for each loan or credit limit for each
credit cardHow often you paid your credit or loans on time, and the
amount you paidCompanies that have asked to see your credit report
within a certain time periodYour address(es) and/or employersOther details of public record
![Page 12: Financial Literacy Boot Camp Anthony Morrone Director of Financial Aid Nevada State College.](https://reader035.fdocuments.in/reader035/viewer/2022070307/551a7cec550346761a8b4e8c/html5/thumbnails/12.jpg)
Review Your Report
Your rights to your credit reportsFederal law requires each of the three nationwide
consumer credit reporting companies to give you a free credit report every 12 months if you ask for it.
Order 1 credit report every 4 months to monitor your report over the entire year
Report any discrepancies immediately
![Page 13: Financial Literacy Boot Camp Anthony Morrone Director of Financial Aid Nevada State College.](https://reader035.fdocuments.in/reader035/viewer/2022070307/551a7cec550346761a8b4e8c/html5/thumbnails/13.jpg)
Understand and Know Your Score
Each of your credit scores will vary depending on the criteria used by the credit agency
Monitoring your credit score is a good way to track if there is any suspicious activityDrops in score because of
• Unauthorized credit checks• Account usage• New lines of credit opened
![Page 14: Financial Literacy Boot Camp Anthony Morrone Director of Financial Aid Nevada State College.](https://reader035.fdocuments.in/reader035/viewer/2022070307/551a7cec550346761a8b4e8c/html5/thumbnails/14.jpg)
Exercise 5: Identity Theft
Don't access secure websites, such as online banking, from shared computers or in public.
Use the privacy settings on social networking sites to ensure you're only sharing information with those you trust.
Only provide your Social Security number when necessary, such as for employment, tax forms or bank records.
Be careful opening files, links, emails, etc. from unknown sources or from a friend's account that may have been hacked.
Check the security of online stores before you purchase. Shred all sensitive information before throwing in the trash. When sharing personal information with certain professionals, such as
tax preparers or mortgage lenders, be sure to choose companies you trust.
![Page 15: Financial Literacy Boot Camp Anthony Morrone Director of Financial Aid Nevada State College.](https://reader035.fdocuments.in/reader035/viewer/2022070307/551a7cec550346761a8b4e8c/html5/thumbnails/15.jpg)
Monitor your Information
Check your accounts at least weekly for suspicious activity.Immediately report small unauthorized charges.
Keep your receipts and compare against monthly statements or online accounts.
Secure wireless devices and connectionsKeep PINs and passwords safe
Not written on or kept with cardsNot under keyboard or in notebookDon’t use “password” or “123456”
![Page 16: Financial Literacy Boot Camp Anthony Morrone Director of Financial Aid Nevada State College.](https://reader035.fdocuments.in/reader035/viewer/2022070307/551a7cec550346761a8b4e8c/html5/thumbnails/16.jpg)
![Page 17: Financial Literacy Boot Camp Anthony Morrone Director of Financial Aid Nevada State College.](https://reader035.fdocuments.in/reader035/viewer/2022070307/551a7cec550346761a8b4e8c/html5/thumbnails/17.jpg)
Protect your Information
“SKIMMING” Be aware of card-swiping devices
Hand-held Mounted
ATM or vestibuleGas pump Any exposed card swiping device
![Page 18: Financial Literacy Boot Camp Anthony Morrone Director of Financial Aid Nevada State College.](https://reader035.fdocuments.in/reader035/viewer/2022070307/551a7cec550346761a8b4e8c/html5/thumbnails/18.jpg)
Exercise 6: Career Services
NSC Career Services Center [email protected] The CSC@NSC serves as a career hub for students, alumni
and employers. Its purpose is to arm all NSC students and alumni with the professional toolbox required to navigate a lifetime of career choices, while opening the doors to a network of job opportunities.
CSC@NSC services & programming includes:• Career Skills & Interests Testing• Career Goal Setting & Academic Planning• General Career Counseling/Resources/Events• Resume and Cover Letter Writing Support• Interview Skills Training & Mock Interviews• Post-Baccalaureate and Graduate School Insight• Dress for Success Free Suit Referral for Women
Click on the briefcase icon in NSC Portal
![Page 19: Financial Literacy Boot Camp Anthony Morrone Director of Financial Aid Nevada State College.](https://reader035.fdocuments.in/reader035/viewer/2022070307/551a7cec550346761a8b4e8c/html5/thumbnails/19.jpg)
Exercise 7: Tax Preparation
If you earn income and no one is claiming you as a dependent on their taxes, you should consider filing even if you are not required to do so.You may be entitled to education benefits
• American Opportunity Credit• Up to $2,500 for qualified education expenses
• Lifetime Learning Credit• Up to $10,000 for qualified education expenses
• Student Loan Interest Deduction• Up to $2,500 per year
• Tuition and fees deduction• Up to $4,000 per year
Our office does not offer individual tax advice, please consult a tax professional.
![Page 20: Financial Literacy Boot Camp Anthony Morrone Director of Financial Aid Nevada State College.](https://reader035.fdocuments.in/reader035/viewer/2022070307/551a7cec550346761a8b4e8c/html5/thumbnails/20.jpg)
Exercise 8: Q&A
What have you learned today that you will use in your daily life as a financially savvy student?
What would you like to learn more about in upcoming sessions?
What would you tell your fellow classmates about the seminar?
How can we make the seminar series more valuable to you?
![Page 21: Financial Literacy Boot Camp Anthony Morrone Director of Financial Aid Nevada State College.](https://reader035.fdocuments.in/reader035/viewer/2022070307/551a7cec550346761a8b4e8c/html5/thumbnails/21.jpg)
Would You Like More Information?
Feel free to contact us:[email protected]
2014-15 Scholarship Application
http://nsc.edu/finaid