Get documents about "Financial Debt Help Letter
Description
Financial Debt Help Letter document sample
Document Sample
d5766eff-c3a2-484f-8286-509269eeb543.xls
Instructions to Complete 07-08 Financial Mngmt Session
800 Mickelson Dr. - Rapid City, SD 57703-4018 605-394-4034 or 1-800-544-8765 FAX 605-394-2204
The following TWO worksheets (the Budget Sheet and the Goal Statement) are a very important part of our required consumer
information programs to educate students about receiving federal financial assistance, the budgeting processes that
ALL students need to undergo for their financial health, and finally about setting goals and knowing potentially what your student
loan payments may be at the end of your enrollment at Western Dakota Tech!
Please read these instructions before you proceed to the Budget Sheet and the Goal Statement. Remember, BOTH forms must
be completed in order to complete your Welcome Day Session and in order for you to receive federal financial aid.
Budget Sheet - You will need to refer to your specific class schedule for ONE semester to determine how much you will
incur for your tuition/fee/books/supplies and other DIRECT educational costs. You will also need to refer to your award letter
or your records, and what you learned from your previous Welcome Day information to determine what kind of aid and how much
aid you qualify for. The worksheet is protected, but you can type in any cell that is colored yellow.
You will note that the blue colored cells will have a running tota. The FINAL results indicating if there is enough resources
to cover the educational expenses and the monthly living expenses are tallied in the orange-colored cells.
The chart below describes the types and maximun amounts of aid that is available at WDT.
Aid Type Maximum Annual Disbursement Schedule
(Academic Year) Amount
Federal Pell Grant $4,310.00 First Day of Classes, or During Tuition and
Fee Payment Day.
Academic Competitiveness Grant $750 for First Year Students Upon the determination of the student’s
eligibility and upon the institution’s receipt of
$1350 for Second Year Students federal funds.
FSEOG $750.00 First Day of Classes, or During Tuition and
Fee Payment Day.
Federal Stafford Subsidized Loan $3,500.00 for First Year Students First Day of Classes, or During Tuition and
Fee Payment Day.
$4,500.00 for Second Year Students
Federal Unsubsidized Student Loan $4,000.00 for First Year Students First Day of Classes, or During Tuition and
Fee Payment Day.
Students are required to attend a budgeting $4,000.00 for Second Year Students.
session (presented usually during Welcome
Day) BEFORE unsub loan funds are disbursed.
Parent PLUS Loan Parents can borrow up to the amount First Day of Classes, or During Tuition and
of COA minus other aid received by Fee Payment Day.
the student
Scholarships Determined by the awarding As they become available.
organization
Third Party Funding Determined by the awarding As they become available – usually credited
organization to the student’s Student Account.
Federal Work Study Usually $700/semester Student works to earn funds.
Goal Statement - Please take a moment to reflect on your personal goals during your enrollment at WDT.
Below is a copy of the repayment chart that will give you an idea of what your loan payments will be based upon the
WDT is a public institution of higher learning where students acquire the knowledge, skills and behaviors necessary for successful employment.
d5766eff-c3a2-484f-8286-509269eeb543.xls
amount you plan to borrow to fund your education.
Finally, please read the statements on the goal sheet and provide your initials in front of each statement.
When you're done with BOTH worksheets, please print them out and send them to the Financial Aid Office.
Thank you!!
WDT is a public institution of higher learning where students acquire the knowledge, skills and behaviors necessary for successful employment.
Financial Analysis Worksheet - 07-08 Financial Management Session
800 Mickelson Dr. - Rapid City, SD 57703-4018 605-394-4034 1-800-544-8765 FAX 605-394-2204
EDUCATIONAL EXPENSES EDUCATIONAL AID
Tuition and Fees Grants
Books Scholarships
Supplies (incl computer) Loans
Other Other
Other Other
Other Other
TOTAL ED EXPENSES $0.00 TOTAL ED AID $0.00
DO I HAVE ENOUGH $$ TO COVER MY EDUCATIONAL EXPENSES?
$0.00
MONTHLY LIVING EXPENSES MONTHLY INCOME
House Payment/Rent
Food HOURLY
Car Payment Job #1 per hour hrs/week= $0.00 per month
Transportation costs Job #2 per hour hrs/week= $0.00 per month
Utilities (electric, water) Job #3 per hour hrs/week= $0.00 per month
Phone & Cable
Medical
Entertainment SALARY & OTHER ASSISTANCE
Miscellaneous Job #1 per month
Credit Job #2 per month
Credit Job #3 per month
Credit Assistance #1 per month
Other Assistance #2 per month
Other
Other
Other EXCESS AID (from above) $0.00 (divided by 5 months) $0.00 aid per month
Other
TOTAL EXPENSES $0.00 TOTAL INCOME $0.00
DO I HAVE ENOUGH $$ TO COVER MY MONTHLY EXPENSES?
$0.00
Western Dakota Tech is a public institution of higher learning where students acquire the knowledge, skills and behaviors necessary for successful employment. 2/3/2011
Goals for 07-08 Financial Management Session
800 Mickelson Dr. - Rapid City, SD 57703-4018 605-394-4034 or 1-800-544-8765 FAX 605-394-2204
Today's Date:
Please print legibly
Name: SS#: XXX - XX -
Program:
My Educational Goals Are:
Goal 1.)
Goal 2.)
My Financial Goals Are:
Goal 1.)
Goal 2.)
I want to borrow $ under the federal student loan program to reach my educational goals.
If I borrow the amount I listed above, my loan payments (at 7.0% interest) will be about $ .
Please read the statements below and INITIAL each statement.
I know that if I take out students loans, I must include my monthly loan payments into my monthly
budget and pay the amount due on time in order to stay out of default.
I certify that I understand that I have repayment options available to me when I enter repayment,
which options may assist me in staying out of default.
I know how, or will learn how, to make ramen noodles and macaroni and cheese!
I know that it is better to live like a student now, rather than later, so I will seek smart ways to fund
my education, my monthly living expenses, and other financial obligations NOW.
I will seek help if I run into financial difficulty during my student loan repayment, rather than risk
going into default and ruin my credit, and potentially hinder future WDT students from receiving
student loans to fund their education.
Western Dakota Tech is a public institution of higher learning where students acquire the knowledge, skills and behaviors necessary for
successful employment.
Related docs
