Want to potentially win $100 and learn more about paying for college and managing your finances? Then join us on Wednesday, December 9, 2015 from 6:00pm – 7:00pm in CT230 at the Annandale Campus for the “Financial Literacy: Paying for College” workshop. We’ll discuss ways to finance your education including grants, scholarships, work-study, student loans, and the payment plan.
During the second half of the workshop, participants will be given the chance to create a CashCourse account at www.cashcourse.org and complete the “Be Credit Savvy” module to learn more about credit cards, credit scores, and credit reports. By successfully completing the “Be Credit Savvy” module, students will be entered into NOVA’s CashCourse drawings for $100 grants and $100 bookstore gift cards. Complete CashCourse Contest rules are on NOVA’s Financial Literacy Blog at http://blogs.nvcc.edu/financial-literacy/.
Approximately 13.7% of NOVA students borrowed a student loan in 2014-2015 to help finance their educational expenses according to data compiled by NOVA’s Office of Institutional Research. While this is a relatively low percentage of the student population, the college is committed to encouraging responsible borrowing and reducing the number of students who default on their loans.
By partnering with Inceptia, we have assisted over 1,300 former NOVA students in getting all of their delinquent student loans back into good standing within the last four months. The efforts of the Default Prevention Committee have also helped reduce the college’s Cohort Default Rate (CDR) from 13.6% in FY2011 to 12.0% in FY2012 (the two most recent periods for which data is available). This indicates a reduction in the percentage of NOVA borrowers defaulting on their student loans within three years after entering repayment.
Per federal regulations, students must complete the Master Promissory Note (MPN) and Entrance Counseling at www.studentloans.gov before receiving a Federal Direct Stafford Loan, and they must complete Exit Counseling upon leaving school. Borrowers are also encouraged to use NOVA’s Loan Planning Form to review their loan histories, determine the impact of additional borrowing, and to start planning how they will repay their student loans.
Check out the latest issue of The Financial Aid GREENBACK, our quarterly Financial Aid newsletter. This issue: Default Prevention/Responsible Borrowing, CashCourse Contest winners selected, the New Financial Avenue, financial literacy tool, and more. This newsletter is designed to help students and staff members stay up-to-date on the latest and greatest in the world of financial aid.
The questions and answers that follow provide information about student financial aid for undocumented students (sometimes referred to as “Dreamers”) as well as guidance for a specific subgroup of undocumented students who have received Deferred Action for Childhood Arrivals (DACA). We have grouped the questions and answers into three categories: General Information, Eligibility for Financial Aid, and Completing the FAFSA. See the financial-aid-and-undocumented-students.
The Woodbridge Financial & Administrative Services along with the AC&H English Department will be holding a scholarship application workshop on Monday, September 21, 2015 from 2:00 pm – 2:30 pm and Tuesday, September 22, 2015 from 7:00 pm – 8:30 pm in room WAS 223. Join them to learn how to locate scholarships. Writing professors will be available to guide you in writing your applications and provide feedback. Click here for more information.
Below are links to some of the FSA publications and sites for the FSA ID. If you or your parents do not find the answers below, you can always call the FSA ID helpline at (800) 557-7394.
Approximately 6,000 students nationwide who borrowed subsidized Stafford loans for the first time after July 1, 2013 should expect to hear from their loan servicers very soon because they have not completed their degree or certificate after attending college for over 150% of the published length of their program. These students will start accruing interest on their subsidized Stafford loans and in some cases the subsidy loss will be applied retroactively which could increase their monthly loan payment if they have already begun repayment. Information about the 150% subsidized loan limit is available here and additional details about the subsidy loss that is occurring this week can be found here. Students should contact their loan servicers if they have any questions about this. Students may view their loan histories and look up contact information for their loan servicers by logging into the “My Federal Student Aid” portal at www.studentaid.ed.gov.”
Looking for scholarships takes time and effort. There are thousands available and many places to look for them. They can be found at the NVCC Educational Foundation, local clubs and businesses, the State Department of Education, etc. The following article will provide a step-by-step guide on how and where to look for scholarships and the necessary process that needs to be taken to apply for the scholarships. Click here to read the article.
Check out the latest issue of The Financial Aid GREENBACK, our quarterly Financial Aid newsletter. This issue: Department of Ed partners with NOVA, Win $100 in CashCourse Contest, the New Financial Aid & Student Accounts Support Center, and more. This newsletter is designed to help students and staff members stay up-to-date on the latest and greatest in the world of financial aid.
Are you thinking about pursuing a career in a public service at a non-profit organization or are you currently working at a non-profit organization? If so, and if you have borrowed federal student loans you should definitely know about the Public Service Loan Forgiveness program. After working full-time for at least 10 years at a public service organization while making at least 120 qualifying monthly loan payments after October 1, 2007 the remaining balance of your Federal Direct student loans may potentially be forgiven. Read more about the Public Service Loan Forgiveness program here.
