Were you one of the 16 randomly selected students who won $100 grants or bookstore gift cards by participating in NOVA’s CashContest during fall 2016?  If not, consider entering the CashContest during the spring semester for a chance to win $100 while also learning more about managing your finances.  Complete contest rules are posted on NOVA’s Financial Literacy blog at https://blogs.nvcc.edu/financial-literacy/. The next module, “Credit and Protecting Your Money” must be completed by March 5, 2017 to be entered in the contest.

Check out the ECMC “Fab Gab” Financial Literacy Newsletter available here for tips on:

Stretching Your Refund Across the Semester

10 Ways to Reduce Your Grocery Bill

Student Loan Basics

IRS Warning of a ‘Federal Student Tax’ Scam

On May 27, 2016 the IRS released a statement warning of a scam involving a bogus “Federal Student Tax”. As provided in their statement, the scam is currently presented as “phone calls from IRS impersonators demanding payment for a non-existent tax, the ‘Federal Student Tax.’”

The IRS’ statement includes further explanation of what the scam includes, how students and taxpayers can protect their information, and how the IRS is responding to the issue. More information on the IRS statement can be found on the irs.gov website, at https://www.irs.gov/uac/newsroom/irs-warns-of-latest-scam-variation-involving-bogus-federal-student-tax.

The fourth CashCourse Contest drawing recently came to a close.  Were you one of the eight $100 winners?  If not, consider taking about 20-30 minutes to enter in the final drawing by successfully completing the “Making the Most of Employee Benefits” module at www.cashcourse.org by the June 10, 2016 deadline.  Eight more $100 winners will be drawn from the pool of current NOVA students who complete the final module with a post-test score of at least 80%.  Complete contest rules are available on NOVA’s Financial Literacy blog at http://blogs.nvcc.edu/financial-literacy/.

While on the Financial Literacy blog, you may also want to check out the money management resources that are available. It features some great tips on getting your finances under control and saving some money.  In case you’re interested, there’s also an article about the college’s other financial literacy programs available here.

Pick a federal student loan repayment option that’s right for you in 5 steps or less here.  Examples of federal student loans include Direct Loans, Stafford, PLUS and Perkins loans.

To celebrate the Class of 2016, Inceptia has published its third annual “Great Advice for Grads,” a collection of articles that offers practical advice and words of wisdom for money, loans, and living one’s best life.  Check it out here.  

April is National Financial Literacy Month which means it’s a great time to review your finances and develop a plan for managing your money.  Some excellent resources are available on NOVA’s Financial Literacy Blog.

You may wish to review the Money Management for College Students presentation, request a free copy of your credit report at www.annualcreditreport.com, and set up a budget and savings plan.  You could also enter NOVA’s CashCourse Contest for a chance to win $100 while learning about managing your finances.

If you haven’t already done so, remember to reapply for financial aid by completing the 16-17 FAFSA at www.fafsa.gov and submitting any items that may be requested on your NOVAConnect To Do List before the May 1, 2016 priority filing date for fall 2016.

If you’ve borrowed student loans we also encourage you to utilize NOVA’s Loan Planning Form to review your loan history, determine the impact of additional borrowing, and start planning for loan repayment.

You can file your taxes FOR FREE if you meet the below requirements. Visit the IRS website at https://apps.irs.gov/app/freeFile/jsp/index.jsp?ck for more information.