Tag: Life Stage: Student

Get a solid financial foundation for college and beyond.

College Student

Positioning Your Income/Assets to Enhance Financial Aid Eligibility

ASK A FINANCIAL PLANNER   What Does it Mean to Enhance Your Financial Aid Eligibility? If you qualify for federal financial aid, there are a number of strategies you can try to implement to enhance the amount of aid your child will receive when you apply for financial aid. The idea is to lower your… Read more »

Student Financial Aid

Are There Any Assets Not Counted for Financial Aid Purposes?

ASK A FINANCIAL PLANNER Yes, assuming you are talking about federal financial aid. Under the federal government’s financial aid formula, four main types of assets are excluded from consideration when determining your child’s financial need: All retirement accounts (e.g., IRAs, 401(k)s, 403(b)s) Home equity in a primary residence Annuities Cash value life insurance These assets… Read more »

Student Loans

Student Loan Payment Pause Extended Through January 2022

  On August 6, 2021, the U.S. Department of Education announced an extension of the pause on federal student loan payments to January 31, 2022. The payment moratorium, currently in effect for millions of federal student loan borrowers, was set to end on September 30, 2021. The Department noted that this extension would be the… Read more »

Dorm room

Do’s & Don’t’s of Dorm Room Shopping

Dorm life is an exciting milestone for many incoming college students, but preparing to move in can be a little daunting (and costly). It’s easy to get caught up in the excitement and overspend on items you don’t really need. So before you start shopping, consider these do’s and don’ts: Do: Review Dorm Move-In Info… Read more »

SESLOC Returns to Cal Poly

Credit Union to Provide On-Campus Retail Banking SESLOC Federal Credit Union (SESLOC) has been selected to provide retail banking and ATM service on the Cal Poly campus with a new branch in the Julian A. McPhee University Union. Associated Students, Inc. (ASI) manages and operates the University Union and worked with Cal Poly’s Strategic Business… Read more »

Back to school

Tips for Tackling Back-to-School Shopping

Back to school shopping season is already here, and experts are predicting spending to increase this year. Preparing for the new academic year doesn’t have to break the bank. Plus, involving your child in planning and budgeting is a great way to teach them about money through example. Here are 5 tips for tackling back-to-school… Read more »

Student Loans

Federal Student Loan Interest Rates Set to Increase for 2021-2022

ASK A FINANCIAL PLANNER After two years of decreases, interest rates on federal student loans are set to increase almost a full percentage point for the 2021-2022 school year.1 The interest rates on federal student loans are reset each year after the May auction of the 10-year Treasury note. The rates apply to new federal student… Read more »

Debt

Get Smart About Debt: 7 Tips to Help You Get Out of Debt NOW

If you are dealing with debt, you aren’t alone. The average American household has an average balance of about $6,600 in credit card debt, and that’s not taking into account home, auto, and student loans. Paying off your debt isn’t always easy, but having a plan can go a long way in achieving your financial goals. Check… Read more »

Federal Student Loans

Federal Student Loans FAQ

ASK A FINANCIAL PLANNER   What Are Federal Student Loans? Federal student loans are loans established by the federal government and provided to students for college and graduate school. Who Can Get a Federal Student Loan? There are eligibility requirements for federal student loans. If you have any questions about eligibility, contact the financial aid… Read more »

Recent Grads

SESLOC Resources for Recent Grads

Whether you’re moving on to higher education or launching your career, SESLOC offers financial resources to help you along your journey: The Credit Union Difference While many banks offer free student checking to young adults, the minute you age out of the account you may be subject to fees and account balance minimums. Your SESLOC… Read more »