ACADEMICS
Financial Aid Resources
Financial Aid Videos and Apps
Financial Literacy Resources
Develop healthy habits for a secure financial future with the resources below from Nelnet. Create a manageable budget, learn strategies to save money for future security and set financial goals. Many first-time Direct Loan borrowers make their first substantial financial commitment with student loans. The goal of financial literacy is to educate postsecondary students to use knowledge and skills to make good decisions related to budgeting, borrowing and repayment strategies.
Let the Department of Education help you find a balance between your income, financial aid resources and living expenses. Click on the links below to read more about financial literacy from the people who bring you the Free Application for Federal Student Aid (FAFSA) form and process approximately 20 million FAFSA submissions each year.
- CashCourse is your real-life guide to making informed financial choices. Students can register for a free account to find articles, videos, calculators, worksheets and other financial tools to start taking charge of your money. CashCourse, created by the National Endowment for Financial Education, aims to help college and university students, in particular. Users can also ask questions to the site’s “financial experts” and get feedback.
- Federal law states that you can get a free copy of your credit report every 12 months from each reporting company. You have the right to ensure that the information on all of your credit reports is accurate and up to date. This website pulls your report from all three credit reporting bureaus and can help you spot identity theft early. Note that this report does not include your credit score.
- This U.S. government website provides free information on the basics of credit reports and scores. You will learn three ways to improve your credit report and score. The site encourages regular checking of your credit report to make sure that your personal and financial information is accurate and that there is no fraudulent account activity. Each of the three major credit reporting agencies collect and maintain their own records. This is the information that is used to calculate your credit score. The three major credit reporting agencies are listed below:
- Mint.com is a free financial app for computers and mobile devices that lets you input your personal finances and create a budget for yourself. You can link your accounts to it – using secure encryption and multi-factor authentication. You can also get free credit scores with tips to help improve it. With MintBills, you can organize your recurring bills in one central place and set alerts when each bill is due.
- Loan Simulator is a new tool created by the U.S. Department of Education to help students make decisions about student loans. You can use Loan Simulator to find a repayment plan that meets your needs and goals or to decide whether to consolidate. You can choose to log in using your unique FSA ID and get real-time information on your own student loans, or you can “start from scratch.”
Additional Resources
- Institutional Aid Renewable Policy
- What is a 1098-T Form and Why is it important to you?
Every January Rochester Christian University provides the IRS a 1098-T tax form for all students who were enrolled during the previous tax year. The 1098-T form helps students and/or their families determine whether or not they are eligible to receive a tax credit for a given tax year. This form is mailed to the billing address on file by January 31 each year. For more information about tax benefits, please visit the IRS website: Tax Benefits for Education
- Comprehensive Guide to Financial Aid and FAFSA for College Students
- Congressional Research Service
- The Go-To Guide for College Financial Aid
- State of Michigan Student Financial Aid
- CollegeBoard Scholarship Search Engine
- View My Aggregate Loan & Grant History
Students can view their aggregate Federal Loan and Federal Pell Grant history from all schools attended and received aid at any time on the Federal Student Aid website. All schools must report Enrollment Histories for any student receiving Federal Loans and/or Federal Pell Grants. As a borrower, you can see aggregate loan amounts and lender contact information by logging in using your federal PIN#. This information was previously found on the National Student Loan Database (NSLDS) system.
- Private/Alternative Student Loans
Students who still need help with additional funding for their education may pursue a Private/Alternative loan through a third-party lender/bank. This link provides you with a list of potential lenders to choose from. Review interest rates, repayment options, eligibility requirements and then apply for one loan. Applying with multiple lenders at once will decrease the chances of being approved. The student is the borrower. It is a loan that must be repaid, according to the lender’s requirements.
