MONEY MATTERS:
Understanding Your Bill, Financial
Aid, & Developing Financial Literacy
2014-2015 Academic Year
Michael Discolo
Associate Director of Student Accounts
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AGENDA
• Student Portal (view online bills and aid) –
My Wheelock
• Setting up Authorized User / Parent Login
• Health Insurance
• Billing Timeline / Clearance
• Financial Aid – To Do’s
• Developing Financial Literacy
• Questions
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MY WHEELOCK
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MY WHEELOCK
• Finances Tab –Students Can View:
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Financial Aid Documents (awards)
Current balance due on account
Electronic Bills
1098T (Tax form to claim tuition – parents)
Students Can also:
– Give parents access to online billing and payment
system (authorized payer)
– Make online payment (credit/debit, checking)
– Enroll in E-refund (direct deposit for credit on acct.)
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MY WHEELOCK-FINANCES TAB
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MY WHEELOCK
FINANCIAL AID AWARDS
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MY WHEELOCK-FINANCES TAB
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ONLINE BILLING AND PAYMENT
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BILLING STATEMENT - ONLINE
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ONLINE BILLING AND PAYMENT
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ADD AN AUTHORIZED USER
Payor Pin - “Username”
Student chooses access rights
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PARENT LOGIN PAGE – EMAILED LINK
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HEALTH INSURANCE WAIVE / ENROLL
•
Required by the Commonwealth
of Massachusetts
•
$2,346 annual premium for
2014-15 academic year
(8/15/14 – 8/14/15)
•
If already covered, students must
complete: Health Insurance
Waiver Form
•
To waive or enroll, students
must go to:
www.universityhealthplans.com
•
Deadline to complete waiver August 15, 2014
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BILLING TIMELINE
2014-15 STATEMENT(S)
• Bills mailed to legal address
in both Fall and Spring
1. Fall 2014 Semester Bill
– Mailed July 1, 2014
– Due August 1, 2014
2. Spring 2015 Semester Bill
– Mailed Nov 14, 2014
– Due December 19, 2014
Students must be financially
clear before they can move
in, start classes, or begin
sports.
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CLEARANCE PROCESS
Cleared
• Move into residential
hall
Non-Cleared
• Receive weekly
notifications prior to start of
semester (after 8/1)
• Begin attending
classes
• Cannot attend classes or
move onto campus
• Participate in athletics
and extracurricular
activities
• Students that arrive must
meet with Student
Accounts to clear bill
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FINANCIAL AID – THINGS TO DO
• Assure that FAFSA (free app. federal student aid) is fully
completed – verification forms sent in
• For students borrowing a Federal Stafford Loan
– Complete Entrance Counseling (studentloans.gov)
– Complete Master Promissory Note (studentloans.gov)
• If receiving outside scholarships, send agency notice(s) to
Financial Aid (award letter from donor)
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RE-APPLY FOR FINANCIAL AID
• Financial aid application priority deadline at Wheelock
College is April 15th – aid must be applied for annually
• Submit tax forms and other requested information, as
soon as possible
• Students must meet Satisfactory Academic Progress:
– Most aid is 2.0
– Merit Scholarships are 3.0
• Award letters are mailed out in June
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DEVELOPING FINANCIAL LITERACY
•
Wheelock is committed to developing
student’s financial literacy
•
Courses and Tools at
www.wheelock.edu/finaid - click on
“Financial Literacy” link
•
Assistance in creating a budget,
managing finances, and
understanding student loans
•
Cash Course – online tool to navigate
finances during and after college
•
Loan Repayment Options
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Budgeting Tools
Cash Course
On Campus Budgets
Off Campus Budgets
Life After College
Education Tax Benefits
Credit Reporting
Paying Back Student
Loans
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CONTACT INFORMATION
Offices located in Student Service Center
Student Accounts Office (ACW - 1st Floor)
• Telephone: (617) 879-2236
• Fax:
(617) 879-2386
• Email: studentaccounts@wheelock.edu
Financial Aid Office (ACW - 1st Floor)
• Telephone: (617) 879-2443
• Fax:
(617) 879-2470
• Email: finaid@wheelock.edu
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QUESTIONS???????
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