Financial Literacy

If you wish to receive a private loan, you must meet with a Financial Aid before the loan will be processed.

A Financial Aid Advisor will review your loan history and projected debt as well as discuss loan repayment plans and estimated monthly payments.  

Set up an individual consultation with a financial aid advisor

It's never too early to start budgeting! No matter what your resources are, it is important to know where your money is going.

• With an App - There are many free budgeting apps available.  A couple of good examples are Mint and Good Budget.
• With Excel - Build an Excel worksheet to fit your needs.  Be sure to follow up and fill in your actual spending throughout the month.
• With Pen and Paper - Use a weekly spending tracker to track your daily purchases. Use the monthly plan to set goals for how much you want to spend on various items. 

Ask yourself:

• Are my expenses more than my income?  If so, what can be reduced?
• How can I earn more income?
• Am I remembering to build my savings?
• What was surprising with my budget?
• Am I happy with my spending habits?

Budgeting Tips

• Tracking your spending is a great first step to show you where your money goes.
• Do NOT use a credit card unless you can pay off the balance IN FULL each month.
• Find what works for you - debit card, cash, etc.
• Try to save ten percent of each paycheck.  It's still your money - even if it is in a savings account!
• Meet with a Financial Aid staff member to develop your spending plan.

Financial Aid is available to present to your group or student organization.  Presentations can be tailored to your group's specific needs.

Request a Presentation

As you prepare for life after school, follow the tips below. Determine whether you have federal student loans, private student loans, or both. The advice below is for federal student loans. To discuss repayment options for private student loans, contact your lender.

If you are not continuing your education, in most cases, you will have six months from the time you graduate or leave school before you have to begin making student loan payments. This is your grace period. Use this time to explore the repayment options available to you.

• Repayment Checklist
  • Compare your payment options at https://studentaid.gov/manage-loans/repayment/plans 
  • Set up your payments. You will not pay the U.S. Department of Education directly. In most cases, you will make payments to your federal loan servicer. Ask your servicer how to sign up for automatic payments. 
  • Know who to contact if you need help with your student loans. You never have to pay for student loan help.

If you are continuing your education, contact your loan servicer to request an in-school deferment. If you have unsubsidized loans, it’s even more important to consider making student loan payments while you’re in school to prevent interest from accruing (accumulating).

Beware of student loan scams.

You never have to pay for help with your student loans. As you are researching repayment and forgiveness options, make sure you are getting information from trusted sources, like ".gov" websites or your servicer’s website. The government and your servicer will never charge application or maintenance fees, so if you are asked to pay, walk away.

Student Loans:

• Loan Simulator
• Accrued Interest Calculator

Financial Literacy:

• My Money.gov
• Cash Course.org

Budgets/Tips:

• Budgeting Tips
• Save On Your Electric Bill

Saving and Investing:

• Saving Strategies
• Savings Accounts
• Investing Basics

Credit:

• Understanding Your Credit Score

Life Skills:

• Taxes 
• Communication Skills

At Indian Hills Community College, we understand that student loans can be intimidating. That’s why we have partnered with Inceptia, a nonprofit organization, to provide you with free assistance on your student loan obligations to ensure you feel comfortable and can be successful in your loan repayment.

Inceptia may be calling to help you with next steps in your repayment journey. Their friendly counselors are there to help you every step of the way. While you are in your grace period, they might reach out to you to answer questions you may have on your repayment options. If you become delinquent on your loans, they may also contact you to help find a solution that works within your means.

The Inceptia counselors are there to help you with every step by staying in touch with you via phone calls, letters, and/or emails. They will not be collecting money from you. Inceptia’s nonprofit purpose is to help you find answers to your questions and solutions to your issues. We encourage you to visit Inceptia’s Student Knowledge HQ website at www.heroknowl.org.

We understand that this is a challenging time when it comes to federal student loans. With all the recent changes to repayment plans, forgiveness programs, and court decisions, it can be hard to keep track of where things stand.

That’s why we want to make sure you’re aware that if you currently have delinquent student loans – meaning payments have not been made as scheduled -  we have some information for you: 

The good news is – help is available at no cost to you. Our institution has partnered with Inceptia, a nonprofit organization that works with student borrowers like you to help them get loans back into good standing. Their expert counselors can help you:

• Understand your options, including affordable repayment plans
• Apply for income-driven repayment
• Explore consolidation
• Review deferment and forbearance options
• Avoid default and protect your financial future

Inceptia’s services are completely free and confidential to our students – they’re simply here to help you get back on track. We encourage you to act now. The sooner you reach out, the more options you’ll have.

To get started, contact Inceptia’s Outreach Team at 855.471.1614 or visit www.heroknowl.org.