Financial Aid Literacy
The average first-time, first-year student borrowed $30,255 n Federal Student Loans at Albertus Magnus College in 2018-2019.
Over-borrowed on your loans? Return the overage to your lender to reduce your overall loan debt. Contact us to learn how today!
Got Debt? Graduating Soon?
Know Before You Owe!
- Log into https://studentaid.gov/
- Select the loan you want servicer information for
- Scroll down to find servicer contact information
For more information, or for help finding your servicer information, please contact the Financial Aid Office.
Utilizing Outside Scholarships can help reduce your overall loan debt!
These websites will help you with your scholarship search:
Want to know the servicer is for your federal direct loans?
- Log into https://studentaid.gov/
- Select the loan you want servicer information for
- Scroll down to find servicer contact information
For more information, or for help finding your servicer information, please contact the Financial Aid Office.
The Financial Aid Office is a regular contributor to the Albertus Blog! Visit the Blog for helpful tips and resources, and remember: we're always here to help, so feel free to contact us at anytime!
Want to know what your monthly loan payments might be?
You can utilize a Repayment Estimator to estimate your monthly federal student loan payments under each repayment plan.
Need a guide for repaying your student loans? Federal Student Aid has created a website to help you find out where to start!.
For the 2014-2015 academic year, the median loan debt that students have at Albertus Magnus College is $27,000 which translates to $331/month using the Standard Repayment Plan.*
For the 2015-2016 academic year, the median loan debt that students have at Albertus Magnus College is $27,764 which translates to $320/month using the Standard Repayment Plan.*
For the 2016-2017 academic year, the median loan debt that students have at Albertus Magnus College is $29,000 which translates to $299.85/month using the Standard Repayment Plan.*
For the 2017-2018 academic year, the median loan debt that students have at Albertus Magnus College is $29,000 which translates to $299.85/month using the Standard Repayment Plan.*
For the 2018-2019 academic year, the median loan debt that students have at Albertus Magnus College is $30,255 which translates to $348.18/month using the Standard Repayment Plan.*
Please note that there are eight repayment plans. Additional information on income-based repayment plans can be found here.
*All repayment estimates are based on total loan debt resulting from unsubsidized loans with a 6.8% interest rate.
Helpful Tips and Worksheets
9 Best Student Loans
LendEDU has compiled a list of the nine best student loans available to students.
10 Things
Navient has compiled a list of the ten things you should do before you make your
first student loan payment.
ASA Budget Worksheet
ASA has created a budget worksheet to help you know exactly where your money is going
each month.
Best Credit Cards for Bad Credit
my3cents has compiled a list of credit cards that are good for people with bad credit.
Best Student Credit Cards
U.S. News has complied information on credit card best practices as well as a list
of the best student credit cards.
Best Student Loan Companies
Consumer Affairs has compiled a list of reviews to compare top student loan companies
Budget Worksheet
It's easy to prepare a budget. Common categories are included in this worksheet;
just fill in the amount you typically using your bill statements and receipts for
the most accurate numbers.
Budget Worksheet 2
When filling in a budget worksheet, use receipts, statements, and bills to find accurate
numbers so that you can see where your money goes each month.
Budgeting for College Students
AffordableCollegesOnline has created a guide with tips, tricks, and guidance for
managing money while in school.
College Savings & 529 Plans
AffordableCollegesOnline has created a page dedicated to "expert advice and tools
to help maximize your savings potential."
Compare Private Student Loan Options
AffordableCollegesOnline has created a page dedicated to "expert advice and tools
to help maximize your savings potential."
Credits before College
LendEDU has created an online comparison for private student loan options.
Credit Card Guide
The Simple Dollar created a Credit Card Guide to help you gain in-depth financial
knowledge and practical strategies for money management that help establish a solid
financial foundation.
CT Dollars & Sense
CHESLA and CHET have teamed up to create a one-stop shop for helping you plan, save,
and pay for college.
Credit Card Tips
Properly managing a credit card is a big responsibility. Credit cards can help establish
and improve your credit score if they’re used properly. They can also damage your
credit score and get you into serious debt if you don’t know what you’re doing. Use
these tips to make sound financial decisions.
Deferment and Forbearance
To help determine if you qualify for a deferment or forbearance, FSA has compiled
information on both processes.
Financial Aid for Military & Veterans
PublicHealth has created a Financial Aid for Military & Veterans Guide.
Financial Awareness Counseling Tool (FACT)
Studentaid.gov has created a Financial Awareness Counseling Tool (FACT) to help you
understand your loan counseling.
Financial Literacy
Annuity.org has created a financial literacy website page which helps you learn how
to manage your money and take the initiative to self-educate and grow your financial
knowledge.
Graduate School Financial Aid
GoGrad has created a website with awards, loans, reimbursements and alternative methods
to fund an advanced degree.
Guide to a Debt Free College Degree
AffordableCollegesOnline has created a guide on "how to use work-study, crowd funding,
and other financial resources to pay for higher education."
Guide to Responsible Credit Card Use in College
creditcards.com has created a guide for healthy spending habits which can help ensure a secure financial
future.
How Long Will it Take to Pay Off My Loans?
Affordable College Online has compiled tools and tips for getting out of student
loan debt quickly.
How to Avoid Identity Theft
Identity theft occurs when a person commits fraud while posing as someone else. The
threat of identity theft is real and can take months or even years to recover from
once you are a victim. Use the information below to familiarize yourself with the
precautions you can take to minimize the chance of becoming a victim and, if you are
a victim, these steps will help you correct the situation.
How to Build Credit
Consumer Affairs has created a guide to help young adults (between the ages of 18-20)
and new U.S. Citizens/immigrants build their credit.
How to Calculate and Claim your Student Loan Interest Deduction
Finder.com has created a step-by-step guide to saving up to $550 on your taxes.
How to Check your Credit Score
Consumer Affairs has compiled information on the importance of checking and knowing
your credit score, especially when applying for a mortgage.
Insight into the Life of a First Generation Student
BestColleges has created a resource for first-generation students.
Managing Your Money
Use these nine tips to achieve financial wellness.
nerdscholar.com
nerdscholar is a site dedicated to empowering students to make smart financial choices
about their higher education by providing a FAFSA Guide, Scholarship Search, and Student
Loan information.
OppU
OppU encourages you to learn how to master your money every year you are in college.
Personal Finance 101
The Simple Dollar Created a "Personal Finance 101: What is a Debit Card" guide to
help students find and understand the debit card that works best for them.
Set Your Financial Goals
Healthy financial habits start by setting sound financial goals. Develop a realistic
path to achieving your goals by filling in this chart.
Strategies to Save Money
Use these tips to help save money; small adjustments lead to big savings!
Student Credit Cards
Credit Card Insider has compiled a website of information to help you understand
student credit cards and what to expect if you get one.
Student Credit Cards
Credit Card Insider has compiled a website of information to help you understand
student credit cards and what to expect if you get one.
Student's Guide to HBCU Graduate Programs
GoGrad has created a website for students pursuing graduate programs at Historically
Black Colleges and Universities (HBCUs).
Student Loan Debt and Bankruptcy
Expertise.com has created a comprehensive resource for college students and graduates
that helps make debt easier to understand and enables them to make better financial
decisions.
Student Loans the Right Way
AffordableCollegesOnline has created a resource dedicated to "Student Loans the Right
Way: Expert Advice on Applying for, Managing, and Paying Back College Loans."
Tackling Unfair College Student Loan Practices
AffordableCollegesOnline has compiled information on how to spot unfair loan servicing
practices.
Ultimate Guide to Financial Literacy
Credit Critics has compiled their "Ultimate Guide to Financial Literacy" and offers
resources to parents and educators for kids, teens, young adults, and adults.
Ultimate Saving Guide for High School Seniors Going into College
CouponFollow has created a guide to help graduating high school seniors financially
plan for college and beyond.
Understanding Credit
Sallie Mae and FICO partnered to create this manual to help you understand credit:
what it is, why it's important, and how you can maintain it.
Understanding Repayment
Check out FSA's understanding repayment information to help make your payments more
affordable.
Veterans Resources
Annuity.org knows that when it comes to preparing for the golden years, veterans
and their families have many resources at their fingertips. They include pensions,
a civilian income, Social Security (or possible disability income), VA healthcare
and tax-advantaged savings.
Your Guide to Paying Off Student Loans
Bankrate has created this guide to figure out whether refinancing, repayment, or
forgiveness holds the most promise for paying off your student loan debt.
And remember to always Borrow Wisely!
Alternative Financing Options
Looking for alternative means of financing your education?
Check out our Alternative Financing Options Page on the Albertus website for more information!