Financial Literacy Services

St. Philip’s College is dedicated to providing students with the financial education and training necessary to make informed financial decisions. Our goal is to inform students on the appropriate use of budgeting, funds management, and student loans. Our dedicated staff is here to provide online financial literacy information and resources.

April is Financial Literacy Month 

The month of April is Financial Literacy Month and we are partnering up with Financial Aid to bring you information, resources, and scholarships.  Below is a list of weekly activities that you can do to help improve your financial knowledge and win scholarships. 

RULES:

Complete 1 task each week to be entered into a drawing for a $250 scholarship. 10 scholarships will be given out each week! If you are completing iGrad, please send me an email at erehome@alamo.edu with your certificate and Banner ID.  If you are completing the FAFSA for the 2020/2021 academic school year, please submit a screen shot with Banner ID to erehome@alamo.edu

Week 1:

  • Loom Video with Survey:
    • Borrowing Smart (Link coming April 1, 2020)
  • FAFSA 2020/2021 Academic School Year- Turn in a snapshot of your application with Banner ID
  • Register for iGrad- Complete 1 Financial Literacy Module- turn in certificate with Banner ID- If you want to be entered in weekly, you must submit a different certificate. Date on certificate must be April of 2020
  • Test your Knowledge on Student Loans-Subsidized and Unsubsidized Loans-Max questions 4

Week 2:

  • Loom Video with Survey:
    • Monitor and Protect (Link coming April 1, 2020)
  • FAFSA 2020/2021 Academic School Year- Turn in a snapshot of your application with Banner ID
  • Register for iGrad- Complete 1 Financial Literacy Module-turn in certificate with Banner ID- if you want to be entered in weekly, you must submit a different certificate. Date on certificate must be April of 2020
  • Test your Knowledge on Student Loans-Default, Delinquent, Deferment, Forbearance- Max questions 4

Week 3:

  • Loom Video with Survey:
    • Plan and Spend (Link coming April 1, 2020)
  • FAFSA 2020/2021 Academic School Year- Turn in a snapshot of your application with Banner ID
  • Register for iGrad- Complete 1 Financial Literacy Module-turn in certificate with Banner ID- if you want to be entered in weekly, you must submit a different certificate. Date on certificate must be April of 2020
  • Test your knowledge Student Loans- Ways to track you Student Loan Debt

Week 4:

  • Loom Video with Survey:
    • Save and Build for the Future (Link coming April 1, 2020)
  • FAFSA 2020/2021 Academic School Year- Turn in a snapshot of your application with Banner ID
  • Register for iGrad- Complete 1 Financial Literacy Module-turn in certificate with Banner ID- if you want to be entered in weekly, you must submit a different certificate. Date on certificate must be April of 2020
  • Test your Knowledge Student Loans- Repayment

Week 5:

  • Loom Video with Survey:
    • Purchasing A Used Car (Link coming April 1, 2020)
  • FAFSA 2020/2021 Academic School Year- Turn in a snapshot of your application with Banner ID
  • Register for iGrad- Complete 1 Financial Literacy Module-turn in certificate with Banner ID- if you want to be entered in weekly, you must submit a different certificate. Date on certificate must be April of 2020
  • Test your knowledge Student Loans-Exit Counseling

New Service

Students can now receive free online financial coaching from a certified financial coach!

Certified Financial Coaching 

Contact Enida Rehome at erehome@alamo.edu for more information or if you have questions. 

Why is Financial Literacy Important?

With student loan debt and student credit card debt on the rise, many students leave college with more debt than they are prepared to handle. By providing financial literacy to students, they are more prepared to make wise financial choices while still attending school and are better prepared after they graduate from college to handle the responsibilities of debt. 

Paying for College

There are several financial options out there to help reduce the cost of college. Student Engagement Grants, scholarships, work-study employment are no-cost options but have limited availability, and require certain qualifications. You should apply for as many as are available to you. Applying early and every year you are in college will help ensure you access all the gift aid for which you qualify.  For more information about scholarships, visit alamo.edu/spc/scholarships/.

For detailed information about Student Financial Aid, visit alamo.edu/district/financial-aid/.

Managing Your Money

Managing money can be a challenge for many reasons. Cash is being replaced by credit cards, debit cards and pre-paid cards which makes spending very easy and saving much more difficult. Money management is all about minimizing your debt, maximizing your income and establishing your savings. We are here to help you gain the tools needed to become a skilled spender and saver.

Simple steps to help manage your money:

  • Start a Savings Plan
  • Follow a Budget
  • Monitor Your Spending
  • Don’t Buy on Impulse
  • Use Credit Wisely

Paying Back Your Student Loans  

Check your Federal Student Loan information and balance at National Student Loan Data System.  You will need to make sure your FSA ID is set up to access your account.  There are eight different repayment options when it comes to your student loans.  Please review your options below and contact Enida Rehome with any questions or concerns you may have.

Repayment Plans:

Standard Repayment Plan

Graduated Repayment Plan

Extended Repayment Plan

Pay As you Earn Repayment Plan (PAYE)

Revised Pay as you Earn Repayment Plan (REPAYE)

Income-Based Repayment Plan (IBR)

Income-Contingent Repayment Plan (ICR)

Income-Sensitive Repayment Plan

**IMPORTANT**   The PAYE, REPAYE, IBR, and ICR plans all offer forgiveness for remaining loan balances after a set period of time. But, these forgiven amounts may be treated as taxable income, which could potentially raise your tax bill.

Default Prevention/After College

Life after college will present new challenges from finding a new career to establishing a budget and paying off your student loans. A student loan will go into default when you fail to make payments and your account is 270 days delinquent. Once the loan is considered in default, the entire balance (principal, interest and collection fees) is immediately due and payable. If you default, it means you failed to make payments on your student loan according to the terms of your promissory note, the binding legal document you signed at the time you took out your loan. Your school, the financial institution that made your loan, your loan guarantor and the federal government can all take action to recover the money you owe.  If you have questions about paying your student loan debt or are having financial difficulties, contact our dedicated staff for more information about your options. Seek help as early as possible to avoid student loan default, as it can have very serious consequences.

You can also visit the Alamo Colleges District website for additional resources:

Alamo Colleges District Financial Literacy

Contact Information

Financial Literacy Coach
Enida Rehome
erehome@alamo.edu
(210) 486-2140

Location
MLK Campus - Sutton Learning Center (SLC) 102C