Understanding Financial Aid
Learning to effectively manage your finances is an important skill to learn while you are in college. In the current economic climate, financial literacy on college campuses is a growing concern. More and more parents and students are turning to loans to fund the increasing cost of a college education. The financial decisions that students make now will impact them for years to come. Here is a list of tools to help students better understand their finances and make informed decisions.
Budget Planning Tools
Our office encourages students to budget their money wisely in order to avoid over-borrowing or the use of high interest loans or credit cards. In an effort to help students track their financial aid, income and expenses we have developed two budget calculators. These budget calculators are Microsoft Excel files, optimized for use on Microsoft Windows.
Budget Calculator # 1: Simple Budget Planner »
This simple budget planner allows you to quickly sum the costs associated with each quarter of attendance at UCSB.
Budget Calculator #2: Monthly Budget Planner »
This detailed budget planner allows you to compare your monthly income and expenses, including projected and actual amounts.
UCSB Financial Wellness Training
For tips and tricks about creating a student budget, try the UCSB Online Financial Wellness Training This resource is ideal for students who will be living away from home for the first time and need some advice creating a budget, understanding financial aid, and planning for the future.
Estimated Financial Aid Award Letters
The Net Price Calculator provides an estimated Financial Aid Award Letter for full-time, first-time degree-seeking undergraduate students only. Graduate students should contact our office or the graduate department directly for information.
Financial Awareness Counseling
The Department of Education has released an online tool to help you understand your financial aid and to assist in managing your finances and debt. Topics include: Understand Your Loans, Manage Your Spending, Plan to Repay, Avoid Default and Make Finances a Priority.
Financial Aid Matters Guide - A Guide for Students and Families
Our office has created this resource guide with the hopes of providing students and their families with the information necessary to navigate the process successfully.
Topics included: Aid Eligibility, Verification Process, Award Letter, Disbursements, Special Circumstances and Policies, etc.
UCSB Money Matters - Student Financial Guide
This guide is a tool to help you navigate your finances day to day and access emergency help when you need it. It includes sections on sound money management and ways to ensure that your income is adequate to meet your needs. Because unforeseen events and emergencies do happen, the Money Matters guide also offers information on staff contacts, emergency funding, and low-cost services in the local community.
CashCourse.org is brought to you by the National Endowment for Financial Education, an independent, nonprofit foundation committed to educating Americans on a broad range of financial topics and empowering them to make positive and sound decisions to reach their financial goals.
Student Loans Consolidation
U.S. News & World Report has published an in-depth guide that breaks down student loans consolidation, how they work, and what students should know before considering them. Read more here.