Student Financial Literacy and Account Information at Stony Brook University

STUDENT FINANCIAL LITERACY BURSAR/STUDENT ACCOUNTS

What Does Financial Literacy Mean For You? Financial literacy is the possession of the set of skills and knowledge that allows an individual to make informed and effective decisions with all of their financial resources. Understanding your Invoice Understanding how you are paying that invoice Understanding the impact of paying (or not paying) that invoice. Possessing the ability to explain your invoice, payment choices, and impact to your family. 2

Where We Are Located & What We Do We re located on the 2ndfloor of the Administration Building (next to Stony Bones) Student Accounts Office Post charges to your student account Process Residency appeals Bursar s Office Process Payments Issue refund checks 3

Tuition & Fees + Room & Board In-State Undergraduate Tuition & Fees Room & Board TOTAL: $5,087.40 $7,139.00 $12,226.40 Out of State Undergraduate Tuition & Fees Room & Board TOTAL: $13,922.40 $ 7,139.00 $21,061.40 4

This Is Your Student Account You are creating a financial contract with the University Regardless of who pays, you are responsible for your invoice Bills are sent to your @stonybrook.edu e-mail in early July. Due August 15. NO PAPER BILLS! You can create delegated user accounts for family members 5

This Is Your Student Account Messages and reminders are sent to your SOLAR account These messages contain brief instructions or information about your holds Refunds are sent to the bank account or address you designate This is done through your SOLAR page under the Campus Financials section 6

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Paying For College Sit down and talk about money With a family member, a mentor, or a friend Complete the FAFSA Check your To-Do List on SOLAR Create a plan for each semester Costs can increase each year Look for scholarship opportunities Will your schedule permit a part time job? On campus jobs go quickly! 8

Where You Should Look For Answers Money Smart Seawolves An entire program dedicated to your financial literacy Weekly workshops on credit, budgeting, saving & investing, dealing with student loans, etc. Chance to win the equivalent of NYS tuition ($3,535.00) 9

Your Bill First Invoice: 1st week of July Due August 15th Since you re new students, you have a grace period extended till Sept. 15th TOPP: four equal installments due on the 15th August, September, October, November What Happens if you can t pay? Finish out the semester Can t enroll in the next term, can t get a transcript Collections Activity Begins Don t Wait, Talk To Us! We re here to help 10

Steps To Continue Your Success Talk about paying for college with your family Have a SOLID Plan Ask Questions Early and Often Be Your Own Advocate Check your E-Mail and SOLAR messages 11

Next Steps To-Do 1. 2. 3. 4. Sign up for classes (that s today!) Create delegated users Receive invoice & sit down with family Pay invoice or sign up for the Time Option Payment Plan (TOPP) by September 15th Arrive on campus or practice your commute Do well and repeat for the next 7+ semesters 5. 6. You Belong Here Always Be Your Own Advocate Follow up verbal conversations with e-mail confirmations 12

Names and Numbers Erik Andersen: Bursar & Director of Student Accounts 631-632-9316 Erik.Andersen.1@stonybrook.edu Studentbilling@stonybrook.edu For questions about your invoice bursar@stonybrook.edu For questions about payment, refunds 13

STUDENT FINANCIAL LITERACY BURSAR/STUDENT ACCOUNTS Questions?