The Stats of Life
25% of college students graduate with this much credit card debt:
a)More than $1,000
b)More than $5,000
c)More than $7,500
d)More than $10,000
b) More than $5,000
At Temple University, Student Financial Services office helps students understand their financial aid package and discusses available options to pay for tuition.
This is where their office is located.
Carnell Hall, Ground floor
In order to receive grants, loans, and work study from the federal government, students need to complete their FAFSA. The earlier the FAFSA is completed, the more funds you are eligible to receive.
This is when you can start to fill out the FAFSA for the 2025-2026 academic year.
December 2024
How a grant is different from a loan.
A grant does not have to be repaid. Loans must be repaid within a certain amount of time.
The difference between the two types of cards you may be carrying in your wallet:
debit and credit
Debit card: funds are automatically withdrawn from checking account
Credit card: funds are borrowed and must be paid back, with interest
Which is the best credit card APR (annual percentage rate)?
a)9.99%
b)14.99%
c)22.99%
d)29.99%
a)9.99%
% of college students graduate with more than $10,000 in credit card debt:
a)1%
b)10%
c)25%
d)33%
b)10%
This is the Temple University FAFSA application deadline.
February 1st
Maximum number of hours a Work-Study student can work per week.
20 hours
On top of federal loans undergraduate students can take out in their own name, the government also offers these loans to parents of dependent undergraduate students to help pay for their child’s education expenses.
Parent PLUS loans
Pennsylvania’s state ranking in terms of funding for higher education
a)1st
b)12th
c)25th
d)47th
d)47th out of 50
This Temple initiative was designed to help students graduate on time and reduce student debt.
Fly in 4
% of college students who have paid a credit card late fee at least once:
a)5%
b)19%
c)37%
d)49%
c)37%
A part-time, on/off-campus job, with a flexible schedule, where students can earn $500-$1500 per semester. They are competitive jobs, so always apply to more than one!
Federal Work-Study
The difference between the two types of loans the federal government offers: subsidized and unsubsidized.
*Subsidized*: awarded based on financial need. Will not be charged any interest before you begin repaying the loans because the government subsidizes the interest
Unsubsidized: charge interest from the time the money is first disbursed until it is paid in full
Nationally, outstanding student loan debt exceeds $1 trillion. (True or False)
TRUE
$1.74 TRILLION
Temple average federal student debt is more than $20,000. (True or False)
True.
However, average federal student debt is
$24,395
% of college students who pay their credit card balance in full each month:
a)0%
b)22%
c)38%
d)47%
c)38%
Knowing where to find scholarships is key.
This assists students with identifying scholarship opportunities.
Scholarship Universe
FAFSA acronym.
Free Application for Federal Student Aid
The interest rate on subsidized and unsubsidized federal undergraduate student loans.
6.53%
You owe $5,000 on your credit card. Your interest rate is 14.99% (average rate). If you pay $100 a month, how long will it take you to pay it off in full?
a)2.5 years
b)4.5 years
c)6.5 years
d)8.5 years
c) 6.5 years
Creating a budget and sticking to it are keys to successfully managing your finances.
On average, this is the #1 expense for college students.
Tuition
The amount of student loan debt of the average college graduate (rounded)?
a)$9,700
b)$11,300
c)$28,600
d)$39,400
c)$28,600
Minimum percent of your total coursework you must pass in order to make Satisfactory Academic Progress, and stay eligible for financial aid at Temple.
67%
Do this to avoid capitalizing your unsubsidized student loan.
Make (quarterly) interest payments so you are not adding unpaid interest to the original amount borrowed
Three potential negative consequences of paying your credit card bill late.
Interest rate increase, late fee, damage to credit score
•If you borrow the maximum amount of subsidized student loans for 4 years, $19,000 total, approximately how much will you owe in INTEREST at graduation?
a)$0
b)$190
c)$860
d)$1,900
a)$0
The U.S. Department of Education pays the interest on a Direct Subsidized Loan
•while you’re in school at least half-time,
•for the first six months after you leave school (referred to as a grace period*), and
•during a period of deferment (a postponement of loan payments).
% of undergraduate CST students who apply for CST endowed scholarships
Less than 10%