FLIGHT
NOVEMBER 2017
FINANCIAL LITERACY INFORMATION FOR GRADUATE/PROFESSIONAL HEALTH STUDENTS OF TODAY
INSIDE THIS ISSUE December Graduates . . . . . . . . . . . . . . 1 Young Adults Spending Less. . . . . . . .1 FAFSA Schedule. . . . . . . . . . . . . . . . . . . 2 Student Loan Forgiveness. . . . . . . . . . 2 Student Loan Grace Period. . . . . . . . 3 SAM. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Scholarships . . . . . . . . . . . . . . . . . . . . . . . 3
FINANCIAL AID
One Stop Shop 901.448.7703
Gloria Dobbs Counselor, College of Health Professions gdobbs1@uthsc.edu Skype: glor.dob90 Phyllis Faulkner Counselor, College of Pharmacy pfaulkn1@uthsc.edu Debra Bolton Counselor, College of Medicine dhall48@uthsc.edu Janice G. Maddox Literacy Coordinator and Counselor, College of Graduate Health Sciences and College of Dentistry jmaddox9@uthsc.edu Skype: janice.maddox3 Samuel Matheny Executive Director of Financial Aid and Retention samuel.matheny@uthsc.edu Paulette Moore Associate Director of Financial Aid and Counselor for College of Nursing pmoore8@uthsc.edu Skype: lette.bee60
ATTENTION: DECEMBER GRADUATES FEDERAL EXIT LOAN COUNSELING
If you are scheduled to graduate on December 14, 2017, have ACCEPTED Federal Student Loans, and applied the funds toward the cost of tuition, you are required to have exit loan counseling before you graduate. You can complete exit counseling online at studentloans.gov. The timely repayment of your student loans is important to maintaining a good credit history, especially if you wish to consider applying for future consumer or student loans. Therefore, it is important to know who owns your loan, when your payments are due, how to make a payment, and your total amount of indebtedness. Federal regulations require that all students who have borrowed from the federal loan programs receive exit loan counseling. Exit loan counseling provides details regarding a borrower’s rights and responsibilities for student loan repayment, deferment options, and loan consolidation benefits. If this requirement is NOT completed by December 1, a hold will be placed on your account. If you need further assistance, please contact Janice Maddox at jmaddox9@uthsc.edu or 901.448.7703.
IN U.S., YOUNG ADULTS REPORT SPENDING LESS THAN IN THE PAST by Sean Kashanchi and Jeffrey M. Jones Young adults seem more hesitant to spend than did people of the same age group nine years ago. Among 18- to 29-year-olds, daily spending self-reports aver-aged $74 in 2016, down sharply from an average of $93 in 2008. Spending reports of other age groups were similar in 2008 and 2016. The results are based on analysis of Gallup U.S. Daily tracking data. It compares 2008 to 2016 (rather than 2017 year-to-date) to ensure seasonal patterns in spending do not bias the estimates. Since 2008, Gallup has asked U.S. adults to report how much they spent “yesterday.” The measure, based on more than 175,000 interviews annually, gives an indication of discretionary spending. The full question wording is: “Next, we’d like you to think about your spending yesterday, not counting the purchase of a home, motor vehicle or your normal household bills. How much money did you spend or charge yesterday on all other types of purchases you may have made, such as at a store, restaurant, gas station, online or elsewhere?” Learn more about Young Adults Report Spending. 1