June's Basecamp Newsletter
Welcome to Basecamp, the monthly newsletter from P1FCU! Each month, we'll bring you free tips and strategies to improve your financial well-being and insight into all the resources you have access to as a P1FCU member. The FAFSA deadline is quickly approaching, so this month we're covering the ins and outs of student loans from start to finish.
Student Loans 101 : Everything You Need to Know
With the June 30th deadline for submitting the Free Application for Federal Student Aid (FAFSA) quickly approaching, if you have a college student going to school soon, or a rising senior, be sure you're familiar with these student loan basics. It's important to know the ins and outs of student loans, from understanding what happens when you submit your FAFSA, to what happens when you're in school, and what happens to your loans when you graduate.
What is the FAFSA?
To qualify for any federally funded aid, including grants or loans, students must fill out the FAFSA. Furthermore, most schools and private scholarship programs use the FAFSA to make decisions about funding. Even if you think you won't qualify for loans or other scholarships that use FAFSA information, you should fill it out and apply anyway.
The FAFSA determines how much federal student aid a student is eligible for. This includes need-based and non-need-based aid. The FAFSA uses information like the student's income and assets, and the parent's income and assets to calculate what is called your Student Aid Index. This is a number that the FAFSA estimates you will have available to pay for college. The Student Aid Index is used by your college or university, along with individual scholarship programs, to determine your need-based aid.
If you want to know the answers to:
- What "financial need" is and how it affects you
- Do I have to make payments toward student loans while in school?
- What types of repayment plans are available for student loans?
- How do I qualify for things like deferment, forbearance, and forgiveness?
- What is the difference between federal and private loans?
Click below to read this full blog!
P1FCU x LCSC The Match
We decided to challenge LC State Golf to a series of one hole showdowns to benefit the team. Will we come out victorious? Or will LC State show us up? The full eight video series is live now on our Youtube Channel, and you won't want to miss a thing.
Win a Little Adventure
How has your summer been so far? Hopefully you're using your P1FCU Mastercard to increase your entries for a chance to win prizes that help you get out and explore. Keep racking up those swipes for a chance at our grand prize: a Coeur d'Alene Vacation Package!
What do I do if my identity has been compromised?
Identity theft is a scary and overwhelming thing to experience. If a scammer has your information, you lost your wallet, you clicked on a phishing email, or your identity has been stolen, these are the steps to follow to make sure your accounts are locked down.
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