Helena College School Code 007570

Money Matters

Quick Tips to Maintain a Healthy Student Account - It really is possible to obtain your degree with little or no debt.

  • Know your options

    • FREE MONEY!  There are a number of scholarships available to Helena College Students.  These scholarships are due throughout the entire year so it is important to monitor our scholarship page.  This is money you do not have to pay back; it is worth your time to apply.
    • Work Study is another option.  Work study is campus based employment that is willing to work around your academic schedule.  Check our website for openings.
  • Pay Attention to How Much you Borrow

    • Before accepting a student loan, remember loans must be repaid.  Loans are the last type of aid you should consider.  Grants, Scholarships, Work Study, or Pay as you go should always be considered first.  If you are not planning on attending school in the summer this is a great opportunity to earn income for the upcoming academic year.
Need help?

Visit Paybacksmarter.com to see what plan will best fit your needs.

Remember the best defense against default is communication.  Your loan service providers are there to help you and if you stay in communication with them they will work with you!  A defaulted loan will cost you higher interest rates, voided licenses (including all professional, drivers, and hunting/fishing licenses), wage and/or tax refund garnishment, and social security payments

Know What You Owe

Do you know what your student loan debt is?  To find out visit nslds.ed.gov.

The number one defense for default is communication.  There are several payment plan options available to you, some with payments as little as ten dollars per month. There is no reason to default if you stay in communication with your providers they will work with you.

What does repayment look like for you?  Visit paybacksmarter.com to help you manage your student loan debt.  At this site you will be able to enter your financial situation to see what payment plans are available to you.

Money Management

For a great budget builder visit youcandealwithit.com.

Do not forget once you get your budget built you need to keep it current.  Re-evaluate and make adjustments as necessary!

Financial Responsibility

Your student loan dollars should be used only for items directly related to your college education.

Simply put:

If you don’t need it and you have to borrow money to pay for it, you shouldn’t buy it.

Below is an example of two students that attended Helena College, John and Tony. John took all the loan money that was offered to him and attended 7 semesters to get his Associates degree. Tony was very conservative with loans and took only what he needed. He finished his program and received his Associates degree in five semesters.

John’s Financial Aid History/ 7 Semesters

Tony’s Financial Aid History/ 5 Semesters

Tuition, fees, and books   $14,700.00

Tuition, fees, and books   $10,500.00

PELL        $19,757.00

PELL        $14,112.00

LOANS    $35,750.00

LOANS    $ 5,000.00

Total Debt Plus Interest  $48,000.00

Total Debt Plus Interest   $6,905.00

Wage would need to exceed $60,000.00

Wage would need to be $10,000.00

Approximate payment = $412.00/ 10 Years

Approximate payment = $58.00/ 10 Years

Your borrowing and spending decisions will determine your debt.

Pay the accrued interest on Federal Unsubsidized Loans before the end of the grace period.Make on-time monthly payments every month during repayment. Having your loans paid automatically from your bank account is the best way to insure that you stay on track.

Maintain communication with your loan servicer. Failure to do so could result in

  • loan default
  • higher loan interest rates,
  • voided licenses (including all professional, drivers, and hunting/fishing licenses),
  • wage and/or tax refund garnishment,
  • loss of social security benefits.
The Financial Aid office at Helena College is here to help.  Please call 447-6900 with any questions.