Featured Resource: DBO Student Loan Consumer Advisory
BEWARE: Your student loan servicer may attempt to steer you away from income-based repayment plans that have lower monthly payments and into standard payment plans that are easier for them to service.
DBO is committed to providing consumers with helpful information on a variety of financial topics. This short interactive learning experience will prepare you with the right skills to manage your financial future! Simply click the button at right to get started!
- Federal Student Aid (FSA), an office of the U.S. Department of Education, consolidates student aid resources into a searchable online database intended for use by organizations and individuals who interact with students and families on making financial preparations for postsecondary education. Financial literacy is a critical component of every student’s education, whether he or she is making the decision about where to go to college and how to pay for it, or deciding whether to enter the workforce.
Money for CollegeHere are some tips to help you plan and pay for college from the California Student Aid Commission.
- Pay As You Earn Repayment Plan
- National Endowment for Financial Education – General
- National Endowment for Financial Education for College Students
- Look into the California Chafee Grant, if you are or were in foster care.
- Learn more about federal financial aid, including federal Pell Grants, Federal Supplemental Educational Opportunity Grants, National SMART Grants and federal Academic Competitiveness Grants.
- Explore private scholarships. Ask your school about scholarships offered by organizations or businesses in your community and search the free scholarship Web sites, starting with FastWeb and the College Board Scholarship Search Service.
- Look into federal loans for students and parents first, if you need to borrow. The low interest rate is fixed for the life of the loans and you’ll have at least 10 years to repay, along with other benefits. Keep in mind that accepting a loan means accepting the responsibility for repaying the money you borrow.
- Learn more about financial aid programs offered by colleges.
- Consider becoming a volunteer in return for money for college. Learn more about AmeriCorps, California Volunteers and the California Conservation Corps.
- Look into taking Advanced Placement or International Baccalaureate courses in high school and then take the exams to earn college credit.
- Learn more about the education benefits offered by the military or for veterans.
- Explore the federal tax breaks for education.
- Learn more about planning for college.
Fund Your Future: Apply for Free Money for College! Read the Details…Resources
Student Loan Servicers: What Consumers Need to Know
Starting July 1, 2018, the Department of Business Oversight (DBO) will license and regulate Student Loan Servicers engaged in business in California. As part of this new program, the DBO will field complaints from borrowers and enforce violations of the underlying law, the Student Loan Servicing Act.
Love Your Money
The University of Tennessee Extension – Department of Family and Consumer Sciences sponsors this Web site featuring an online course that provides college students the tools they need to manage their money, understand financial markets, and save and invest wisely.
Cost Comparison Worksheet from the Consumer Financial Protection Bureau (CFPB)
Tools to help high school students transition to college
Advise on: College Preparation, Applying for College, Paying for College and Succeeding in College. National Association for College Admission Counseling (NACAC)