Middlesex Community College Lists Tips On Financial Wellness Ahead Of Fall 2022 Semester

Winchester MA

15 August, 2022

9:50 PM

Description

Press release from the Middlesex Community College: August 15, 2022 As the start of the Fall 2022 semester approaches, Middlesex Community College's Success Scholars Program wants to help students stay financially well. One of the main tips the program suggests is to complete the Free Application for Federal Student Aid (FAFSA). "Completing the FAFSA is the easiest way to get money for college," said Serrahtani Parrish, MCC's Success Scholars Program Financial Wellness Coach. "Many students and their families fail to complete the FAFSA because they think they don't qualify for assistance, but that is a big mistake. They may be eligible for state or federal grants, work-study funds, or federal student loans. Completing a FAFSA can save you money and time." Parrish emphasizes that the number one rule for taking out a student loan is borrowing only what is needed. Students have to pay back their loans, so it is important to keep track of education-related finances. Starting at MCC helps to lower the costs of college overall, whether a student plans to transfer to a four-year school or jump into the workforce. College scholarships are another way to help students pay for college, according to Parrish. The benefit to earning a scholarship is not having to pay back the awarded funds. While Middlesex offers many student scholarships in partnership with the Middlesex Community College Foundation, there are also many external scholarships available for which students can submit applications. To stay ahead of finances, Parrish recommends students learn budgeting basics. This includes creating a budget and continuing to follow it. Another important basic to staying financially well is understanding how credit cards work. While using a credit card helps to build good credit, it can also lead individuals to spend too much money too quickly. Meeting with an MCC financial wellness coach or using online resources such as iGrad, will provide students with a plan to set themselves up for success during their time at Middlesex and beyond. This keeps students financially healthy, while avoiding racking up debt. MCC will host two in-person FAFSA Assistance Drop-in Days on the Lowell campus from 4:30 p.m. to 6 p.m. on Monday, August 15 and Monday, August 22. Financial aid specialists will be on hand to help students and their families fill out the free and easy application. "We're here to help," Parrish said. "It's always a good idea to make a financial wellness plan, especially at the start of a new semester." This press release was produced by the Middlesex Community College. The views expressed here are the author's own.