Iona Student Financial Services: Your Guide to Navigating College Expenses Additional Resources

Navigating the Financial Maze of Higher Education

Attending college is an investment in your future, but it can also be a significant financial burden. Iona University understands the challenges students face when it comes to paying for their education, which is why we are committed to providing comprehensive financial services to support you throughout your academic journey.

Financial Aid and Scholarships

• Federal Student Aid: The federal government offers a variety of financial aid options, including grants, loans, and work-study programs. Visit the Federal Student Aid website at studentaid.gov to apply.
• Scholarships: Iona offers a wide range of scholarships to incoming and continuing students based on academic merit, financial need, and other criteria. For more information, visit the Iona Scholarship website.

Tuition and Fees

• Tuition: Undergraduate tuition rates vary depending on factors such as residency status, major, and enrollment level. Visit the Iona Tuition and Fees website for the latest tuition rates.
• Fees: In addition to tuition, students must pay mandatory fees that cover services such as the student activity fee, technology fee, and health services fee.

Payment Options

• Online Payment: Students can pay their tuition and fees online via the Iona MyGAEL portal.
• By Mail: Payment can be mailed to the following address:
  • Iona University
  • Enrollment Services
  • 75 Mountaindale Road
  • New Rochelle, NY 10801
• In Person: Students can pay in person at the Office of Enrollment Services located in Marillac Hall.

Financial Planning

• Budgeting: Creating a budget will help you track your income and expenses, allowing you to make informed financial decisions.
• Saving: Start saving for college early to reduce the amount of student loans you need to borrow.
• Investing: Consider investing a portion of your savings to grow your money over time.

Student Loans

• Federal Student Loans: The federal government offers a variety of student loans with favorable interest rates and repayment terms.
• Private Student Loans: Private lenders also offer student loans, but the interest rates and repayment terms may vary significantly.
• Loan Consolidation: If you have multiple student loans, you may consider consolidating them into a single loan with a lower interest rate.

Common Mistakes to Avoid

• Borrowing More Than You Need: Only borrow the amount of money you need to cover your essential expenses.
• Not Budgeting Properly: Failing to create a realistic budget can lead to overspending and financial stress.
• Ignoring Due Dates: Paying your tuition and fees on time is crucial to avoid late fees and penalties.
• Not Seeking Financial Aid: Leaving free money on the table by not applying for financial aid is a mistake many students make.
• Not Planning for Repayment: Understand the terms of your student loans and start planning for repayment before you graduate.

Why Financial Planning Matters

• Reduced Stress: Having a solid financial plan can reduce financial worries and stress.
• Improved Credit: On-time loan payments can help build your credit history.
• Financial Stability: Good financial planning sets the foundation for a financially stable future.
• Achieving Goals: Saving for college and investing wisely can help you reach your financial goals sooner.
• Peace of Mind: Knowing that your college expenses are under control can provide peace of mind.

Benefits of Iona Student Financial Services

• Personalized Assistance: Iona’s financial aid counselors provide personalized assistance and guidance to help students understand their financial aid options.
• Online Access: Students can access their financial aid and account information through the MyGAEL portal.
• Flexible Payment Plans: Iona offers flexible payment plans to help students manage their finances.
• Financial Literacy Programs: Iona offers financial literacy programs to help students develop sound financial habits.
• Counseling and Support: Students experiencing financial difficulties can receive counseling and support from the Office of Student Financial Services.

Conclusion

Managing college expenses can be challenging, but Iona University is committed to providing students with the resources and support they need to succeed financially. By taking advantage of our financial services and practicing smart financial planning, you can minimize the financial burden of higher education and achieve your academic dreams.

• Iona University Financial Aid Office: https://www.iona.edu/admissions-aid/paying-for-iona/financial-aid
• Iona University Scholarship Office: https://www.iona.edu/admissions-aid/paying-for-iona/scholarships
• Federal Student Aid Website: https://studentaid.gov/