From: Center for Advancement of Financial Education, Office of Financial Aid, Office of Student Accounts, Office of the Registrar
Financial Readiness & Success
Dear Students,
We write to share important changes and benefits for Fall 2023 as the university launches its Financial Readiness & Success initiative to provide even more transparency and earlier information to assist in your financial planning for your OSU education. This new program will:
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Support students anywhere within OSU to successfully complete a degree or credential at Oregon State while connecting you to resources to help manage costs.
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Provide clear, transparent information to students about the costs of college, payment deadlines and strategies to approach budgeting.
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Offer expanded support and educational resources surrounding financial literacy and well-being.
What’s Changing
Expanded Payment Plans
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Students will receive information earlier about the cost of each term. This information will seek to reduce confusion, add transparency about how much students will owe and support more effective budget strategies and planning for students.
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Expanded approaches to payment plans to grant students more time to pay their bills and receive assistance to get to a $0 balance owed to the university before the next term begins.
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New payment plans will become available in August 2023 for fall term.
New Account Threshold
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The new account balance threshold allowed for students to register will decrease from $2,200 to $500 and be limited to current term charges. NOTE: If you are on an OSU payment plan and current on your payments, you won't be subject to a financial registration hold.
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OSU has staff to talk to those who might need assistance navigating this change. Additionally, resource guidance is available. Details are found below.
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This change will go into effect in November for Winter 2024 registration.
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The goal of this threshold and support program is to seek to prevent students from building up too much debt.
Support
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In June 2023, the Center for Advancement of Financial Education (CAFE) is expanding staff and services. Students can meet one-on-one to discuss the costs of attending college, budgeting, and accessing resources on campus and beyond.
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The Office of Student Accounts will have additional support staff to help students navigate their payment options when they call, email, or come to the office with questions.
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Beginning in Fall 2023, students will have access to an online financial literacy education program. Support for new students will be integrated into pre-arrival new student communications, orientation programs and START.
What you can do
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Whether you are enrolled on campus in Corvallis or Bend, or taking courses online through Ecampus, book an appointment with CAFE to discuss your educational costs and available resources.
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Connect with the Office of Financial Aid to learn about your aid options.
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Check out the Basic Needs Center on the Corvallis campus or contact the OSU-Cascades student wellness coordinator, and talk with student Peer Navigators about strategies for living on a budget. You can also learn about campus and community resources that many students use to thrive at OSU.
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Keep track of important registration and payment dates.
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Work on a plan, using resources listed above, to prepare for a new account threshold in November and expanded payment plans available beginning in August.
Visit our new Financial Readiness & Success page to access:
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An overview of the initiative
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Links for campus resources and support offices
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Frequently Asked Questions
We recognize that paying for college can be a big responsibility to undertake. OSU has resources and friendly staff ready to help. Taking advantage of these resources can support your financial wellness, decrease the amount of debt you graduate with, and set you up for less stress in the months ahead.
Sincerely,
Center for Advancement of Financial Education, Office of Financial Aid, Office of Student Accounts, Office of the Registrar