Financial literacy is the ability to understand how money works. New York City College of Technology is dedicated to help students enhance their financial skills and make informed decisions about paying for college, saving and planning for the future. Check out the resources below to learn how to take control of your money!

Jobs, Earning and Paychecks

Federal Work Study: Part-time employment on or off campus for eligible Financial Aid students

Money Management Tips: Money management tips every college student must know

Budgeting and Saving

Budgeting and Money Management for Students: Explore tips on how to better manage your money and create a budget that fits your lifestyle

Student Discounts: List of stores and resources offering discounts for students

Understanding Taxes

Tax Assistance: Tax services and assistance for college students

Your Education and Taxes: Do I qualify for education tax benefits?

Identity Theft

Federal Student Aid and Identity Theft: Before you apply for federal student aid, learn more about identity theft

15 Ways to Protect yourself from Identity Theft: Ways to protect yourself from identity

Counseling

Counseling Services: There is no escaping the influence money has on your education, career, relationships, health, and more aspects of life. As you embark on your college journey, it is important to understand how money really "works".

Default Prevention and Debt Management

Managing Your Student Loan Debt

Educational loans are a financial resource for students that are trying to bridge the gap between expenses and other forms of aid, but you should cautiously consider the amount of student loan debt that you incur. Student loan debt has serious long term financial obligations and it is a debt that must be repaid. You will be charged interest in addition to the amount that you borrow. If you fail to make your monthly payments on time, it could affect you credit rating and your ability to borrow money for other purposes, such as purchasing a car or a home.

Before you take out your first student loan, City Tech strongly recommends you review the information presented in this section. The section explains how to effectively manage your student loan debt. A brief description of each section is as follows:

Determining Your Borrowing Needs

The links below will allow you to estimate the cost of attending City Tech.

Cost of Attendance

The cost of attendance details both direct (tuition and fees) as well as indirect ( housing, meals, books, transportation) costs. Direct costs are directly billed to you and indirect costs are out of pocket costs you may want to factor into attending school.

Loan Fundamentals

The links below will provide you with an overview of the different types of student loans. The terms of the loans and the interest rates are important factors to consider when borrowing is presented:

Types of Loans

Federal Direct Loans

Federal PLUS Loans

Federal Loan fees and interest rates

Federal Loans VS Private Loans

How Much Can I Afford To Borrow?

Estimate how much you can borrow by factoring in how much you need to cover tuition, books and if needed living. Develop a financial plan for the total cost of obtaining your college degree. If you can't afford your anticipated payments, then think about borrowing a smaller amount. Look for other sources of aid, such as scholarships and grants, to help meet expenses. You should reevaluate your future income and expenses each time you consider obtaining a student loan.

Repayment Strategies and Tips

Federal Direct Consolidation Loans

Understanding Student Loan Delinquency and Default

Repayment Plans

Additional Resources on Student Loan Debt Management and Debt Management

National Student Loan Data System

Federal Student Aid Videos

For more videos on the below topic please visit Student Aid Resources

• Financial Aid Process Video
• Types of Federal Student Aid
• Responsible Borrowing
• Budgeting Video