My Identity's Been Stolen, Now What?

Identity theft is a growing problem, and although we all want to believe it will never happen to us, here at Savvy Student we want our readers to be prepared and to know their rights, just in case.

First and foremost, you must file a police report. Once this is done,
credit bureaus are required to block all negative information on your credit report stemming from the theft.

Furthermore, credit bureaus are required to provide consumers with a copy of their rights upon reporting a potential identity theft situation.

The next important step is to put a fraud alert on your account. One such place to do this is Transunion, www.transunion.com. When you put a fraud alert on your accounts, you are also entitled to a free credit report, separate from the one already offered each year at annualcreditreport.com.

Lastly, if you find something on your credit report that does not seem correct, you do have the right to dispute it. This can often be challenging with the credit bureaus, but if you believe that something is wrong, do not be afraid to stand up for yourself and be persistent!

For more information, read this Time article.

You may also view a YouTube video online about reporting identity theft here courtesy of Transunion.

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Effective Habits of Billionaires

A Hanover, MA man has been all over the news today. Why you might ask? Well a $2 "Lucky for Life" lotto ticket paid off- big time. This 39-year-old is set to collect $1000 a day for the rest of his life. Yes, you read that correctly!

Now take a deep breath because yes, someday you will be able to pay off those pesky student loans- maybe not today, but if you plan accordingly you can be "rolling in the deep" so to speak.

Sadly, we can not all be as fortuitous as this young man, but we can begin to mimic habits of wealthy individuals and watch our nest egg grow. According to SavvySugar, living below your means is a good way to start, as per the example set by Mark Zuckerberg. This FB creator purchased a home costing him $7 million which is actually 0.04% of what he is worth. Granted the numbers are a bit skewed, but it is a good principal to go on. If you are a college student, when you graduate you should still plan to live like a college student, at least for a little while. This will give you the opportunity to build a significant amount of savings.

The purchase of a home is a long term commitment which relates to Warren Buffet as he is known for thinking in the long term when it comes to investing. Although retirement may be at the back of your mind clouded by immediate thoughts of midterms and papers, you should start preparing/saving now.

As for the late Steve Jobs, his rise to fame and fortune involved practice, practice and more practice. As the saying goes, "practice makes perfect", so to be good at something you must put the time and energy in.

To read more on the practices of billionaires such as Oprah, Ralph Lauren or Bill Gates check out the blog post, SavvySugar.

Here's to champagne wishes and caviar dreams,

Savvy Student

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The 2012 Financial Aid Undergrad Application Process

For those of you who find taxes and the financial aid application process daunting (don't be ashamed, many do!), read on to clear the fog and solve the financial aid puzzle!

To begin- the deadline for returning students to apply for financial aid is FRIDAY APRIL 27, 2012! Please do not wait to submit everything last minute - you will be late and your financial aid could be impacted. If you are an international student your financial aid is automatically renewed, so you may keep reading for interest only!

A student's eligibility for financial aid is based upon four main criteria which include Parent and Student Income, Parent and Student Assets/Savings/Investments, Number of People in the Household, and Number of Siblings Attending College. Number of people in the household include the head of the household and legal dependents - basically, parents and the number of children still legally dependent under them. Number of Siblings Attending College may not necessarily include all siblings of the student, but pertains to those in the household in an undergraduate program.

The process of applying for aid is simple in that there are 3 basic steps that are repeated every year. Returning students are asked to submit the following:


1. FAFSA available online at FAFSA.ed.gov, school code 00213. Be sure to complete the FAFSA at least two weeks AFTER electronically submitting tax returns. You will then be able to use the IRS Data Retrieval Tool (new this year).


2. CSS Profile, also available online at Profile.collegeboard.com, school code 002133.


3. All current year Federal tax returns should be sent to IDOC along with an IDOC Cover Sheet specific to the student. IDOC is a data imaging services provided by the CollegeBoard. All tax returns should be physically signed, include all Schedules, W-2's and business Partnerships or S-Corporations if applicable.


Again, the renewal aid deadline is Friday APRIL 27th. Our office must receive your completed application by this date, so please allow time for completing, compiling, and submitting your forms to IDOC via "snail" mail.

Most importantly, be sure to CHECK YOUR MAIL - at school, at home, and online. Our office sends Missing Information Letters and emails to remind you of deadlines and documents needed in order to complete your financial aid application. Please be sure to read these carefully and in a timely fashion. As always, feel free to contact our office with any questions at sfs@brandeis.edu.

Yours truly,

Savvy Student

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Lowering Your Gas Costs

For those with cars, the money we spend on gas can be astonishing! With gas prices on the rise, this issue has taken center stage. On average, gas prices have now climbed to $3.74 a gallon, which can make filling up the tank more than a little painful. As reported by Time Magazine families now-a-days spend more on gas than on their taxes or health insurance! We've come up with a few tips and techniques that will help you save major $$ at the pump.

-Utilize public transportation as much as possible. Waltham has several options for public transit including two commuter rail stops (Brandeis/Roberts and Waltham) and several bus routes. In addition, you should utilize Brandeis's free shuttle services to get around Waltham and into Boston/Cambridge.

-If you are purchasing a new/used car, think about purchasing a high MPG car that is more fuel efficient! It'll save you money in the long run.

-With the rise of gas prices, often comes the rise of food prices. To combat this, try buying in bulk. If you share a house or apartment with others, buy for the whole house. Also, look for cheaper alternatives. Trying buying the store brand or generic option over the more expensive name brand.

-As the weather is warming up, go outside and get some exercise! Instead of hoping in your car to drive down the street, try walking instead. You'll get a little exercise and you'll save on gas!

-There are also ways to change the way you drive that will help you cut down on gas. Check out this article for ways to break the right way, change gears, and do car maintenance that will help you save cash.


We hope you take these tips into consideration next time you hop into the car!

Safe (and cheap) Driving!
Savvy Student

Additional Sources:
http://www.moneycrashers.com/gas-prices-rising-prepare/

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