Thread: Finance

You will make payments to UAG for things such as tuition, paying for "extraordinarios" (your 3rd chance to take a final exam), and a $300 "seat holding fee" (even if you already paid for the next semester, they have a strange rule of making you pay an extra deposit to hold your seat in the class - it is usually deducted from your tuition but you still have to get the receipt and take it to the office).

All this is not too bad. However, UAG does not make complete use of networking computers. If you pay something at one geographical part of UAG, another section still does not know that you paid it unless you take them a physical copy of your receipt. This still would not be too bad if it was better communicated to the students. Therefore, for any payments made, it's your responsibility to keep track of your receipts and ensure whatever departments needs one has one (!). Note the difference from Canada/US where it's up to the organization to stay informed. Do not be aggrevated by this! It's just a different system which can get you upset if you don't realize it.

Take your receipt copy to this office at ICB which is near the west entrance - this is the Oxxo and papeleria entrance near the ATM (there is only one ATM at ICB).

Remember: take them a copy of EVERY RECEIPT!



The receipt you are taking them will look like this (names changed to protect the guilty):

This thread is to give information about finances and loans relating to UAG

Tuition costs were $11 000 per semester in 2009, and two semesters per year equal $22 000 per year; these were completely due approximately on the first day of classes (your $300 seat fee is due typically a month into the previous semester, and YOU must subtract it. Strangely, no one really keeps good track of your payments and/or tells you - unless you ask or they're not enough.). There is also an additional NASA fee of $125/term(2009) to a total of $250 per year.

Kaplan fees, which are required in fourth semester, were $2 100 in 2009 ON TOP of the normal tuition, and due a month before the courses start, which is typically two months into the semester. Full tuition is still paid, but for only one course (pharm) that the university truly administers. Due to student's complaints, two more classes were added to "fill the time" - Haematology and Oncology, and Radiology; one very useful, one completely awful. As of 2009/02 radiology was cancelled.

A $300 seat fee is needed every semester after first, about two months before that semester starts. This fee is to reserve your spot and determines your class list number (different than student number).

Tuition is due the first week of classes. Any amount not payed after that first week will incur penalties of interest, and you will not be able to sign up for the next semester until all that money is paid off.

The main cashier on campus charges a 2-3% comission on Visa and Mastercard, and 5% on american Express.

student manual: finance: ATM locations: exchange rates: cost of living management, financial safety. For prospective students.

As of 1/1/2010 Bank of America waives their ATM fee for Scotiabank bank and Santander bank.

1.) Santander...El valor de las ideas.
2.) Scotiabank - You're Richer Than You Think

Please see this attached google earth KMZ file for ATM locations of these two banks (google earth required, must unzip the file by dragging it to your desktop). I show only three ATMs that I have personally used. However there are many more Santander and Scotiabank ATMs close to Providencia/ICB where you will live.

note that 1) Scotiabank ATM on Terranova has a $3000 limit per transaction but the other ATMs posted can withdraw $7000+ pesos. You can do consecutive withdraws and its no problem, dictated by your daily maximal withdraw limit set using online banking.

And when I say $7000/$3000 pesos I mean $700/$300 USD dollars. you just take a decimal off to convert pesos to dollars.

2) ACGT said that you should choose a 4 digit PIN# in case the ATM only supports 4 digit PINs. You can set your pin on the BoA online banking page and checking accounts are free to open online.

I suggest having two BoA checking accounts; a big one and little one, where you can transfer money as needed to the little one. Only carry the ATM card for the little one. That way if you ever get robbed they can only get $100 if they drag you to an ATM at gunpoint to empty it. -- sorry guys you need to roll like that outside the USA, even though guad is very safe from what I've experienced.


Use the site x-rates.com to withdraw when the exchange rate is favorable.

Exchange Rates Graph (American Dollar, Mexican Peso)
Take money out for the next few months only when its good. You can see in this pic that the rate just recovered from a dip, and your dollar would have bought less pesos if you took out money last week than if you did now. to determine the rate look at how much your checking account lost for each ATM withdraw. The ATMs will give you the best rates as said by other posters here. The exchange rate was very favorable at 13.4 when I was in guad and was as low as 9.9 for some of our alumni here back in 2005.

Dear Student: The following information is being provided to you in regards to the new financial aid process. Due to the changes within the federal student loan program which took place on July 1, 2010, there have been a number of students that have questions on how to apply for the new William D. Ford Federal Direct Loan Program. We understand that the financial aid process can be confusing, so in hopes of easing your concerns on applying for these loans, we are providing you with 4 easy steps that will make the process easier to handle. Remember to Plan ahead – complete all of your financial aid requirements in order to meet the deadline.

Apply before deadline for Federal Direct Loans will be April 15, 2011

FEDERAL DIRECT LOANS

Step I: You must complete your FAFSA online with the Department of Education. APPLY HERE In order for us to receive your electronic copy of your Student Aid Report (SAR), you will need to use the following School Federal Code"G08147".

Steps II and III must be completed through the Department of Education website studentloans.gov

Step II: You must fill out the Direct Loan Master Promissory Note (MPN) for Direct Staffordloans. This is the actual application for the Direct Subsidized and Direct Unsubsidized loans.
Step III:If you are borrowing a Direct Graduate Plus you must click on “Request a PLUS Loan”. You will first be asked to complete the credit portion of the loans (which will be in 4 steps). The screen that follows (Step 4) will be a notice informing you that your credit has been approved, denied, or pending. Toward the bottom of this page you will need to click on your name so you may complete the MPN for this loan.
Once you have completed your applications online, please contact the Financial Aid Department in San Antonio, so we may follow up on your loan request. Print a hard copy of the MPN for your personal records.
Step IV: Regardless of where you make the payment, you must emaila copy of your pre-registration receipt of $300 to your financial aid counselor (photocopies-hard copies will not be accepted).
If you are still uncertain on how to apply for financial aid, you may email your financial aid counselor with your specific questions and they will be able to help you.
Federal loans will be disbursed in two equal disbursements. Once your loans have been originated, you will be sent a notification via email of your loan origination with the amounts and dates of the disbursements.
* As a reminder students on Academic Probation will need to notify us of their academic status no later than June 17, 2011 in order to have their loans released in a timely manner.
Your Cost of Attendance (COA) or budget will depend on your "Carga Academica" for the semester. If you are NOT taking a full academic load for the semester you must notify us and we will process your loans accordingly.
PRIVATE LOANS
If you are not eligible for Federal Loans you can apply for a Private loan APPLY HERE
Some lenders have the capability of online pre-qualifications and/or completing the application process. They may require identification documentation. We highly recommend to contact them for status on your loans. If you are applying online, please contact the Financial Aid Department in San Antonio, so we may follow up on your loan request. Print a hard copy of the application for your personal records.
Please submit all required documents in a timely manner to avoid delays in the processing of your loans and/or late fees for not paying your tuition and fees on time. Loans will not be processed until all requirements have been met.
If you have any questions, please do not hesitate to contact us.

Thank you,
Financial Aid Office
Universidad Autónoma de Guadalajara
110 Gallery Circle - San Antonio, TX 78258
Tel: 210-366-1611 Fax: 210-377-2975
Toll free: 1-877-858-7700
Monday-Friday 8:30 a.m. - 5:30 p.m.
fin_aid@uag.edu

http://www.fincen.gov/forms/files/fin105_cmir.pdf