Net Bank

Offers Incoming College Freshmen and their Families 
Useful Tips for Managing Personal Finances

According to the College Board, more than 1.3 million students entered college in 2002 and that number is expected to increase come this September. NetBank(R) (Nasdaq: NTBK)(www.netbank.com), the country's first commercially successful Internet bank, has put together a number of money management tips designed to assist this year's college freshmen as they begin to manage their finances away from home - many for the first time. In addition, they have included guidelines for parents to help their children with the transition to financial independence.

"As this year's freshmen class heads off to school, many may feel overwhelmed by the financial decisions that they will need to make," said Eve McDowell, chief sales & customer fulfillment executive for NetBank. "Additionally, parents may be unsure of the best way to advise their children about managing their finances. By following a few simple steps, these college students can learn to manage their money efficiently in order to reach their financial goals."

These simple steps have been designed to help college freshmen get their financial matters in order. To begin, NetBank recommends that these young adults:

    --  Make a list of both short- and long-term goals - Do you want
        to live off campus? Do you want to study abroad? Do you want
        to secure a job while attending school? Will you have college
        loans to pay off when you graduate? Take some time to figure
        out both your financial goals as well as your personal goals.
        Set up easy-to-reach short-term goals such as finding a job or
        joining a school club and slowly work towards long-term plans
        such as going away on Spring Break or studying overseas. Check
        back to these goals often to make sure you are on track. You
        will find satisfaction with each milestone you achieve.

    --  Create a monthly roadmap - Parents should take some time to
        sit down with their children prior to going off to college to
        discuss financial matters such as a monthly stipend, what
        finances they expect their children to cover, and guidelines
        for credit card use if applicable. During this discussion, the
        family should work together to create a monthly budget that
        incorporates monthly bills such as rent, utilities, Internet,
        local and long distance phone service and incidentals such as
        laundry, etc. This budget should also include expenses for
        books, school supplies, activity fees and entertainment such
        as food, going out with friends, and travel. Don't forget to
        include a small amount to be saved each month. Refer to this
        budget roadmap often to ensure that you are steering yourself
        in the right direction.

    --  Open a bank account that best fits your need - Today, students
        and their families have numerous options when it comes to
        opening a bank account and the selection can be overwhelming.
        Parents should have joint access to the account in order to
        help their son or daughter manage their money more
        efficiently. Online banking institutions, like NetBank, give
        parents and their children unlimited access to an account 24
        hours a day, 7 days a week. Other considerations should
        include loan products, savings options as well as additional
        features such as online bill payment.

    --  Pay your bills on time - Once freshmen begin school, they may
        find it difficult to balance school work, new friends and
        tedious activities such as paying bills. By getting in the
        habit of paying bills early or on time each month, students
        can avoid late fees and extra hours trying to get bills in
        order. Today, it's even easier to pay bills with services such
        as electronic bill payment. Many online banking sites,
        including NetBank's, offer free electronic bill payment. At
        the click of a mouse, you can set up one account to pay all
        your bills each month, eliminating check writing and stamp
        purchasing, and providing the added assurance that all your
        bills will be paid on time. You can even set up the account to
        pay bills automatically.

    --  Save, Save, Save! - It's never too late to start saving
        especially when paying off those college loans may be right
        around the corner. Whether you are looking at savings or Money
        Market accounts with high interest rates or other investment
        vehicles such as mutual funds or stocks, it is important to
        make an effort to put a little bit of money away each month.
        Parents are also not done saving once a child is off to
        school. As tuition costs rise each year, parents should
        consider additional savings vehicles to cover that cost and
        the cost of other children who may attend college in the near
        future.

ATLANTA, Aug 12, 2003 (BUSINESS WIRE)