1 / 16

NY GEAR UP

NY GEAR UP. Saving for College CUNY Collaborative Programs: A NYGEAR UP Partner. Agenda. What is the cost of college and is it worth it? Ways for students and families to pay Sticker Shock and the True Cost of College Tools to help you determine how much you will pay

joes
Télécharger la présentation

NY GEAR UP

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. NY GEAR UP Saving for College CUNY Collaborative Programs: A NYGEAR UP Partner

  2. Agenda • What is the cost of college and is it worth it? • Ways for students and families to pay • Sticker Shock and the True Cost of College • Tools to help you determine how much you will pay • Ways to start saving now • Questions

  3. Financial Aid Quiz 1. College is not worth the debt involved. It’s better to go directly to work. 2. Only “A” students can go to college and get financial aid. 3. Applying for financial aid is very difficult and complicated. 4. College can be expensive, but two-thirds of all undergraduate students receive financial aid to help cover college costs. 5. To make it in today’s world, you must have a four-year degree. 6. Over the course of a lifetime, a high school graduate can earn as much as a college graduate. 7. The average annual income of a person with a college degree is over $55,000. 8. Colleges give full athletic scholarships to athletes. 9. Private colleges are too expensive and you shouldn’t apply if you don’t have the money. 10. Some employers will help you pay for college.

  4. Is College Worth the Cost? • College grads fare better in workforce • BA degrees earn $1 million more over a lifetime than HS diploma (84% more over a lifetime) • Build skills needed for workplace • Independence, new experiences, success and failure • College degrees have lower unemployment rate (2013 – 4% for BA; 5.4% for AA) http://www.merrilledge.com/Publish/Content/application/pdf/GWMOL/ME_SavingForCollege.pdf

  5. What is Cost of Attending College? • Direct costs • Tuition, Fees, Room Board • Indirect costs • Books and Supplies • Personal Expenses • Laundry, cell phone • Transportation

  6. Money for College:Ways for Students and Families to Pay • Scholarships (do not have to be paid back) • Grants (do not have to be paid back) • Loans (must be paid back) • Work study (must be earned) • Savings (must be earned)

  7. The True Cost of College

  8. Don’t be Afraid of Sticker Shock

  9. NY State College Costs

  10. How to Start Saving Now • Set a Savings Goal: fixed amount per paycheck • Look at different types of savings and investment accounts/options • Open a College Savings Fund • Begin a scholarship search • Register your child for dual-enrollment courses

  11. Loans: Rules of Thumb for Borrowing • Borrow only what you must and as little as possible • Exhaust all federal loan options before private loans • Know repayment options before signing papers

  12. Resources • NY Higher Education services Corporation: Hesc.ny.gov • USDOE: ed.gov/fund • College Board: collegeboard.org • NACAC: nacacnet.org • FastWeb Scholarship Search: fastweb.com • Federal Student Aid: studentaid.ed.gov • College Navigator: nces.ed.gov

  13. QUESTIONS? • Please complete workshop evaluation

More Related