1 / 31

Financing for College

Financing for College. Warm-Up Questions CPS Questions 1 – 2. Note for teacher: Use “Pick a Student” button in CPS. Chapter Overview. Lesson 1: Financing for College Lesson 2: Selecting a College Lesson 3: Navigating the Testing Maze Lesson 4: Essays, Interviews, and Campus Visits.

zephania-gentry
Télécharger la présentation

Financing for College

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. Financing for College

  2. Warm-Up Questions CPS Questions 1 – 2 Note for teacher: Use “Pick a Student” button in CPS Chapter 4, Lesson 1

  3. Chapter Overview Lesson 1: Financing for College Lesson 2: Selecting a College Lesson 3: Navigating the Testing Maze Lesson 4: Essays, Interviews, and Campus Visits Chapter 4, Lesson 1

  4. Lesson Overview • Costs of College • Sources of College Funds • Planning to Finance a College Education Chapter 4, Lesson 1

  5. Quick Write How much do you think it costs to go to a college or university? Make a short list of ways you can get the money you need to attend a school of your choice. Try to cover all possible expenses, and reflecting on what you’ve learned about financial planning, separate your needs from your wants. Note for teacher: Use “Pick a Student” button in CPS Chapter 4, Lesson 1 Photo courtesy of Shutterstock

  6. Costs of College • Tuition • Fee for instruction • Room • Cost of a place to live • Board • Cost of Food Chapter 4, Lesson 1 Photo courtesy of Shutterstock

  7. Two-Year College • Least expensive option for college • Includes community, junior, and technical college • Attending a two-year college, then transferring can keep costs down Chapter 4, Lesson 1 Photo courtesy of Shutterstock

  8. Two-Year College Tuition • In-state resident • Legal resident of the state in which the college is located • Average yearly cost at a public community college = $2,963 • Out-of-state students • Students who are not legal residents of the state in which the college is located • Average yearly cost at a public community college = $5,175 Chapter 4, Lesson 1

  9. Four Year Colleges & Universities • More expensive than two-year colleges • Public University • Institution of higher learning that is operated by and receives money from the state in which it is located • Average yearly in-state resident cost at a public university = $8,244 • Average yearly out-of-state student cost at a public university = $20,770 Chapter 4, Lesson 1 Photo courtesy of Shutterstock

  10. Private University • Private University • Institution of higher learning that is operated by a private organization • Average yearly cost at a private university = $21,253 • Charge all students the same rate Chapter 4, Lesson 1 Photo courtesy of Shutterstock

  11. Learning Check Questions CPS Questions 3 – 4 Note for teacher: Use “Pick a Student” button in CPS Chapter 4, Lesson 1

  12. Activity 1: Anticipating Your College Expenses • On the worksheet provided, brainstorm a list of anticipated expenses that will need to be paid for you to complete your college education. • Be prepared to share your answers with the class. Chapter 4, Lesson 1

  13. Sources of College Funds • Average undergraduate received $12,000 in 2011 • Scholarships • Recipients are usually selected based on academic, athletic, or artistic merit • Grants • Recipients are usually selected based on their financial need Chapter 4, Lesson 1 Photo courtesy of Shutterstock

  14. To Find a Scholarship • Talk to your guidance counselor, campus career center, or go to the library • Search the Internet for scholarships • Contact the college’s financial aid office • Include your JROTC instructor if you are seeking a military awarded scholarship or academy appointment Chapter 4, Lesson 1 Photo courtesy of Shutterstock

  15. Applying for a Scholarship • Do you meet all the requirements • If not, is there a way you can • Scholarships are very competitive • You have a 1 in 8 chance of getting a scholarship • Don’t give up if rejected • Be careful of scholarship frauds Chapter 4, Lesson 1 Photo courtesy of Shutterstock

  16. Learning Check Questions CPS Questions 5 – 6 Note for teacher: Use “Pick a Student” button in CPS Chapter 4, Lesson 1

  17. Activity 2: Scholarship Research • Use the Internet to research possible scholarships in which you are eligible. • Be prepared to share your results with the class. Chapter 4, Lesson 1

  18. US Government Grants • Pell Grant • Need based grant for students who have a documented need • Must complete the Free Application for Federal Student Aid (FAFSA) • Maximum yearly Pell grant for 2012 = $5,700 • Federal Supplemental Educational Opportunity Grant (FSEOG) • Students with exceptional financial need • You can receive $100 - $4,000 a year Chapter 4, Lesson 1 Photo courtesy of Shutterstock

  19. US Government Loans – Stafford Loan • Most common US Government Loan • Subsidized • Government pays the interest while you’re in school • Unsubsidized • You pay all the interest • You can borrow up to $5,500 the first year with a maximum subsidized amount of $23,000 for four years • You can defer payments on an unsubsidized Stafford loan by capitalizing the interest • Adding the interest payments to the loan balance Chapter 4, Lesson 1

  20. Other US Government Loans • Perkins Loan • Awarded to students with exceptional financial need • Parent Loan for Undergraduate Students (PLUS) • All loans require you to complete the FASFA Chapter 4, Lesson 1 Photo courtesy of Fotolia

  21. Private Loans • Government loans are the best deals • Private loans can be used if you still need money • Private lenders sometimes charge fees for the loan • Low interest rates during the in-school grace period may raise the rate when you graduate Chapter 4, Lesson 1 Photo courtesy of Shutterstock

  22. Other Sources of Financial Aid • Federal Aid • State Aid • Federal Work-Study Program • Military Programs • College-Controlled Aid • Scholarship Lotteries Chapter 4, Lesson 1 Photo courtesy of Fotolia

  23. Learning Check Questions CPS Questions 7 – 8 Note for teacher: Use “Pick a Student” button in CPS Chapter 4, Lesson 1

  24. Activity 3: Reducing College Costs • Using the worksheet provided, identify methods to reduce college costs. • Be prepared to share your answers with the class. Chapter 4, Lesson 1

  25. Planning to Finance a College Education • How should you start planning? • High school guidance counselor or career center • Public Library • Web • Financial Aid Offices at your preferred colleges Chapter 4, Lesson 1 Graphic courtesy of Shutterstock

  26. FASFA • Complete the FASFA shortly after January 1 of your senior year • Opens the door to many sources of financial aid • Provide accurate information • Keep copies of all the application forms Chapter 4, Lesson 1 Graphic courtesy of Shutterstock

  27. Learning Check Questions CPS Questions 9 – 10 Note for teacher: Use “Pick a Student” button in CPS Chapter 4, Lesson 1

  28. Activity 4: Your College Financial Plan • Using what you have learned in this lesson, outline a plan for paying for your college education. • Be prepared to share your tips with the class. Chapter 4, Lesson 1

  29. Summary • Costs of College • Sources of College Funds • Planning to Finance a College Education Chapter 4, Lesson 1

  30. Review Questions CPS Questions 11 – 12 Note for teacher: Use “Pick a Student” button in CPS Chapter 4, Lesson 1

  31. Next… • Selecting a college Chapter 4, Lesson 1 Graphic courtesy of Shutterstock

More Related