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Costs of College Weighing You Down?

Costs of College Weighing You Down?. Being financially intelligent about college planning. Complete this sentence:. I want to go to college because ___________. The thing I fear most about college is ________. Which College Should I Choose?. In-State vs. Out of State Cost Distance

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Costs of College Weighing You Down?

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  1. Costs of College Weighing You Down? Being financially intelligent about college planning.

  2. Complete this sentence: • I want to go to college because___________. • The thing I fear most about college is ________.

  3. Which College Should I Choose? • In-State vs. Out of State • Cost • Distance • Boarding • Four year vs. Two Year • Costs • Transferring Credits

  4. How Much Do You Think College Tuition Costs? Write down how much you think it will cost to attend college for 1 year.

  5. Did you consider…. • Tuition • In State vs. Out of State • Room & Board • Text Books • Parking • Extra fees • Other course materials

  6. Tuition Costs • Undergraduate Tuition Rates* (per year) • Harvard - $36,992 • Princeton - $37,000 • Old Dominion - $6,312 • W&M - $8,270 • VA Tech - $8,852 • TCC - $2,676 *Other charges and fees apply (not including room and board)

  7. How am I going to afford college? • Scholarships • Grants • Financial Aid • FASFA (Free Application for Student Financial Aid) • http://www.fafsa.ed.gov/

  8. Scholarships • Where to find them • Colleges • Organizations • Memberships • Employers • When to apply • Writing essays

  9. Grants Pell Grant Do I qualify for a grant? Expected family contribution (EFC) The student's enrollment status (full v. part time) Whether the student attends for a full academic year or less.

  10. Government Loans • Subsidized vs. Unsubsidized • Subsidized -You won't be charged any interest before you begin repaying the loan. • Unsubsidized- charge interest from the time the money is first disbursed until it is paid in full. The interest is capitalized, meaning that you pay interest on any interest that has already accrued. One way to minimize how much interest accrues is to pay the interest as it accumulates. • Interest Rates • Typically low on undergraduate loans. 3.4% as of 07/2011 • Deferment vs. Forbearance • http://studentaid.ed.gov/students/attachments/siteresources/Funding_Education_Beyond_HS_2011-12.pdf

  11. Military • GI Bill • http://www.gibill.va.gov/benefits/index.html • Vocational Training • Benefits vs. Risks

  12. Ways to Cut Costs • Scholarships • Work Study Programs • Avoid Changing Majors • Save on books • Purchase used book • Half.com or Amazon.com • Renting books instead of buying

  13. Choosing A Major • Prospective Careers • Occupational Outlook • Career Counseling • Switching Costs • General Education Requirements • Transferring credits from other institutions • My “Feeling Stuck” Story

  14. What if I Just Don’t Know…? • Being undecided in your major • Career Counseling • High School Counselor • College Counselor • It is O.K. if you are unsure

  15. Activity On one side write your name and address On the other side, write down 3 questions/topics you would like to discuss with your parents regarding your post high school plans.

  16. Final Questions?

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