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You’re going to College…

You’re going to College…. Now What?. Make a Plan!. Talk to your Parents!. Be up front about asking which college expenses they will cover and which they expect you to pay Consider monthly payments and your costs Do a budgeting worksheet. Choosing a Bank. ATM Fees

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You’re going to College…

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  1. You’re going to College… Now What?

  2. Make a Plan!

  3. Talk to your Parents! • Be up front about asking which college expenses they will cover and which they expect you to pay • Consider monthly payments and your costs • Do a budgeting worksheet

  4. Choosing a Bank • ATM Fees Sometimes even local banks will charge you for using an ATM • Minimum Balance Watch for a fee if your account drops below a minimum balance • Number of Checks Some banks only allow you to write 5-10 checks per month • Monthly Fees Try to find a bank that does not charge for having an account

  5. TRUE or FALSE?Buying a latte 5 days a week over the next 2 years will cost you less than a new MacBook Air.

  6. False- It will cost more!!!

  7. Costs to Consider…

  8. TUITION: Financial Aid • Grants/Scholarships This is FREE money. You don’t ever have to repay it. • Loans Need to be repaid. • Work Study You work for the school to help pay tuition. • FAFSA www.fafsa.ed.gov Cost of School -Your Contribution Your Need Most of the time, Financial Aid is based on NEED

  9. TEXTBOOKS… Here are a few money savers: • Share with a friend or classmate • Shop early and buy used • Ask upperclassman • Check the library • Shop on-line are EXPENSIVE! The average college student spends about $1,000/year on textbooks.

  10. Monthly Expenses Laundry Books Personal Items Telephone Entertainment Food School Supplies Transportation Clothing Total Monthly Income Work-Study Job Monthly Withdrawal from Savings Loan Income Parents Total Budgeting Worksheet Now add up both columns, If your expenses win the “who’s bigger?” game, get a second job!

  11. Having a Plan Starts with a Budget Count What You Have • Wage • Interest Earned Track What You Spend • Clothes • Food • Entertainment • Rent or Mortgage • Utilities, electric, gas, water, sewage, cable, phone, garbage • Transportation, gas, car payment, insurance, • Taxes

  12. Cosby Show Season 1. “Regular People”

  13. If you have any questions, please contact the PICPA at schools@picpa.org! Thank You, Good Luck, and Congratulations!

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