Costs of College High School Financial Literacy #1
Objectives • You Can Go to College Video • 5 Main Types of College Costs • Ways Families Pay for College • Learn Costs at Different Colleges • Update Postsecondary Plan
You Can Go to College Video • Write down reasons why students thought they could not go to college • Why do these students think you can go to college?
5 Main Types of Postsecondary Costs • Tuition and Fees • Room and Board • Must pay for housing & food even if not in college • Supplies • Average cost around $500 a year (varies by major) • Personal Expenses • About the same cost as youth not in college • Insurance (many students can be on parent’s policy) • Transportation • Less expensive if attending in-state college
How Do Families Pay For College? • Financial Aid • Grants • National and state money to help pay for college costs • Scholarships • Money students are awarded for skills and accomplishments • Work Study • Students work at school to lower tuition costs • Loans • Paying Colleges Directly • Savings • Family and Student Contribution
Paying for College Video • Watch the Paying for College video • Pay special attention to the different types of financial aid available to the students • (Note: This is a Arizona State University video but the types of financial aid are available at all colleges)
Explore CGI Website • Identify Colleges of Interest • Learn how much it costs to go to that college • Update Postsecondary Plan
Classroom Discussion • What are your postsecondary institutions of interest? • What is the cost of that college?
Review • Name some main types of college costs • Tuition and Fees, Room and Board, Supplies, Personal Expenses, Transportation • Name some ways families pay for college • Grants, Scholarships, Work Study, Loans, Parent and Student Contribution • What types of postsecondary institutions usually cost less? • Community and Technical Colleges (2-year colleges)