Planning for Your Future

1. Planning for Your Future

2. College • Any postsecondary educational institution • 2 year or community college • Trade school • 4 year college or university

3. College and Money • College is an investment.

4. College and Money • Investment – putting money into something in order to gain more money

5. College and Money

6. Investment in YOU • College graduates tend to be healthier. • College provides opportunities you might not have otherwise: • Social Life • Study Abroad • Expanded Interests • Other ways college is an investment in YOU

7. College and Money • The problem…..

8. College and Money • Northeast State Community College Cost of Attendance

9. College and Money • ETSU Cost of Attendance

10. College and Money • UTK Cost of Attendance

11. College and Money • Carson Newman Cost of Attendance

12. How are you going to pay? • Out of pocket? • Grants? • Scholarships? • Loans?

13. Financial Aid • FAFSA – Free Application for Federal Student Aid • Complete Jan. 1 or after of your senior year • Can use last year’s tax information and update later • Complete every year that you are in college

14. Tennessee Promise • Tennessee Promise is both a last dollar scholarship and a mentoring program which begins with the graduating class of 2015.

15. Tennessee Promise

16. Tennessee Promise • Qualifying Institution • Community Colleges • Tennessee Colleges of Applied Technology • Four-Year Institutions offering Associates Degrees

17. Tennessee Promise • Apply to Tennessee Promise Program at www.tnpromise.gov by November 1. • Complete 2015-16 FAFSA by February 15. • Attend first mandatory meeting coordinated by partnering organization by March 1. • Attend second mandatory meeting coordinated by partnering organization by May 31. • Apply for admission to a qualifying institution. • Complete 8 hours of community service by August 1.

18. Financial Aid • Financial aid is money that the government and other organizations give you or lend you to help you pay for college. • Types: • Grants • Scholarships • Loans • Work Study

19. Financial Aid • Grants – gift aid, does not have to be paid back, most grants are needs-based which means they are usually given based on your or your families financial circumstances. • Scholarships – also gift aid, awarded for academic or athletic ability; interest in a certain subject; or volunteer work for example. • Loans – money you borrow, must be paid back with interest. • Work Study Programs – the Federal Work-Study Program offers paid part-time job to help students pay for part of their college.

20. Financial Aid • Financial Aid Sources: • Government • Federal • State • Private • Institutional • Private

21. LOANS – Yes or No? • Julina’s Story Hi, I’m Julina, and I was not smart when I was going to college because I didn’t work hard to find scholarships. I also chose not to take advantage of the HOPE scholarship by going to school in Tennessee. Therefore, I took out loans.

22. Julina’s Story • Undergraduate @Emory & Henry College – 4 years • I had free tuition (about 30K a year) • I worked in the summers (made approx $3K per summer) • I had to pay for room and board = $8-10K per year and an apartment senior year • Graduate @ETSU – 2.5 years (plus 2 summers) • Once again: Free tuition because I had a full graduate assistantship • Living off campus, on food stamps, and making about $650 monthly • Summer courses not covered by assistantship

23. Julina’s Story Emory and Henry ETSU

24. Julina’s Story • And now... Per Month Minimum $451

25. Loans: Yes or No • MAYBE… • How much do you need? • Are there other sources of money? • What type of loan is it? • What is the starting salary for your chosen profession? • How much education are you going to need for your chosen profession?

26. Useful Tips • Educate yourself – read all you can about financial aid; ask lots of questions • Make a written plan; prioritize your efforts; share your plan with your parents and your school counselor • Pay attention to your school counselor • Establish a positive relationship with the financial aid staff • Complete the FAFSA before February 15 each year

27. Useful Tips • Inform financial aid administrators about special circumstances • Don’t throw anything away; keep a file and a phone journal • Study; study; and study • Borrow what you need; not what you want • Ask for help!!

28. What can I be doing now to invest? • Pay attention to your grades! • Be a joiner! • Explore colleges/careers! • Save a little money for senior year! • Talk to your parents about college!

29. If College Is an Investment… • Take yourself seriously as a student • Think about what’s next while in school

30. What classes are worth EXAMPLE: You go to ETSU and pay in-state prices: $263 per credit hour A four (4) credit lab course = $1052 The class meets 48 times (including labs) this semester = $21.92 per class Each class you take is a 4 month deal between you and your professor.

31. College Professors • Goal of a college professor is to show students what material is worth knowing • Communicate a level of respect • No txt language in email • Use a subject line – you are not their only student! • Properly address the professor • Office hours

32. Academic Plan • For your academic plan you need: • Degree requirements form in your department • Course catalog • Paper/pencil • Plan ahead – it’s your responsibility • Full time – 12 hours per semester; to graduate in 4 years – 15 hours per semester

33. Academic Plan • Four types of college classes: • General Education • Major • Minor* • Electives

34. Time Management • Good study skills and time management:

35. College is NOT the real world • Registrar to help you organize your day/week • Dining services • Housing services • Academic and career advisors • Financial Aid office • Everything you might need all within walking distance