Grade 10 Naviance Activity

Objectives Discuss methods for FINANCING college Financial Aid/SCHOLARSHIPS Paying directly Discuss 5 main types of College costs Describe college costs Vs. Potential earnings COMPARE 3 DIFFERENT COLLEGE COSTS ON NAVIANCE COMPLETE A COLLEGE SEARCH ON NAVIANCE

Paying Colleges Directly Savings Many students save money by: Working during school year and summer Building a savings account Family Contribution: Family may pay an amount per year to help their child Families may also save money for their child’s college education

Financial Aid Grants Scholarships Work study Loans Money does not have to be repaid Scholarships Work study part-time jobs for undergraduate and graduate students with financial need , allowing them to earn money to help pay education expenses. Loans Money that has to be repaid

5 Main Types of College Costs Tuition and Fees Room and Board Housing and food Supplies/Books Average cost around $600 per semester (Varies by Major) Personal Expenses Insurance (can be on parents insurance until 26) Social experiences Transportation Less expensive if attending in-state college

College Costs vs. Lifetime Earnings Associate’s Degree Tuition and Fees: $8,000 (2 Years) Wage Increase from H.S. Degree: $550,000 Added Lifetime Income: $542,000 Bachelor’s Degree Tuition and Fees: $60,000 (4 years) Wage Increase: $900,000 (Lifetime) Added Lifetime Income: $840,000

Financial Aid Estimate Cost for 1st year: $21,924 Financial Aid: $13, 500 $8,424 (amount still owed)

COMPARE Costs and Financial Aid Info Click on: Colleges tab Select SUPermatch Choose Montgomery College Choose university of Maryland college park Choose duke university Select “I want to” and choose compare pinned schools Compare the schools’ financial section

Supermatch AND END OF THE YEAR SURVEY Return to supermatch Select CRITERIA IMPORTANT TO YOU IN A SCHOOL (LOCATION, M AJOR, COST, ETC.) Go to “About me” and select Journal Journal about colleges found based on financial information and interest