The Financially Savvy College Student Summer Orientation, Advising, & Registration (SOAR) Piedmont Virginia Community College Dr. Todd Parks www.pvcc.edu/personal-finance

Cost of attendance In-state resident Tuition $4,650 (15 credit hours x 2) Books and supplies $1,800 Other fees $140 (15 credit hours x 2) $6,590 Estimated living expenses $6,920 Other expenses $4,500 $18,010 Out-of-state resident Tuition $9,948 (15 credit hours x 2) Books and supplies $1,800 Other fees $770 (15 credit hours x 2) $12,518 Estimated living expenses $6,920 Other expenses $4,500 $23,938 Click https://www.pvcc.edu/pay-for-pvcc/tuition-fees for current tuition and fee rates Click http://www.collegesimply.com/colleges/virginia/piedmont-virginia-community-college/price/ for estimated cost of attendance

Payment deadlines Click https://www.pvcc.edu/pay-for-pvcc/payment-deadlines to payment deadlines

Do you have a plan to pay college expenses? Financial Aid Office helps students submit the Free Application for Federal Student Aid (FAFSA). Students may pay tuition and fees in monthly installments for a small fee. Career Services helps students find jobs, including on-campus positions. The Educational Foundation awards more than 100 scholarships each year. Academic Support Services facilitate personal finance workshops. Academic Advising helps students create an academic plan. Student Success Office helps students overcome barriers to completion. Academic coaches and tutors help students succeed academically, minimizing setbacks and reducing time-to-degree. Click https://www.pvcc.edu/pay-for-pvcc/financial-aid to access the Financial Aid Click https://www.pvcc.edu/pay-for-pvcc/payment-plan to learn more about PVCC’s payment plan Click https://www.pvcc.edu/student-services/career-services to learn more about Career Services Click https://www.pvcc.edu/pay-for-pvcc/pvcc-scholarships to learn more about PVCC Educational Foundation scholarships Click https://www.pvcc.edu/student-services/academic-support/personal-finance to learn more about personal finance and upcoming workshops Click https://www.pvcc.edu/advising to learn more about Academic Advising Click https://www.pvcc.edu/student-services/student-success-office to learn more about the Student Success Office Click https://www.pvcc.edu/student-services/academic-support to learn more about academic coaching and tutoring

Financial aid Click https://fafsa.ed.gov/ to complete the Free Application for Federal Student Aid (FAFSA)

Financial aid Financial Aid Office M136 Main Building May 14 – August 3 Monday through Thursday: 8 a.m. – 5:30 p.m. Friday: 8 a.m. – 11:30 a.m. FAFSA workshops May 26 June 23 July 28 Available aid Federal and state grants Federal Work Study (FWS) Subsidized student loans Unsubsidized student loans

Student loan repayment Limit loans to 1x expected earnings Click https://www.forbes.com/sites/work-in-progress/2010/08/02/lifetime-earnings-home-car-children-education-retirement/#5458bd57507d to learn more about student loan debt Click https://www.bankrate.com/calculators/college-planning/loan-calculator.aspx to calculate student loan repayment Crystal Filer-Ogden stated, “The average loan indebtedness for PVCC students is $7,520” (May 23, 2018).

The financially savvy college student Most college students dropout for financial reasons. Love your life, not your classmates! Create a budget. Use an app or envelopes to keeps tabs on spending. Live below your means. Avoid debt! Do not fall prey to credit cards. Use cash, not debit. Use debit, not credit. Click http://www.washingtonpost.com/wp-dyn/content/article/2009/12/09/AR2009120903045.html to learn more about why students drop out Click https://www.usnews.com/education/best-colleges/paying-for-college/slideshows/10-strategic-ways-to-pay-less-for-college to learn more about ways to reduce the cost of obtaining the postsecondary credential

Simple budget Income Financial Aid Wages Expenses Tuition and fees Books and supplies Housing Dining Health Phone Transportation Insurance Other

12 tips from real college students Live at home Get a roommate and cut your housing and utility expenses in half! Carpool or use public transportation Cook your own meals and pack a lunch Shop for used textbooks (BUY THE RIGHT BOOK) Big box stores sell school supplies at a discount in August Shop consignment stores Seek out free entertainment on-campus in the Charlottesville area Join a student club Workout on campus Take advantage of student discounts Pay your bills on time

Real life scenario Grocery list 1/5 lb. deli meat $1.80 Item Buy Make Sandwich $8.75 $2.27 Drink $1.75 (soda) $0.00 (filtered water) Other $0.00 $0.75 Tax $1.08 $0.16 Total $11.58 $3.18 Grocery list 1/5 lb. deli meat $1.80 2 slices whole wheat bread $0.21 1 slice cheese $0.26 1 apple $0.40 2 oz. carrots $0.21 1 oz. snack crackers $0.14 $11.58 - $3.18 = $8.40 x 3 x 16 = $403/semester or $806/year

Personal finance goals Create a budget Set aside an emergency fund Make a commitment. For example, I will commit to doing __________ to improve my financial situation. Get an accountability partner Check out www.pvcc.edu/personal-finance for more information According to the Federal Reserve Board (May 2018), “Four in 10 adults in 2017 would either borrow, sell something, or not be able pay if faced with a $400 emergency expense” (p. 21). https://www.federalreserve.gov/publications/files/2017-report-economic-well-being-us-households-201805.pdf Financial challenges as reported by PVCC students include: auto accidents and repairs; computer problems; illness (to themselves or a family member/loved one); lack of affordable housing; job loss or change in employment; death of parent, guardian, or caretaker; loss of financial aid (e.g., SAP); childcare; lack of health insurance or inadequate coverage;