Paying for an Education

OBJECTIVE Students will be able to… Develop a plan to finance post-secondary education AGENDA Journal Payment Plans FAFSA4caster /class Journal What is your plan for financing your after high school plans. Do you have money saved up? How are you going to get more funds?

What role does financial planning have in preparing for college? Plan Ahead! Let’s tie our first two units together… What role does financial planning have in preparing for college?

Plan Ahead! Answer the following questions on your note sheet: Are you interested in going to a two-year or four-year school? What about an in- state or out-of-state college? Do you prefer a public or private university?  https://bigfuture.collegeboard.org/pay-for-college/paying-your- share/college-savings-calculator College savings calculator – see if you’re going to hit a college savings goal Ready to be scared?

Plan Ahead! What are some ways to get prepared? 529 Plans- Government sponsored college savings plans that are tax advantaged Savings accounts Higher Interest Rate Investments

Financial Aid Grants- money the government gives you for going to school. You don’t ever have to pay this back Loans- typically pretty low interest rate loans for school and living expenses. You do have to pay back the principle… and then some Which is better?

Fafsa Free Application for Federal Student Aid This is how the government knows you want their money Everyone should fill this out!!! Asks questions about your income and taxes. You will need your parents’ tax return, so you will probably want to fill it out with them Do it ASAP! Some funding options are first come, first served

Fafsa4caster https://fafsa.ed.gov/FAFSA/app/f4cForm?execution=e2s1 Great tool that you can use to estimate your federal financial aid

Scholarships What can you get scholarships for? Academics Sports Clubs/Hobbies Mr. Bird did public speaking and essay writing- not a lot of competition XD There are plenty of online resources that will help you find scholarships to go for

Work Work during school – Plan on it! Benefits: Source of income Helps you be more responsible Gets you work experience for after you graduate Start making contacts you can use for networking

Spotlights (if there’s time)