Your Financial Plan How do I plan to pay for it?

A BUDGET?? What’s that? How can a budget… …help you save $$$ for college? …manage your $$$ once you are there?

Break Down the Bill What's It Going to Cost? Video – costs/college-costs-faqs

Tuition and Fees The actual costs of your education –May vary based on your academic program number of credit hours –Full time / part time –In state ($8655) –Out of state ($21706) –Private ($29506)

Books and Supplies Course materials –Books –Supplemental materials (cds, workbooks, etc.) –Pens, paper, etc. Most colleges will provide an estimate on their website In , the national average cost of books and supplies at four-year public colleges was $1200 You probably should add in the cost of a computer and printer, plus ink & paper

Travel Not usually added to the budget unless you live more than a few hundred miles away from campus If a figure has not been provided, make your own estimate based on –the mode of transportation (air/bus/car) –how often you plan to travel

Personal & Travel Expenses A variety of expenses –Laundry –Cell phone –Keep careful track of these as they can quickly build up –However, the national average for four-year public colleges in was $2527

Other expenses Transportation –Car payment –Car insurance –Car maintenance –Parking fee –Gas –Bus or other options Medical insurance –School policy –Parents’ policy Entertainment/eating out/movies/concerts Other stuff?????

INCOME?? What sources do you have for income? What expenses do you anticipate? Budget Data Organizer Income Sources: Expense Categories:

Research HOMEWORK: –Using the Financial Plan Organizer: Estimate your income Focus on the two colleges researched Estimate your expenses Complete each cell Some categories may be not applicable

Your Financial Plan Present the information in MLA format Remember to cite your sources Add these sources to the Works Cited Page you created for your College Research Essay You will be expected to create an all- inclusive Works Cited Page for your final portfolio