Do Now 1)How do most people pay for college? 2)Why do people take this risk?

10.2- Financing your Education Where can I get the money for higher education? Grants – Do not need to be repaid – Based on need or academic merit – Given by state and federal government and colleges

Scholarships – Do not need to be repaid – Based on ability – Given by colleges or private groups Loans – Must be repaid – Federal loans and private loans – Subsidized- based on need- some interest paid by government – Unsubsidized- student pays all interest

Work-study programs – College helps student find a job – Federal government pays salary – Earnings do not need to be repaid

Guided Practice Pros and Cons

Independent Practice 1) Read the common myths about financing college. 2) Answer the questions.

Exit Ticket 1) What was the most surprising myth about financing education? 2)Why?