Student Loans Giovney Mede 1. Class of 2013 graduates average $35,200 in total debt 2. Where student loans are most delinquent 3. Student debt delays spending,

Slides:

Advertisements

Similar presentations

Manage Your Finances Your First Year The Dos and Donts 1)DONT pay your bills late. When you dont pay bills on time, your credit score takes a negative.

Advertisements

Chapter 23.1 Use your Money Wisely

Money Matters Spring 2013 $$$$$$$$$$$$$$$$. True or False – – Using a credit card is a lot easier than paying cash – Credit cards are a great way to buy.

Chapter 22: Borrowing Models Lesson Plan

Budget How to budget your money?. “Budget Busters” Give yourself five points if you have a budget. Give yourself five points if you have a checkbook.

FAFSA Free Application for Federal Student Aid The main form students use to apply for Federal education grants and loans.

Back to Table of Contents pp Chapter 26 How to Get and Keep Credit.

 Outstanding money owed by consumers  Examples  Credit Card Debt  Student Loans  Mortgages.

 Pa y new fees  Pay higher rates  Cancel credit cards.

Credit Cards. Credit WHAT IS CREDIT? $ It is a loan $ It is an agreement $ It comes with fees, interests & other charges Credit is a debt; it is NOT income!!!

DEBT STACKING GETTING OUT OF DEBT. DEBT STACKING WHAT IS DEBT STACKING AND HOW DOES IT WORK?

 Federal student loans usually have the lowest interest rate  Have to start making payments 6 months after graduation  Making payments while in school.

Types of Credit Dr. Josephine Turner, CFP IFAS, University of Florida.

1 Get Smart About Credit $$$$$$$$$$$$. 2 Marsha A. Goetting Ph.D., CFP ®, CFCS è Professor & Extension Family Economics Specialist è Department of Agricultural.

How to Improve Your Credit Score FICO ©2012, TESCCC Economics Unit 5, Lesson 2.

Financial Awareness Ann Elinski Senior Advisor Office of Financial Aid.

Credit Wisdom. Managing Money & Credit: A Lifelong Skill.

8/2/2013 Nicole Murdock Sociology 1010 E-portfolio Summer 2013.

BUDGETING 101 BROUGHT TO YOU BY SFA. BUDGETING: WHAT, HOW, WHEN, AND WHY WHAT: To plan expenditures for everyday life HOW: WE WILL SHOW YOU! WHEN: Everyone.

CFM Learning Goal I can understand college loans so I’m not surprised.

Forbes.com. Make payments as early as possible. Late payments will negatively impact your FICO score. The longer you pay your bills on time, the better.

A.) FinancialAid.gov B.) Wichita.edu/Finances C.) MyCollegeMoneyPlan.orgD.) Money4You.com L C.) MyCollegeMoneyPlan.org F What is the name of the website.

Money Matters Spring 2015 $$$$$$$$$$$$$$$$. True or False – – Using a credit card is a lot easier than paying cash – Credit cards are a great way to buy.

Credit Receiving something now and promising payment at a later time. Principle: Actual cost of the good or service. Interest: Amount paid for the use.

Credit Consumer Economics. What is credit? The ability to borrow money now with the promise that you will repay it in the future. Credit can be a useful.

Credit statistics Average college student has 4.25 credit cards College seniors graduated with an average credit card debt of more than $4,100. Close to.

Credit Credit is a sum of money a person can use for a period of time before having to reimburse the lender.

Dear God – I know that You are the source of all that I need to get through each day. I need to look for your wisdom and strength to make my day easier.

Banking and Credit Cards. Fees ATM Fee- charge for using ATM services from a different bank ATM Fee- charge for using ATM services from a different bank.

FUNDING YOUR FUTURE CLASS OF 2015 PART 2.  Will you need some type of post-high school education/training?  How will you pay for that education/training?

DO NOW: What attitudes do people have about the use of credit?   Always pay cash, Credit.

And the Facts to Debunk Them. Only students with the best grades qualify for financial aid.  Merit-based awards are called scholarships.  Financial.

Financial Management Jonathan Banks. 1. Get Paid What You're Worth and Spend Less Than You Earn 1. Get Paid What You're Worth and Spend Less Than You.

Budgeting Personal Finance. Financial Planning Net Worth Income Expenditures Unplanned Expenditures Debt Savings.

Chapter 22: Borrowing Models Lesson Plan Simple Interest Compound Interest Conventional Loans Annuities 1 Mathematical Literacy in Today’s World, 8th ed.

DWU #2 Why is it important to understand the loan process? How might consumers get taken advantage of? What are some key concepts that an individual might.

Annual Percentage Rate (APR) The amount it costs you a year to use credit, expressed as percentage rate Interest, transaction fees, and service charges.

Michael Rupured, M.S., AFC Extension Financial Management Specialist College of Family & Consumer Sciences.

Credit Basics. Some old stats 83% of college students have at least one credit card 45% of college students are in credit card debt –Average debt over.

Filing for Bankruptcy Mr. Stasa – WE City Schools © 1.

AGENDAS OUT! WRITE THE FOLLOWING: EXIT TICKET FAMILY BUDGET DUE TOMORROW, SEPT. 14 IF WE DO NOT FINISH IN CLASS. QUIZ ON KEY CONCEPTS OF WHAT ARE SOCIAL.

Credit and Debt. The basic idea You want money (say to buy a house) You go to the bank to borrow some They agree to give you money, but only if you pay.

Technical college in high school Take basic courses at a community college Take AP classes and tests in High School Avoid private schools if you can help.

Preparing all school employees for their financial futures Marita Zuraitis – President and CEO, Horace Mann.

UNIT FIVE. CREDIT: BUY NOW, PAY LATER. Coming soon to a mailbox near you: Credit Card offers.

How to Improve Your Credit Score FICO ©2012, TESCCC Economics Unit 5, Lesson 2.

As a Non-Profit, Capital Good Fund Provides Financial Services That Better the Lives of Rhode Islanders Financial Coaching Microloans.

Chapter 6 Managing Your Debts 6.4 Managing Your Debts 6.4.

The Three C’s of Credit Objectives: – Students will be able to describe the “Three C’s of Credit (Capacity, character, and collateral) and factors used.

Creating a Budget for Mike and Jennifer. What is a Budget? Weighing how much you earn against how much you spend.

Back to Table of Contents pp Chapter 26 How to Get and Keep Credit.

First Semester Review. Credit Score Credit score is lower if: Very brief credit history Apply for new cards frequently Exceed your credit card spending.

Candy Bar Madness. Directions The following slides represent different categories of Americans, using candy. Look at each slide and fill in your notes.

APR Quiz Question 1 You’ll see APR listed whenever you are able to borrow money, but what does APR stand for? A Annual Percentage Rate B Automatic Percentage.

Bankruptcy. A legal process to get out of debt when you can no longer make all your required payment.

You and Your Credit UNIT VII – Personal Financial Literacy.

Unit Four Good Debt, Bad Debt: Using Credit Wisely.

Good Morning, 8 th Graders! Today’s Agenda: - Intro to Credit / Credit Notes / Funny Money Video - Credit Scores - BrainPop Video/Quiz - Computer Time.

Student Debt: It’s Now Part of the Admission Process F. Duane Quinn Financial Aid Specialist

Advantage: Convenience  Credit is handy for shopping the Internet or eliminating the need to carry around large amounts of cash when shopping, renting.

Assets and Liabilities. Assets- Items you own that have a value Liabilities- Debts you owe Net worth- Value of assets minus liabilities Checking Account.

Student Debt Goal: By 2030, undergraduate student loan debt will not exceed 60 percent of first-year wage for graduates of Texas public institutions.

Borrowing Money Unit 6.

7.6.7 Simple Interest.

Credit and Consumer Rights

Credit Scores Interest on Debt and Interest on Savings

Private and Private-Stated Related Schools

Financial Planning: Credit Cards

Presentation transcript:

Student Loans Giovney Mede 1. Class of 2013 graduates average $35,200 in total debt 2. Where student loans are most delinquent 3. Student debt delays spending, saving and marriage

In the United States students that are graduating this year have an average of $35,200 in total college debt. The graduates also have government loans that total on average about $26,000, it goes $19,000 for private loans, $13,000 for family and personal loans. Also graduating students can have an average of $3,000 in credit card debt. In 2011, 25% of students said that they would have done things differently such as find ways to save more and spend less while at school.In 2013, that has jumped to 39%. College Graduates of 2013

The debt does continue to grow reaching over $1 trillion dollars nationwide. One in every five households have people that still have college debt. The average debt since last year has reach a new high of $26,600. Student debt delays spending, saving and marriage

Delinquent-Late delinquent-student-loans/?iid=EL delinquent-student-loans/?iid=EL Can anyone guess what is the percentage of people in Rhode Island that are late with student loan payments? Where student loans are most delinquent

Always make sure to pay your student loans on time because student loans is one of the factors that can ruin your credit score. In class we learned that to have a good credit score you have to make all your payments if you want to qualify for a home, car etc. What can you do?