1. Personal Finance: Module 1 Lesson 2 Prepare for the Journey Section 2.1 – What Are My Options?

2. Prepare for the Journey Slide 2 Objectives Students will  understand the benefits of completing a postsecondary program of study,  explore and compare postsecondary options and programs,  explore and compare types of postsecondary institutions, and  understand the importance and impact of accreditation and placement rates.

3. Prepare for the Journey Slide 3 Glossaries  KentuckianaWorks College Access Center KentuckianaWorks College Access Center  Iowa College Access Network Iowa College Access Network

4. Prepare for the Journey Slide 4 Why should I continue my education? President’s Postsecondary Education Promise

5. Prepare for the Journey Slide 5 Why go to college? Prepare for College

6. Prepare for the Journey Slide 6 5 ways education pays You Can Go!TM is a trademark owned by the College Board, which was not involved in the production of, and does not endorse, this presentation. You Can Go!TM by the College Board. Copyright © 2012. The College Board. www.collegeboard.org. Reproduced with permission. I will buy a car. A home. The latest fashions. I will travel the world. I will stand on my own two feet. I will be able to take care of my family through both good times and bad. I will have the energy to juggle work and family. To keep up with my friends. To enjoy the world around me. I will pass my experiences on to my children. I will inspire them to achieve even more than I do. I will bring people together. I will speak on their behalf. I will make change happen.

7. Prepare for the Journey Slide 7 A college degree or postsecondary certificate has never been more necessary for success in the global economy. U.S. Department of Education, Press Release, October 6, 2011 “ ”

8. Prepare for the Journey Slide 8 What are my choices?  Apprenticeship (paid, on-the-job training)  Technology “tech” center (certificate/diploma)  Community college (2-yr. degree and certificate programs)  College/university (4-yr. degree programs)  Graduate degree (master’s, doctoral, and professional) Credential levels explained Definition of Academic Degrees Definition of Academic Degrees

9.  Formal program that features PAID on-the-job training and classroom instruction  Skilled, in-demand occupations  Receive a professional certificate Apprenticeships Prepare for the Journey Slide 9

10. Prepare for the Journey Slide 10 Apprenticeships My Next Move REGISTERED APPRENTICESHIP

11. Prepare for the Journey Slide 11 27 technology centers in Tennessee  50+ distinct certificate programs  A well-trained, skilled workforce is in demand!  Generally takes two years (or less) to complete  Smaller campus with a set course schedule  More affordable  Open admissions policy NPR interview about tech centers A Possible Model for Higher Education

12. White House Summit on Community Colleges Community College Summit 13 community colleges in Tennessee  Offer associate’s degrees and certificate programs  Require general education courses  Programs generally take two years to complete  More affordable post-secondary degree option  Open admission Prepare for the Journey Slide 12

13. Prepare for the Journey Slide 13 Colleges and universities  Some careers require a bachelor’s degree  Generally takes four years to complete  Require general education courses  Choose from public or private institutions Examples of university majors and careers: Choosing a Major at Austin Peay State University

14. Prepare for the Journey Slide 14 Graduate programs Some career paths require that you continue on to earn a more advanced degree!  Master’s degree – degree earned after a bachelor’s degree (e.g. principal, school psychologist)  Doctoral degree – even more advanced degree that follows a bachelor’s or master’s degree (e.g. biochemist, university professor)  Professional degree – degree required for work in specific fields (e.g. lawyer, doctor, dentist, pharmacist). To receive a professional degree, you must first earn a bachelor’s degree.

15. Prepare for the Journey Slide 15 Private “for-profit” institutions  These institutions have a profit motive (in business to make money). Also called proprietary schools.  Generally, course credits will not transfer to other schools.  Tuition is usually higher than a similar program at a public institution.  Some for-profit institutions may not be eligible for scholarships and other financial aid which can result in higher student loan debt for the student. NEVERagree to student loans if you’re not NEVER agree to student loans if you’re not 100% sure you can comfortably pay them back! 100% sure you can comfortably pay them back! For-profit colleges: undercover testing For-Profit Deceptive Practices Revealed

16. Prepare for the Journey Slide 16 Before signing on the dotted line  Carefully review all paperwork, especially withdrawal and refund policies  Conduct your own research— is the education worth the price?  Check job placement rates—do employers recognize and readily accept credentials from the institution?  If your career choice requires a state license or certification—does the institution meet your state’s licensing requirements? Is it worth the price?

17. Prepare for the Journey Slide 17 Accreditation Because it ensures that an education provided by an institution of higher education meets acceptable levels of quality. — U.S. Department of Education Accreditation search tool Database of Accredited Postsecondary Institutions and Programs Why do I care about accreditation?

18. Prepare for the Journey Slide 18 Diploma mills What is a diploma mill? An institution of higher education that is not accredited and grants diplomas which are worthless because of the lack of proper standards — Webster’s Third New International Dictionary

19. Prepare for the Journey Slide 19 CollegeNavigator

20. Prepare for the Journey Slide 20

21. Prepare for the Journey Slide 21 $38,165 (16 months) CollegeNavigator search results

22. Prepare for the Journey Slide 22 Before choosing a school, think carefully about…  School costs and net price  Financial aid  Academics  Accreditation  Admission requirements  School location, size, and campus life  Work flexibility  Statistics that count  Enrollment contracts  Refund policies  Distance learning or online degrees  Past complaints and reputation Federal Student Aid Things to ConsiderThings to Consider

23. Prepare for the Journey Slide 23 For this project, the PR/Award Number is V215W100015 and the Department of Education is the funding agency. This information is provided for the reader's convenience. Tennessee and U.S. Department of Education are not responsible for controlling or guaranteeing the accuracy, relevance, timeliness, or completeness of this information. Further, the inclusion of information or Web site address does not reflect the importance of the organization, nor is it intended to endorse any views expressed, or products or services offered. Financial Education for College Access and Success