1. MONEY FOR COLLEGE

2. I CAN DEFINE AND DISCUSS AT LEAST 3 WAYS TO PAY FOR COLLEGE

3. WHAT ARE YOU PAYING FOR?? Tuition Cost of Classes Room & Board Cost of living On campus or Off campus Food!! Fees Library Activity Computer Lab Etc. Books Every class makes you buy at least one book Travel Daily gas Travel home

4. HOW MUCH DOES COLLEGE REALLY COST?? ESTIMATES FOR THE 2013 – 2014 SCHOOL YEAR Private Universities: Baylor - $48,000 State Schools (Big Name): UT Austin - $25,000 Texas A&M - $22, 000 State Schools (Smaller): Sam Houston- $21,000 Texas State - $21,000 Junior College: San Jacinto JC - $3,282 Community College: Lone Star - $2,800

5. SO WHERE DOES THE MONEY COME FROM??

6. PAYMENT OPTIONS Federal Financial Aid Federal assistance given in the form of loans, grants or work study Loans Money you have to pay back Grants Money awarded based on need Work Study On campus jobs used to pay for tuition Scholarships Money awarded based on academic or extracurricular achievement

7. TYPES OF LOANS Federal Loans Subsidized Government pays the interest while you are in school Unsubsidized Loan collects interest while you are in school and is added to how much you owe after graduation Private Loans Loans from banks or credit unions Many make you pay while in school Changing interest rates

8. MOST MONEY ISN’T FREE Loan Interest Amount charged for borrowing money Current Going Rate for Education Loans Federal Loans – 6.8% Private Loans – 18% What does that really look like? Approx. $7 to $18 for every $100 borrowed Simple Interest Calculator http://www.csgnetwork.com/simpleloansintcalc.html

9. BEST OPTIONS?? Grants Must apply - FAFSA If you qualify – TAKE IT!! Scholarships Hundreds awarded each year Most students don’t want to do the work to fill out applications Work Study Work on campus Work around class schedule

10. WRAP UP ACTIVITY Discuss with partner 3 new things learned during the presentation.