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How am I going to pay for college? Got Money?
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How am I going to pay for college? Got Money?
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How am I going to pay for college? Got Money?. Projected College Costs. Budget. Calculate how much money you earn or are given in a month. Calculate your expenses. Set your spending goals. Decide on a method to keep track of your budget (Budget Worksheet). - PowerPoint PPT Presentation
Transcript of How am I going to pay for college? Got Money?
How am I going to pay for college?
Got Money?
Projected College Costs
Cost of Attendance BYU-Hawaii(2 Semesters)
UH-Manoa(2 Semesters)
Chaminade(2 Semesters)
HPU(2 Semesters)
Community(2 Semesters)
Tuition & Fees(For BYUH includes medical benefits)
$ 4,770 $ 9,904 $ 20,090 $ 19,980 $2,554
Books & Supplies 1,500 1,500 1,600 1,500 976
Room & Board 5,346 10,029 11,430 13,230 N/A
Personal Expenses 800 1,582 1,314 1,785 1,394
Total Estimated Annual Cost $ 12,416 $ 23,015 $ 34,434 $ 36,495 $ 4,914
Estimated Cost to Graduate $ 55,872 $ 92,060 $ 137,736 $ 145,980 $ 19,656
Budget• Calculate how much money you earn
or are given in a month.• Calculate your expenses.• Set your spending goals.• Decide on a method to keep track of
your budget (Budget Worksheet).• Review progress regularly.
Budget Ideas• Set and Stick to a Budget.• Pay Yourself (Savings).• Limit Eating Out.• Free or Low Cost Entertainment.
Sample Budget WorksheetMonth ________________ Year ____________________
Projected Actual
IncomeGifts/Allowance
Job Income
Other
Total Income $ $
ExpensesTithes & Offerings
Savings
Education Goal
Vacation Goal
Clothing
Entertainment
Other
Total Expenses $ $
Net Total (Income – Expenses) $ $
Savings ChartDaily 1 Month 1 Year 5 years
$0.25 $7.50 $90.00 $450.00
$1.00 $30.00 $360.00 $1,800.00
$5.00 $150.00 $1,800.00 $9,000.00
$10.00 $300.00 $3,600.00 $18,000.00
Financial AidWhat is Financial Aid?Financial aid consists of funds provided to students and families to help pay for postsecondary (college) educational expenses. When planning for college and comparing aid packages, it is important to look at the net cost of attendance:
How to determine your Net CostExample:
XYZ UniversityBYUHawaii
Tuition $20,000$2,385
Scholarship ($10,000)($500)
Net Cost $10,000$1,885
What are the different types of Financial Aid? Scholarships, grants, employment, and loans.
Financial AidScholarships and Grants• Money that does not have
to be paid back.• Awarded on the basis of
merit, skills, unique characteristics or financial need.
Financial AidEmployment• Students who work do
better in school. • Allows student to contribute
towards education.• A paycheck.• Non-monetary
compensation such as room and board.
Federal Aid• Aid awarded primarily on
the basis of financial need.• Must apply every year using
the Free Application for Federal Student Aid (FAFSA).
• Amount of aid is calculated based on government formulas and not determined by institution.
Federal AidCommon Federal Aid Programs at BYU-H:• Pell Grant• TEACH Grant• Stafford Loans• PLUS Loans
Federal AidLoans• Money students and parents borrow to help pay college expenses.• Repayment usually begins after
education is completed.• Interest will accrue while in
school. • Only borrow what is really
needed.
Other Resources at BYU-Hawaii?
• Student Employment• Deferred Payment Plan• Book Loan• Payroll Deduction
Mahalo!BYU-HawaiiFinancial Aid OfficePhone: 675-3316Fax: 675-3323Email: [email protected]
Office Hours:Monday – Friday 8:00am – 5:00pm
