Key to the Future Chapter 4, Lesson 1 Warm-Up Questions CPS Questions 1 – 2 Note for teacher: Use...

Key to the Future

Chapter 4, Lesson 1Chapter 4, Lesson 1

Warm-Up QuestionsWarm-Up Questions

CPS Questions 1 – 2CPS Questions 1 – 2

Note for teacher: Use “Pick a Student” button in CPSNote for teacher: Use “Pick a Student” button in CPS

Key to the Future

Lesson 1: Financing for CollegeLesson 1: Financing for College

Lesson 2: Selecting a CollegeLesson 2: Selecting a College

Lesson 3: Navigating the Testing MazeLesson 3: Navigating the Testing Maze

Lesson 4: Essays, Interviews, and Campus Lesson 4: Essays, Interviews, and Campus VisitsVisits


Key to the Future

Costs of CollegeCosts of College

Sources of College FundsSources of College Funds

Planning to Finance a College EducationPlanning to Finance a College Education


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How much do you think it costs to go How much do you think it costs to go to a college or university? Make a to a college or university? Make a short list of ways you can get the short list of ways you can get the money you need to attend a school of money you need to attend a school of your choice. Try to cover all possible your choice. Try to cover all possible expenses, and reflecting on what expenses, and reflecting on what you’ve learned about financial you’ve learned about financial planning, separate your needs from planning, separate your needs from your wants. your wants.



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Key to the Future

TuitionTuition Fee for instructionFee for instruction

RoomRoom Cost of a place to liveCost of a place to live

BoardBoard Cost of FoodCost of Food

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Key to the Future

Least expensive option for collegeLeast expensive option for college Includes community, junior, and technical Includes community, junior, and technical

collegecollege Attending a two-year college, then Attending a two-year college, then

transferring can keep costs downtransferring can keep costs down

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Key to the Future


In-state residentIn-state resident Legal resident of the state in which the college is locatedLegal resident of the state in which the college is located Average yearly cost at a public community college = Average yearly cost at a public community college =

$2,963$2,963 Out-of-state studentsOut-of-state students

Students who are not legal residents of the state in Students who are not legal residents of the state in which the college is locatedwhich the college is located

Average yearly cost at a public community college = Average yearly cost at a public community college = $5,175$5,175

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More expensive than two-year collegesMore expensive than two-year colleges Public UniversityPublic University

Institution of higher learning that is operated by and Institution of higher learning that is operated by and receives money from the state in which it is locatedreceives money from the state in which it is located

Average yearly in-state resident cost at a public Average yearly in-state resident cost at a public university = $8,244university = $8,244

Average yearly out-of-state student cost at a public Average yearly out-of-state student cost at a public university = $20,770university = $20,770

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Private UniversityPrivate University Institution of higher learning Institution of higher learning

that is operated by a private that is operated by a private organizationorganization

Average yearly cost at a Average yearly cost at a private university = $21,253private university = $21,253

Charge all students the same Charge all students the same raterate

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Learning Check QuestionsLearning Check Questions



Key to the Future

$ On the worksheet provided, brainstorm a On the worksheet provided, brainstorm a list of anticipated expenses that will need list of anticipated expenses that will need to be paid for you to complete your college to be paid for you to complete your college education.education.

$ Be prepared to share your answers with the Be prepared to share your answers with the class.class.


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Average undergraduate received $12,000 Average undergraduate received $12,000 in 2011in 2011

ScholarshipsScholarships Recipients are usually selected based on Recipients are usually selected based on

academic, athletic, or artistic meritacademic, athletic, or artistic merit GrantsGrants

Recipients are usually selected based on Recipients are usually selected based on their financial needtheir financial need


Key to the Future

Talk to your guidance counselor, campus Talk to your guidance counselor, campus career center, or go to the librarycareer center, or go to the library

Search the Internet for scholarshipsSearch the Internet for scholarships Contact the college’s financial aid officeContact the college’s financial aid office Include your JROTC instructor if you are Include your JROTC instructor if you are

seeking a military awarded scholarship or seeking a military awarded scholarship or academy appointmentacademy appointment


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Do you meet all the requirementsDo you meet all the requirements If not, is there a way you canIf not, is there a way you can

Scholarships are very competitiveScholarships are very competitive You have a 1 in 8 chance of getting a You have a 1 in 8 chance of getting a

scholarshipscholarship Don’t give up if rejectedDon’t give up if rejected Be careful of scholarship fraudsBe careful of scholarship frauds


Key to the Future





Key to the Future

$ Use the Internet to research possible Use the Internet to research possible scholarships in which you are eligible.scholarships in which you are eligible.

$ Be prepared to share your results with the Be prepared to share your results with the class.class.


Key to the Future

Pell GrantPell Grant Need based Need based grant for students who have a documented grant for students who have a documented

needneed Must complete the Free Application for Federal Student Must complete the Free Application for Federal Student

Aid (FAFSA) Aid (FAFSA) Maximum yearly Pell grant for 2012 = $5,700Maximum yearly Pell grant for 2012 = $5,700

Federal Supplemental Educational Opportunity Grant Federal Supplemental Educational Opportunity Grant (FSEOG) (FSEOG)

Students with exceptional financial needStudents with exceptional financial need You can receive $100 - $4,000 a yearYou can receive $100 - $4,000 a year

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Key to the Future

Most common US Government LoanMost common US Government Loan SubsidizedSubsidized

Government pays the interest while you’re in schoolGovernment pays the interest while you’re in school UnsubsidizedUnsubsidized

You pay all the interestYou pay all the interest You can borrow up to $5,500 the first year with a You can borrow up to $5,500 the first year with a

maximum subsidized amount of $23,000 for four yearsmaximum subsidized amount of $23,000 for four years You can defer payments on an unsubsidized Stafford You can defer payments on an unsubsidized Stafford

loan by capitalizing the interestloan by capitalizing the interest Adding the interest payments to the loan balanceAdding the interest payments to the loan balance


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Perkins LoanPerkins Loan Awarded to students with exceptional financial needAwarded to students with exceptional financial need

Parent Loan for Undergraduate Students (PLUS) Parent Loan for Undergraduate Students (PLUS) All loans require you to complete the FASFAAll loans require you to complete the FASFA

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Government loans are the best Government loans are the best dealsdeals

Private loans can be used if you Private loans can be used if you still need moneystill need money

Private lenders sometimes charge Private lenders sometimes charge fees for the loanfees for the loan

Low interest rates during the in-Low interest rates during the in-school grace period may raise the school grace period may raise the rate when you graduaterate when you graduate


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Federal AidFederal Aid State AidState Aid Federal Work-Study Federal Work-Study

ProgramProgram Military ProgramsMilitary Programs College-Controlled AidCollege-Controlled Aid Scholarship LotteriesScholarship Lotteries

Chapter 4, Lesson 1Chapter 4, Lesson 1 Photo courtesy of Fotolia

Key to the Future





Key to the Future

Using the worksheet provided, Using the worksheet provided, identify methods to reduce college identify methods to reduce college costs. costs.

Be prepared to share your answers Be prepared to share your answers with the class.with the class.


Key to the Future

How should you start planning?How should you start planning? High school guidance counselor or career High school guidance counselor or career

centercenter Public Library Public Library WebWeb Financial Aid Offices at your preferred collegesFinancial Aid Offices at your preferred colleges

Chapter 4, Lesson 1Chapter 4, Lesson 1 Graphic courtesy of Shutterstock

Key to the Future

Complete the FASFA shortly after January 1 Complete the FASFA shortly after January 1 of your senior yearof your senior year

Opens the door to many sources of Opens the door to many sources of financial aidfinancial aid

Provide accurate informationProvide accurate information Keep copies of all the application formsKeep copies of all the application forms

Chapter 4, Lesson 1Chapter 4, Lesson 1Graphic courtesy of Shutterstock

Key to the Future





Key to the Future

Using what you have learned in this Using what you have learned in this lesson, outline a plan for paying for lesson, outline a plan for paying for your college education.your college education.

Be prepared to share your tips with Be prepared to share your tips with the class.the class.


Key to the Future


Costs of CollegeCosts of College

Sources of College FundsSources of College Funds

Planning to Finance a College EducationPlanning to Finance a College Education

Key to the Future


Review QuestionsReview Questions



Key to the Future

Selecting a collegeSelecting a college

Graphic courtesy of ShutterstockChapter 4, Lesson 1Chapter 4, Lesson 1

Key to the Future Chapter 4, Lesson 1 Warm-Up Questions CPS Questions 1 – 2 Note for teacher: Use...

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