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Financial Education for College Access and Success

Financial Education for College Access and Success. Advisory Council Meeting December 17, 2013. Year 4 Quarter 1.

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Financial Education for College Access and Success

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  1. Financial Education for College Access and Success Advisory Council Meeting December 17, 2013 Year 4 Quarter 1 The contents of this agenda were developed under a grant from the Department of Education. However, these contents do not necessarily represent the policy of the Department of Education and you should not assume endorsement by the Federal Government.

  2. Agenda • Welcome and Roll Call • Nancy Brooks, U.S. Department of Education • Susan Cowden, Tennessee Department of Education • Dr. Kris Juffer, Action Research & Associates • Webpage • Social Media • Curriculum • Next Steps

  3. Comments from the Departments of Education • Ms. Nancy Brooks • U.S. Department of Education • Ms. Susan Cowden • Tennessee Department of Education

  4. Evaluator • Dr. Kris Juffer • Action Research and Associates, Inc.

  5. Branding

  6. Name and Logo • College GP$ - Goals, Problems, Solutions

  7. The Webpage

  8. Social Media Dissemination

  9. Facebook www.facebook.com/CollegeGPS

  10. Twittertwitter.com/College_GPS

  11. Curriculum

  12. Curriculum Plan • Divided into 4 Learning Segments (Units) • Encompasses all 15 Tennessee Personal Financial Literacy Standards • Subsequently encompasses all of the National Jump$tart Standards • Eliminates the problem of “fitting in” the College Access and Success component as a separate learning segment/unit.

  13. Considering My Future 1. Dreaming (TN 1 & 2) • What does retirement look like and why does planning for your future matter? 2. Things that Fire Me Up! (TN 3) • Interest inventory 3. When I Grow Up I Want to Be…. (TN 3) • Possible careers / Education needed for your career 4. Navigating the Roadblocks and Detours To Your Dream (TN 2 & 3) • Impediments/overcoming impediments – include economic conditions 5. Public, Private, Vocational, Party College? Where to Go?? (TN 3) • Types of post-secondary institutions

  14. My Financial Plan for Education 1. A New “Word” with Big Benefits (TN 4) • FAFSA • Why complete, when (more than one time), what you need, how to complete • Website • create checklist for students 2. Money, Money, Money (TN 4) • Grants and scholarships, lottery, work study, Pell, accessing 529 (or other savings) plan 3. When Does Debt Make Sense? (TN 4) • Student loans 4. Hey Kid, Have I Got a Deal for You? (TN 7) • Scams – sites that want you to pay for access to scholarship information – consumer protection

  15. I’m In College!! 1. $10 in My Coat Pocket! (TN 13 & TN 14) • College Budget • Better Money Habits (BoA and Kahn Academy video that might be a good link) – where to live, renter’s insurance, utilities, transportation, meal plans 2. I’m FREE!! Or Am I? (TN 5 & 6) • Post-college budget • What will your post-college budget look like if you amass a high level of unnecessary student loan debt? (in both college and post-college budgets consider the concepts of gross and net income) 3. Who’s Going To Take Care of My Money? (TN 8) • Now that you will be away from your hometown bank, what type of banking institution makes the most sense. 4. I’m Worth What?? (TN 6) • Net worth • Start with scenario which provides details of things they own and debt – (Dallas Fed has video to link to under Building Wealth that is about net worth.) 5. What Do You Mean I Have 10 Visa’s and a House?(TN 7) • Identity theft – (lesson would be on student designing plan to protect themselves 6. Finishing Strong • (May move this to a “Tips” page rather than making it a lesson) • know criteria for maintaining financial aid (SAP) • be successful academically • getting involved in activities on campus that will help you succeed in school • building relationships with your instructors • meeting with your advisor

  16. All Grown Up – No More Spring Breaks! 1. Out of College and Raising my Score! (TN 10) • Now that you are out of college– continuing to establish credit • Pull credit report/score – what factors influence (positively and negatively) your credit score 2. Retiring My Student Loan Before I Retire (TN 4 & 10 & 12) • (May move this to a “Tips” page online and in student notebook rather than making it a lesson) • immediately contact all agencies to whom you owe money • gather all documents • understand the pros and cons of consolidating your loans • take advantage of student loan repayment programs • know when you have to start repaying your loans 3. I Need a Ride to Work! • Auto loans (transportation to work) (TN 11) 4. Making the Dream a Reality – Getting Serious About Growing Your Retirement Fund (TN 15) • 401K, 403B, stocks, bonds, mutual funds, etc…. ways to grow your money

  17. Next Steps

  18. Year 4 Quarter 2 • Website Launch • Recruiting for Middle School Workshops • Recruiting for Summer Graduate Course • Syllabus • Writing Curriculum • Year 4 Quarter 2 Advisory Council Meeting

  19. Questions?

  20. Thank you!! • Your support is appreciated! • Please let us know if you have questions, concerns, or advise that will enhance this project.

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