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8 th Grade PEP

8 th Grade PEP. Post-Secondary & Financial Planning. Overview. Introduce post-secondary options relevant to career interests Complete Colorado Reality Check activity Explore college costs Introduce financial aid vocabulary. 6 Post-Secondary Options.

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8 th Grade PEP

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  1. 8th Grade PEP Post-Secondary & Financial Planning

  2. Overview • Introduce post-secondary options relevant to career interests • Complete Colorado Reality Check activity • Explore college costs • Introduce financial aid vocabulary

  3. 6 Post-Secondary Options • http://www.youtube.com/watch?v=O4SG2i1iMBs • What were the 6 different options presented in the video? • Can you think of any additional options they may have forgot? • Complete the Education Level portion of your handout. • (Remember, you cannot go into a Master’s or Professional Degree program directly after high school. However, because earning one of these degrees may be your long-term goal, it is included as an option.)

  4. Go to http://www.coloradorealitycheck.com • Click 1 – Reality Check

  5. Colorado Reality Check • Click the location where you want to live

  6. Colorado Reality Check • Use your handout to guide you as you click through each category and select the options you want: • Housing • Utilities • Food • Transportation • Clothing • Health Care • Personal • Entertainment • Miscellaneous • Savings • Student loan debt • After each category, click next to view the next category of options.

  7. View Your Results 1. Record the “Annual Salary Needed” on the bottom of your worksheet 2. Click the arrow to find occupations that match your annual salary

  8. Select Education & Cluster Goal • Select your education goal and Career Cluster • Record your Cluster selection on your handout Click “Get Careers”

  9. Explore Career Results Click into various careers to learn more. Record your top career results, along with salary and other information, at the bottom of your handout.

  10. College Costs & Financial Planning • Yes, college and career training costs money! • However, 2 key reasons why the “price tag” should NOT stop you from getting an education • You will most likely receive financial aid • It will pay off for the rest of your life

  11. Financial Aid • Each year, billions of dollars are made available to students Example $29,000 College cost (Metro Tuition w/out COF + books & fees) $6,000 Federal grants $3,000 College-based scholarship $3,000 Private scholarships & DSF $7,440 College Opportunity Fund Stipend $9,560 Student loans (w/ no interest while in school) $0 Unmet need

  12. Return on Investment • What’s the total value of your education after 30 years? Gain • Yearly gain in salary: $53,300 - $32,552 = $20,748 per year 30 years = $622,440 Loss • $32,552 you could have made - $15,000 you made instead while working part-time in college = $17,552 4 years $70,208 • Plus, total cost to you (student loan amount)= $9,560 $79,768 Gain – Loss = $622,440 - $79,768 = $542,672 gain Bachelor’s degree Average salary: $53,300 High school diploma Average salary: $32,552

  13. Financial Aid Terms Options: Scholarships, Grants, Work study, FAFSA, Loans, College Opportunity Fund • Stipend funds that are applied toward college tuition for any eligible students who attends a Colorado public or participating private institution. Students must be 13 years old to apply. What is? ________________________________? • In order to receive any federal financial aid, a student must complete the Free Application for Federal Student Aid, if eligible. Filling out a this form is the first step in the financial aid process. The application must be completed after January 1st each year prior to enrolling in college. What is _________________? College Opportunity Fund (COF) FAFSA

  14. Financial Aid Terms Options: Scholarships, Grants, Work study, FAFSA, Loans, College Opportunity Fund • Money awarded for education according to financial need. This money does not have to be repaid. What is _________________? • Money awarded for education that must be paid back with interest. What is _________________? • Money awarded to students based on grades, talents extracurricular achievement, or financial need. Students must search out and apply for these funds. This money does not have to be repaid. What is __________________? • Job that helps you earn money to pay for college. What is __________________? Grants Loans Scholarships Work-study

  15. Financial Planning NOW • Work with a parent and/or guardians to estimate your financial aid using the FAFSA4caster. • https://fafsa.ed.gov/FAFSA/app/f4cForm?execution=e1s1 • Put away a portion of your birthday and/or work money to begin saving for college. • Get good grades and get involved. Start a list of your awards, honors, and extracurricular activities to help you apply for scholarships. • Apply for the College Opportunity Fund. • http://cof.college-assist.org

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