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Paying for College

Paying for College. Revised 8/2013. Agenda. College Costs: Education Pays. Postsecondary education creates more job stability. 8.3 . 7.7 . 6.8. 6.2. 4.5. College Costs: Education Pays. Postsecondary degrees lead to greater weekly earnings.

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Paying for College

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  1. Paying for College Revised 8/2013

  2. Agenda

  3. College Costs: Education Pays Postsecondary education creates more job stability 8.3 7.7 6.8 6.2 4.5

  4. College Costs: Education Pays Postsecondary degrees lead to greater weekly earnings Source: Bureau of Labor Statistics, Current Population Survey, 2013.

  5. College Costs

  6. College Costs: Cost of Attendance ?

  7. College Costs: 4-year Public Schools

  8. College Costs: 4-year Private Schools

  9. College Costs: 2-year and Vocational Schools

  10. College Costs: “Hidden” Costs • Test fees • Application fees • Dorm deposits • Health Insurance • Postage/Communication • Printing

  11. Agenda

  12. Money: 3 Pots of Money Government/ Institutional Financing Family Financing Community Financing

  13. 1079 Options: The Barriers • You may not have access to federal or state financial aid • You may not be eligible for some employment • You may not be eligible for a few scholarships • You may have to work harder and longer hours than most students • You will also be attending school while you work • You may have to be more creative than most students

  14. 1079 Options: You Can Pay for College! ! • College Credit in HS • Running Start • AP Classes • Work • Scholarships/Sponsorship • Internships for scholarships • Institutional scholarships • Community colleges • Part-time enrollment

  15. Money: Family Financing • What can you and your family contribute to your college education? • Savings • Income • Investments • How many people are in your family? • How many are/will be in college? • What kind of unusual expenses do you have?

  16. Money: Community Financing What scholarships or other external funding can you find?

  17. Money: Scholarships • TO • FOR • Academics • Athletics • Community involvement • Leadership • Interests • Hobbies • Demographic • Field of Study • Family heritage • Income • School choice • Where you live • Where you’re from • Contest • Raffle • Essay • Portfolio • Affiliation • Beliefs and passions • Participation • Extra-Curricular • Skill • Birthday • School • Company • Organization • Individual • FROM • YOU

  18. Money: Government/Institutional Financing What funds are available to me through the federal or state government or from my college? • Financial Aid • Grants • Loans • Work-Study

  19. Money: Financial Aid = Paying for College Family Financing

  20. Money: Financial Aid Hierarchy *Need-based *Available to everyone *On financial aid award letter High High • Gift Aid: Grants COST AVAILABILITY Low/No Low

  21. Money: Scholarships and Grants

  22. Money: Work Study

  23. Money: Federal Loans

  24. Money: Other Options • Starting at a community college • Working while in college • HOPE & Lifetime Learning Credits • College credit in HS: Running Start, AP • AmeriCorps • Military service • Western Undergraduate Exchange (www.wiche.edu)

  25. 1079 Options: Paying for College

  26. Agenda

  27. Getting It: Financial Aid = Paying for College Family Financing

  28. Getting it: Family Financing • Open a savings account! • Summer/after-school jobs • Parents/grandparents • Save some of your weekly allowance • Saving birthday and holiday money • Every little bit counts! • Individual Development Account • cfed.org/programs/idas/

  29. Getting It: Scholarships

  30. Getting It: Scholarships • TheWashBoard.org • Studentaid.ed.gov • Finaid.org • Scholarships360.org • ScholarshipJunkies.com • Collegeboard.com • Scholarships.com • Petersons.com • Zinch.com • ScholarshipExperts.com • Fastweb.com

  31. 1079 Options: Scholarship Sources • TheWashBoard.org • LatinoCollegeDollars.org • Scholarshipsa-z.org • CollegeSuccessFoundation.org • Maldef.org • ca-core.org • Salef.org • scholarshipsforhispanics.org • migrant.net/migrant/scholarships.htm • TALK TO THE PEOPLE AROUND YOU! • CREATE YOUR OWN OPPORTUNITIES!

  32. Getting It: Scholarships

  33. 1079 Options: Questions to Ask Colleges • Does your school have scholarships that don’t require a social security number? How do I apply for them? • Where can I find specific department scholarships that I can apply to? • What are my options if I can’t afford tuition for a quarter?

  34. Review: College Process Timeline

  35. Resources: Helpful Websites • Financial aid information: www.finaid.org • Federal student aid: www.studentaid.ed.gov • College Bound: www.hecb.wa.gov • KH2GO Web site: www.knowhow2go.org • NELA online presentations: events.nela.net • Reality Check: www.jumpstart.org/reality-check.html • Washington State G.E.T. Program: www.get.wa.gov • Paying for College Calculators: www.savingforcollege.com/tools_calculators/ • Western Undergraduate Exchange: wiche.edu/wue

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