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Stretching Student Aid

Stretching Student Aid . Revised 8/2013. Agenda. Financial Aid: Disbursement. Agenda. Shrinking Costs: Balancing Act. Cost of Attendance. Financial Resources. Cost of Attendance. Shrinking Costs: Cost of Attendance. ?. Shrinking Costs: Cost of Attendance. Shrinking Costs.

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Stretching Student Aid

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  1. Stretching Student Aid Revised 8/2013

  2. Agenda

  3. Financial Aid: Disbursement

  4. Agenda

  5. Shrinking Costs: Balancing Act Cost of Attendance Financial Resources Cost of Attendance

  6. Shrinking Costs: Cost of Attendance ?

  7. Shrinking Costs: Cost of Attendance

  8. Shrinking Costs • Tuition & Fees • Books & Supplies • Transportation • Food • Housing • Utilities • Medical expenses • Entertainment • Cell phone • Clothes • Toiletries • Miscellaneous expenses

  9. Shrinking Costs: Tuition and Fees Compare Schools Western Undergraduate Exchange Transfer credits Taking more credits Tuition reimbursement AmeriCorps Military service Part-Time enrollment

  10. Shrinking Costs: Books and Supplies

  11. Shrinking Costs: Transportation

  12. Shrinking Costs: Food

  13. Shrinking Costs: Housing and Utilities

  14. Shrinking Costs: Entertainment • Student Deals • Movies • Restaurants • Clubs and School Events • Sports classes • Activity-based clubs • Intermural sports • Campus events • Free Events • Community events • Community festivals • Make Your Own! • Potlucks • Movie nights • Craft nights • Outdoor trips

  15. Shrinking Costs: Other

  16. Shrinking Costs: Other • How long will it take to graduate? • What will my job prospects be like once I graduate? • What will my earning potential be once I graduate?

  17. Shrinking Costs: Borrow Responsibly • What do you expect to earn? • How much do you expect to borrow? • Can you afford your estimated monthly payments after college? • Student loan payments should be no more than 8-10% of your monthly income.

  18. Shrinking Costs: Credit Cards

  19. Agenda

  20. Resources: A Balancing Act Cost of Attendance Financial Resources Cost of Attendance

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

  22. Resources: 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?

  23. Resources: Community Financing What scholarships or other external funding can you find?

  24. Resources: 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

  25. 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

  26. Agenda

  27. Scenarios: On Campus COST OF ATTENDANCE: $28,043/semester (Private) *TUITION AND FEES: $21,063 STUDENT BUDGET: $6980

  28. Scenarios: Off Campus COST OF ATTENDANCE: $8175/quarter (public) *TUITION AND FEES: $3449 STUDENT BUDGET: $4726/quarter

  29. Final Message: It’s Up to You! • Where you go • How long you go • How much you work • How much you spend • Budgeting is an ongoing process • Creative ways to cut costs

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