1. The Importance of College for Income

2. Consider the following 1. Some jobs pay every week, while some pay every other week, or ________ 2. Although my ________ is almost $2,000, after taxes and other deductions, my ______ is just over $1,100 3. Anytime I put over _____ hours a week the company will pay me time-and-a-half. 4. I would prefer to receive an annual salary instead of an_________ 5. My _______ level is approximately 25% of my ________

3. Consider the following 1. Some jobs pay every week, while some pay every other week, or bi-weekly 2. Although my gross pay is almost $2,000, after taxes and other deductions, my net pay is just over $1,100 3. Anytime I put over 40 hours a week the company will pay me time-and-a-half. 4. I would prefer to receive an annual salary instead of an hourly wage 5. My income tax level is approximately 25% of my annual income

4. An Investment in Education

5. You Practice….

6. How Can You Afford College? Grants and scholarships Loans Work-study programs But what is financial need?

7. Financial Need and EFC Financial need is based on the results of a federal gov’t formula known as EFC = Estimated Family Contribution This formula takes into account family income and assets (what is an asset you say?), family size, number of household members already in college, age of parents,and special circumstances such as medical or employment problems. College cost minus EFC equals your financial need This means you will have more “need” at a more expensive college, and because so much financial aid is based on need, you may be able to receive more aid at that college

8. Financial Need and EFC