Key to the Future Chapter 4, Lesson 1 Warm-Up Questions CPS Questions 1 – 2 Note for teacher: Use “Pick a Student” button in CPS

Key to the Future Lesson 1: Financing for College Lesson 2: Selecting a College Lesson 3: Navigating the Testing Maze Lesson 4: Essays, Interviews, and Campus Visits Chapter 4, Lesson 1

Key to the Future  Costs of College  Sources of College Funds  Planning to Finance a College Education Chapter 4, Lesson 1

Key to the Future How much do you think it costs to go to a college or university? Make a short list of ways you can get the money you need to attend a school of your choice. Try to cover all possible expenses, and reflecting on what you’ve learned about financial planning, separate your needs from your wants. Chapter 4, Lesson 1 Note for teacher: Use “Pick a Student” button in CPS Photo courtesy of Shutterstock

Key to the Future  Tuition  Fee for instruction  Room  Cost of a place to live  Board  Cost of Food Chapter 4, Lesson 1 Photo courtesy of Shutterstock

Key to the Future  Least expensive option for college  Includes community, junior, and technical college  Attending a two-year college, then transferring can keep costs down Photo courtesy of Shutterstock Chapter 4, Lesson 1

Key to the Future Chapter 4, Lesson 1  In-state resident  Legal resident of the state in which the college is located  Average yearly cost at a public community college = $2,963  Out-of-state students  Students who are not legal residents of the state in which the college is located  Average yearly cost at a public community college = $5,175

Key to the Future Chapter 4, Lesson 1 Photo courtesy of Shutterstock  More expensive than two-year colleges  Public University  Institution of higher learning that is operated by and receives money from the state in which it is located  Average yearly in-state resident cost at a public university = $8,244  Average yearly out-of-state student cost at a public university = $20,770

Key to the Future Chapter 4, Lesson 1 Photo courtesy of Shutterstock  Private University  Institution of higher learning that is operated by a private organization  Average yearly cost at a private university = $21,253  Charge all students the same rate

Key to the Future Chapter 4, Lesson 1 Learning Check Questions CPS Questions 3 – 4 Note for teacher: Use “Pick a Student” button in CPS

Key to the Future $ On the worksheet provided, brainstorm a list of anticipated expenses that will need to be paid for you to complete your college education. $ Be prepared to share your answers with the class. Chapter 4, Lesson 1

Key to the Future  Average undergraduate received $12,000 in 2011  Scholarships  Recipients are usually selected based on academic, athletic, or artistic merit  Grants  Recipients are usually selected based on their financial need Chapter 4, Lesson 1 Photo courtesy of Shutterstock

Key to the Future  Talk to your guidance counselor, campus career center, or go to the library  Search the Internet for scholarships  Contact the college’s financial aid office  Include your JROTC instructor if you are seeking a military awarded scholarship or academy appointment Chapter 4, Lesson 1 Photo courtesy of Shutterstock

Key to the Future  Do you meet all the requirements  If not, is there a way you can  Scholarships are very competitive  You have a 1 in 8 chance of getting a scholarship  Don’t give up if rejected  Be careful of scholarship frauds Chapter 4, Lesson 1 Photo courtesy of Shutterstock

Key to the Future Learning Check Questions CPS Questions 5 – 6 Note for teacher: Use “Pick a Student” button in CPS Chapter 4, Lesson 1

Key to the Future $ Use the Internet to research possible scholarships in which you are eligible. $ Be prepared to share your results with the class. Chapter 4, Lesson 1

Key to the Future  Pell Grant  Need based grant for students who have a documented need  Must complete the Free Application for Federal Student Aid (FAFSA)  Maximum yearly Pell grant for 2012 = $5,700  Federal Supplemental Educational Opportunity Grant (FSEOG)  Students with exceptional financial need  You can receive $100 - $4,000 a year Photo courtesy of Shutterstock Chapter 4, Lesson 1

Key to the Future  Most common US Government Loan  Subsidized  Government pays the interest while you’re in school  Unsubsidized  You pay all the interest  You can borrow up to $5,500 the first year with a maximum subsidized amount of $23,000 for four years  You can defer payments on an unsubsidized Stafford loan by capitalizing the interest  Adding the interest payments to the loan balance Chapter 4, Lesson 1

Key to the Future  Perkins Loan  Awarded to students with exceptional financial need  Parent Loan for Undergraduate Students (PLUS)  All loans require you to complete the FASFA Chapter 4, Lesson 1 Photo courtesy of Fotolia

Key to the Future  Government loans are the best deals  Private loans can be used if you still need money  Private lenders sometimes charge fees for the loan  Low interest rates during the in- school grace period may raise the rate when you graduate Chapter 4, Lesson 1 Photo courtesy of Shutterstock

Key to the Future  Federal Aid  State Aid  Federal Work-Study Program  Military Programs  College-Controlled Aid  Scholarship Lotteries Chapter 4, Lesson 1 Photo courtesy of Fotolia

Key to the Future Chapter 4, Lesson 1 Learning Check Questions CPS Questions 7 – 8 Note for teacher: Use “Pick a Student” button in CPS

Key to the Future  Using the worksheet provided, identify methods to reduce college costs.  Be prepared to share your answers with the class. Chapter 4, Lesson 1

Key to the Future  How should you start planning?  High school guidance counselor or career center  Public Library  Web  Financial Aid Offices at your preferred colleges Chapter 4, Lesson 1 Graphic courtesy of Shutterstock

Key to the Future  Complete the FASFA shortly after January 1 of your senior year  Opens the door to many sources of financial aid  Provide accurate information  Keep copies of all the application forms Chapter 4, Lesson 1 Graphic courtesy of Shutterstock

Key to the Future Chapter 4, Lesson 1 Learning Check Questions CPS Questions 9 – 10 Note for teacher: Use “Pick a Student” button in CPS

Key to the Future  Using what you have learned in this lesson, outline a plan for paying for your college education.  Be prepared to share your tips with the class. Chapter 4, Lesson 1

Key to the Future Chapter 4, Lesson 1  Costs of College  Sources of College Funds  Planning to Finance a College Education

Key to the Future Chapter 4, Lesson 1 Review Questions CPS Questions 11 – 12 Note for teacher: Use “Pick a Student” button in CPS

Key to the Future  Selecting a college Graphic courtesy of Shutterstock Chapter 4, Lesson 1