4.3 Investing in 4.3 Investing in EducationEducationObjectives:Objectives:Why invest in education?Why invest in education?Educational opportunities?Educational opportunities?Paying for your education?Paying for your education?Deadlines for senior year!!– take note.Deadlines for senior year!!– take note.

Why invest in Education?Why invest in Education?

Educational opportunitiesEducational opportunities

ApprenticeshipsApprenticeships: Paid training : Paid training classroom & on job experience. ie: skilled classroom & on job experience. ie: skilled trades.trades.

Armed forcesArmed forces: enlisted or officer: enlisted or officer Career technical institutionsCareer technical institutions Colleges/universitiesColleges/universities

Educational opportunitiesEducational opportunities

InternshipsInternships:: mostly unpaid short term job in a mostly unpaid short term job in a particular field. Some companies charge fee to particular field. Some companies charge fee to place you in an internship program.place you in an internship program.

““More would-be interns paying thousands More would-be interns paying thousands to land a coveted spotto land a coveted spot””

http://www.washingtonpost.com/wp-dyn/content/article/2010/08/29/AR2010082903743.htmlhttp://www.washingtonpost.com/wp-dyn/content/article/2010/08/29/AR2010082903743.html

ASVAB test--Military

Made up of nine sections in the following order: General Science (GS) Arithmetic Reasoning (AR) Word Knowledge (WK) Paragraph Comprehension (PC) Mathematics Knowledge (MK) Electronics Information (EI) Auto Shop (AS) Mechanical Comprehension (MC) Assembling Objects (AO)

***The better you do on this test the more options you will have in the U.S. Military. 

What to look for in a What to look for in a school?school?

Choosing a schoolChoosing a school

AccreditedAccredited: officially : officially recognized as recognized as maintaining standards maintaining standards that will qualify students that will qualify students for additional education for additional education in chosen fields. in chosen fields.

For profit schools may For profit schools may not have accredited not have accredited programs.programs.

Wesclin Senior College DaysWesclin Senior College Days

a pre-arranged absence, a pre-arranged absence, excusedexcused

submit signed verification submit signed verification from college visited to the from college visited to the guidance office within 3 guidance office within 3 days of their visit. days of their visit.

College Day request College Day request forms are available in the forms are available in the Guidance Office Guidance Office and and must be submitted three must be submitted three school days prior to the school days prior to the

date requesteddate requested. . 

Seniors are Seniors are allowed allowed two two college dayscollege days per per school year and school year and no college days no college days will be granted the will be granted the last two weeks of last two weeks of either semester.either semester.

How to apply?How to apply?

Many online applications.Many online applications. Check Check ““admissionsadmissions”” tab for requirements. tab for requirements. ““Prospective studentsProspective students””

What most schools look for:What most schools look for: Transcripts, GPA, class rank, ACT, SAT, Transcripts, GPA, class rank, ACT, SAT,

essay, letters of recommendation, extra essay, letters of recommendation, extra curricular activities, interview, location, curricular activities, interview, location, diversity.diversity.

  Typical Freshman Academic Typical Freshman Academic Profile* Profile*

ACT Avg. 22.7 ACT Avg. 22.7 SAT equiv. 1040SAT equiv. 1040

High School % Rank 78% in the top High School % Rank 78% in the top 50% of H.S. class 50% of H.S. class (Class rank not reliable data)(Class rank not reliable data)

What is the average What is the average student loan debt?student loan debt?

The median cumulative debt among graduating Bachelor's degree recipients at 4-year undergraduate schools was $19,999 in 2007-08.

25% borrowed $30,526 or more,

10% borrowed $44,668 or more.

Student Loan GUIDELINE:

Students should borrow no more, in total, than whatever they think their first-year salary will be once they are finished (though ideally a lot less).

A slightly more conservative approach may be to limit yourself to $31,000, the maximum amount that the government generally lets undergraduates borrow in federal loans.

Payback:Payback:

$31,000 loan ($7750 /YR) $31,000 loan ($7750 /YR) Paid over 10 yearsPaid over 10 years 6.8% interest6.8% interest

$356.75 a month $356.75 a month

for 10 years.for 10 years.

Good test scores= $$$Good test scores= $$$*Retake to attempt higher score.*Retake to attempt higher score.Example:Example:

Southeast Missouri State University Southeast Missouri State University offers the following scholarships:offers the following scholarships:  

Full scholarships (tuition, books, room and board) to Full scholarships (tuition, books, room and board) to valedictorians with a valedictorians with a 31 ACT 31 ACT or 1380 SAT, or National or 1380 SAT, or National Merit Finalists. Merit Finalists.

Full tuition to students in top 10 % of class with Full tuition to students in top 10 % of class with 27 ACT 27 ACT or 1240 SAT. or 1240 SAT.

$1,500 to 2,500 per year to students in top 20% of $1,500 to 2,500 per year to students in top 20% of class with class with 24 ACT24 ACT. .

http://www.guaranteed-scholarships.com/http://www.guaranteed-scholarships.com/

Low ACT score(s)? May have to take remedial Non-credited

courses in order to by admitted into gen. ed or core courses.(Schedule a free COMPASS test at KC- Trenton

campus)

http://www.kaskaskia.edu/pdfs/advising/cutoffscores.pdf

Costs money (KC 3 cr. hr course $357), takes longer to earn degree, non credit courses required.

RetakeRetake the the ACTACT??OCT. 25OCT. 25thth next test next test deadline to deadline to apply is Sept 19apply is Sept 19thth http://www.actstudent.org/regist/dates.html http://www.actstudent.org/regist/dates.html

Test fee per test optionTest fee per test option ACT (No Writing)ACT (No Writing) $38.00$38.00 Includes reports for you, your high school, and up to four Includes reports for you, your high school, and up to four

college choices (if valid codes are provided when you college choices (if valid codes are provided when you register).register).

ACT Plus WritingACT Plus Writing $54.50$54.50 Includes reports for you, your high school, and up to four Includes reports for you, your high school, and up to four

college choices (if valid codes are provided when you college choices (if valid codes are provided when you register). The $16.50 Writing Test fee is refundable, on written register). The $16.50 Writing Test fee is refundable, on written request, if you are absent on test day or switch to the ACT request, if you are absent on test day or switch to the ACT (No Writing) before testing begins.(No Writing) before testing begins.

Of the students who took the Of the students who took the ACT more than once:ACT more than once:

57% increased their Composite score57% increased their Composite score21% had no change in their Composite 21% had no change in their Composite scorescore22% decreased their Composite score22% decreased their Composite scoreYou determine which set of scores are sent to colleges You determine which set of scores are sent to colleges or scholarship programsor scholarship programs. Can not combine scores from . Can not combine scores from different test dates..different test dates..

Financial Aid Options:Financial Aid Options:

FAFSAFAFSA- Free Application for Financial aid.- Free Application for Financial aid.

****Apply ASAP after January 1, 2015, before ****Apply ASAP after January 1, 2015, before Feb 28, 2015Feb 28, 2015. . Awards made until funds are Awards made until funds are depleteddepleted..

Indicate which schools you want FAFSA Indicate which schools you want FAFSA information to go to.information to go to.

http://www.fafsa.ed.gov/http://www.fafsa.ed.gov/

Early in the senior year Early in the senior year fall semester:fall semester:

obtain your electronic signature obtain your electronic signature FAFSA PINs at FAFSA PINs at www.pin.ed.govwww.pin.ed.gov for the for the student student andand for for oneone of the student of the student’’s s custodial parent(s). custodial parent(s). NEED SS#.NEED SS#.

https://pin.ed.gov/PINWebApp/pinindex.jsp https://pin.ed.gov/PINWebApp/pinindex.jsp

Set up file for all college paperwork.Set up file for all college paperwork.

Winter of senior year:

Review Application Details Most regular applications are due between

January 1 and February 15. Keep copies of everything you send to colleges.

Have your high school send your transcript to colleges.

Contact colleges to make sure they've received all application materials.

Do you have an appropriate EMAIL ADDRESS with your real name??

Senior spring semester: Apply for Financial Aid You and your family should save this year's pay stubs

to estimate income on aid forms that you'll file. Submit your FAFSA as soon after January 1 as

possible. Parents must have 2014 tax returns done. Have school choices narrowed…more than 1. Need PIN ID.

Men who are 18 years of age or older must register with Selective Service to receive federal financial aid.

Many priority financial aid deadlines are in February. To get the most attractive award package, apply by the priority date. Keep copies of everything you send

Spring of Senior Year:

Review Acceptance Letters You should get acceptance letters and

financial aid offers by mid-April. Use Compare Your Aid Awards to

compare awards from different colleges. Talk to financial aid officers at your college if you have questions about the award offered.

If you haven't already, visit your final college before accepting.

MAY 1st:

Make Your Final Choice by May 1 You must tell every college of your acceptance

or rejection of offers of admission or financial aid by May 1. Send a deposit to the college you choose.

Wait-listed? If you will enroll if accepted, tell the admission officer your intent and ask how to strengthen your application. Need financial aid? Ask if funds will be available if you're accepted.

Work StudyWork Study Programs Programs

Employment Employment opportunities for opportunities for students with students with financial need. financial need.

Must have FAFSA Must have FAFSA completed to qualify.completed to qualify.

Check college Check college website for jobs. website for jobs.

Grants and scholarships:Grants and scholarships:

FREE MONEY!FREE MONEY!Does not have to be repaidDoes not have to be repaid. . * some scholarships may be taxable.* some scholarships may be taxable.

Pell GrantPell Grant

Government $ for school. $5730.00 max for Government $ for school. $5730.00 max for this school year. (this school year. (MAY increase 2015)MAY increase 2015)

Considers: familyConsiders: family’’s income, assets, size of the s income, assets, size of the family and the number of family members family and the number of family members attending college or who will attend college attending college or who will attend college during the year, cost of school, etc.during the year, cost of school, etc.

http://www.finaid.org/http://www.finaid.org/

Loans for School:Loans for School:Remember, federal student loans are Remember, federal student loans are

real loans and must be repaid.real loans and must be repaid. Stafford LoanStafford Loan: Financial Need. : Financial Need.

Begin Repay 6 months after school ends.Begin Repay 6 months after school ends.

PerkinsPerkins: awarded to undergraduate and : awarded to undergraduate and graduate students with graduate students with exceptional financial exceptional financial needneed. interest paid by the federal government . interest paid by the federal government during the in-school and 9-month grace during the in-school and 9-month grace periods. periods.

10-year repayment period 10-year repayment period

PLUS LoansPLUS Loans

ParentsParents borrow money to borrow money to cover any costs not cover any costs not already covered by the already covered by the student's financial aid student's financial aid package, up to the full package, up to the full cost of attendance. cost of attendance.

**can not have adverse **can not have adverse credit history.credit history.

Four Ways To Lose Your Four Ways To Lose Your Financial Aid for SchoolFinancial Aid for School

1)1) Not showing adequate Not showing adequate progress toward your degree progress toward your degree by taking less than a full by taking less than a full course load. course load.

2) Not maintaining at least a 2.0 2) Not maintaining at least a 2.0 GPA overall - not just in your GPA overall - not just in your major. For academic major. For academic scholarships, the standards scholarships, the standards can be even higher. can be even higher.

3) Not finishing at least 70 percent 3) Not finishing at least 70 percent of the classes you take. of the classes you take.

4) Other conditions specific to 4) Other conditions specific to your aid package. Some aid your aid package. Some aid requirements go beyond the requirements go beyond the common minimums listed common minimums listed above. above.

http://www.usnews.com/education/best-colleges/paying-for-college/slideshows/10-ways-to-save-on-college

Review Questions:Review Questions:

1) Explain 1) Explain ““ Education is an investment Education is an investment””..

2) List 4 factors to consider when 2) List 4 factors to consider when choosing education.choosing education.

3) What do you need to do to get ready?3) What do you need to do to get ready?

sourcessources

http://www.eduguide.org/library/viewarticle/2050/four-ways-to-lose-your-financial-aid-for-school /