College costs2.1BUDGETING FOR HIGHER EDUCATION

Post-Secondary Education Survey

Use the link below to complete post-secondary education information. ALL seniors should complete the survey.

Use a cell phone, computer, ipad, etc.

This will only take a minute!

https://www.surveymonkey.com/s/WVK6MXP

Website Exploration

Take some time to explore the new webpage for the counseling office.

1.Read through the events on the welcome page, check out the pictures, and notice the links for transcripts.

2.Click on the About Us link. Who is your counselor? Know her name and face!

3.Click the College/Career link and read through the timeline. We will discuss these things shortly.

4.Click the scholarships link and explore the scholarships for the different schools.

5.Click the newsletter link. Important information will be included in each newsletter. Make sure to read the newsletter!

http://www.fairdalehighschoolcounselors.com/

Timeline

We have just looked through the timeline on the counseling office webpage.

Everyone should quickly share:

1. The things on the list that you have completed?

2. What will be a priority for you?

Now discuss:

1. What are some questions you have about what you should be doing to prepare for post-secondary education? Are there any task you can add to the list?

2. Why are these things so important?

Opening Discussion What are your plans for after high school?

Do you have any idea how much it (your plans) will cost?

How do you plan to pay for college or whatever you choose?

What do you know about keeping a budget?

Do you plan to use a budget while in college or in life after high school?

Why go to College?

Complete the true/false quiz.

Advisors will share the answers after a few minutes.

Discuss as a class.

Objectives

Following today’s advisory session you will be able to: understand the costs associated with going

to college

will understand the importance of self-regulation and

will understand the components of a budget.

Discussion

How might you use a budget to help save money for college, or to manage your expenses once you are in college?

Video Link:

Moving Out

Costs of College

What are some of the costs Eddie has when he moved out on his own to go to college?

What college experiences would affect the costs of college? For example, two-year versus four-year programs; living in the dorm versus living off-campus versus living at home. Write the options on the board.

Thinking ahead . . .

Identify possible revenue streams to pay for college. (parents, student loans, etc)

Next, identify a list of basic college expenses. (tuition, room and board, cell phone, etc)

These key factors will help you when thinking about funding your college education.

College Expenses

You can estimate the recurring college expenses by reading the information published in each school’s financial aid bulletin, by talking to current and former students, and by recording your current monthly expenses that will occur while you are in school. This is just to get you thinking about paying for college and preparing in advance.

The following link will give you an example of expenses for UofL:

http://louisville.edu/admissions/aid/tuition Your Task: Complete the College Expense worksheet

(as a class, individually, or in pairs) to estimate your monthly and yearly expenses. This will help reinforce the need to search for outside

scholarships and seek financial aid (FAFSA)

Estimating Your College Budget

Many things can affect the amount of money you will need to cover your expenses while you are in college and right now you do not know about scholarship money, grants, etc.

Costs will vary considerably if you have in-state vs. out-of-state status and if you live at home, on-campus, or off-campus. The best way to plan for those expenses is to take time to develop a budget, calculate your assets, and determine how much money you will need

Calculating Estimated Budget

Add your monthly income and/or assets available.

Subtract estimated monthly expenses.

Calculate remaining funds available or amount of deficit.

If you determined there is a deficit, that amount is the amount you will have to acquire through part-time employment, student loans, scholarships, etc.

Conclusion

Article, “Reducing Your College Tuition and Other Costs”.

Discuss the article and brainstorm other ways to reduce college costs.

REMINDERS: The December ACT is on the 13th. Be on time,

take a photo ID, and your registration ticket.

You must submit transcripts through www.parchment.com! If you have applied to a school, you should request a transcript through parchment ASAP.