Paying for Post-secondary Education 5 and 6 by Cicely Owens https://padlet.com/cowens16/27m0e93888w4 Together we understand our options en-us 2016-11-21 00:49:41 UTC 2024-08-11 13:20:44 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Manbag.png Scholarships https://padlet.com/cowens16/27m0e93888w4/wish/139145595
  • Public and Private groups
  • Based on academic performance, scores, involvement in certain activities Example: if you play a sport, straight a student, and volunteer 
  • Also can be based on financial aid  Example: how much money your parents make
  • There are multiple websites dedicated to inform students on possible scholarships that they can obtain  Example: http://www.finaid.org/scholarships/ and http://studentaid.
    ed.gov/types/grants-scholarships/finding-scholarships.
  • Things like ROTC can help students obtain a future career in the military while paying for the student’s tuition
  • You don't have to pay the money back. Example: like when you have to pay back student loans 
  • You can get scholarships from your SAT and ACT scores Example:having the highest scores 

    • ]]>     2016-11-21 16:32:00 UTC https://padlet.com/cowens16/27m0e93888w4/wish/139145595     Grants & Work Study https://padlet.com/cowens16/27m0e93888w4/wish/139145830 grant - award given by the federal, state, or local government to a student for educational expenses
    - example: pell grant
    work study - program where students gain part-time jobs with in school in order to cover some of their education cost
    - example: on campus-job at the campus bookstore]]>     2016-11-21 16:32:46 UTC https://padlet.com/cowens16/27m0e93888w4/wish/139145830     Saving for College https://padlet.com/cowens16/27m0e93888w4/wish/139145945 ~ Total cost of attendance: Includes college tuition, and other expenses such as books, food, clothing, and housing. Ex:
    Tuition & Fees: $14,372
    Room & Board: $12,260
    Books & Supplies: $1,350
    ~ Education IRA: a saving plan for higher education. Education IRA allows parents and guardians contribute for the child that is under age 18, education cost.

    ~ A  prepayment: Family must pay tuition credits and save all of these credits for the future and the tuition will increase. An advantage for the tuition prepayment is that you could avoid the annual increase in tuition cost between now and when a child goes to college. Ex: Rutgers tuition $31,733
    ~ 529 Account: is an educational savings plan which is designed to help families set aside funds for colleges. Moreover it is more beneficial than having your money in a bank as the 529 plan isn't subject to federal taxes on education expenses such as tuition fees, books, as well as rooms. Moreover depending on the state in which where you live you may earn extra tax benefits. Anyone can set up a 529 Account and can name anyone as their beneficiary.]]>     2016-11-21 16:33:07 UTC https://padlet.com/cowens16/27m0e93888w4/wish/139145945     Financial Aid Basics https://padlet.com/cowens16/27m0e93888w4/wish/139149878 Financial aid: Grant or scholarship, loans or paid employment offered to help a student reach their college expenses

    FAFSA: (Free Application for Federal Aid) A form that must be completed to qualify for governmental financial aid for higher education. 

    • Needed in order to receive any form of financial help in college 
    • Over 150 billion dollars are granted to over 15 million students per year

    EFC: (Estimated Family Contribution) The amount of money that a student’s family is expected to contribute to college costs for one year.

    Work study: packages. Part-time
    jobs are provided for students at the school, at a public agency, or at a not-for-profit organization. Students are paid the federal minimum wage for the hours 
    worked, and this money is paid directly to the student. These funds can be used to pay for college tuition or living expenses.

    Money that can help you pay for college

    • Four main sources
    • Federal Government
    • State Government
    • Colleges & Government
    • Private Organization
    • You get access to 
    • Grants & Scholarships: money you don’t have to pay back
    • Work-study jobs: paid, part-time work that’s generally on campus
    • Loans: money you need to pay back, usually after you graduate




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