th
8
Grade PEP
Post-Secondary &
Financial Planning
Overview
1. Introduce post-secondary options relevant
to career interests
2. Complete Colorado Reality Check activity
3. Explore college costs
4. Introduce financial aid vocabulary
6 Post-Secondary Options
• http://www.youtube.com/watch?v=O4SG2i1iMBs
o What were the 6 different options presented in the video?
o Can you think of any additional options they may have forgot?
• Complete the Education Level portion of your
handout.
o (Remember, you cannot go into a Master’s or Professional Degree
program directly after high school. However, because earning one of
these degrees may be your long-term goal, it is included as an option.)
Go To
http://www.texasrealitycheck.com/
Pick Austin as the city (compares most closely to Denver)
• Click 1 – Reality Check
Colorado Reality Check
• Use your handout to guide you as you click through
each category and select the options you want:
o
o
o
o
o
o
o
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Housing
Utilities
Food
Transportation
Clothing
Health Care
Personal
Entertainment
Miscellaneous
Savings
Student loan debt
• After each category, click next
the next category of options.
to view
View Your Results
1. Record the “Annual Salary Needed” on the bottom of your worksheet
2. Click the arrow to find occupations that match your annual salary
Select Education & Cluster Goal
• Select your education goal and Career Cluster
• Record your Cluster selection on your handout
Click “Get Careers”
Explore Career Results
Click into various careers to learn more. Record your top career results,
along with salary and other information, at the bottom of your handout.
College Costs &
Financial Planning
• Yes, college and career training costs money!
• However, 2 key reasons why the “price tag” should
NOT stop you from getting an education
1. You will most likely receive financial aid
2. It will pay off for the rest of your life
Financial Aid
• Each year, billions of dollars are made available to
students
Example
$29,000
College cost (Metro Tuition w/out COF + books & fees)
$6,000
Federal grants
$3,000
College-based scholarship
$3,000
Private scholarships & DSF
$7,440
College Opportunity Fund Stipend
$9,560
Student loans (w/ no interest while in school)
$0
Unmet need
Return on Investment
• What’s the total value of your education after 30 years?
High school diploma
Average salary: $32,552
Bachelor’s degree
Average salary: $53,300
Gain
• Yearly gain in salary: $53,300 - $32,552 = $20,748 per year
30 years
= $622,440
Loss
• $32,552 you could have made - $15,000 you made
instead while working part-time in college = $17,552
4 years
$70,208
• Plus, total cost to you (student loan amount)= $9,560
$79,768
Gain – Loss = $622,440 - $79,768 = $542,672 gain
Options: Scholarships, Grants, Work study, FAFSA, Loans, College Opportunity Fund
Financial Aid Terms
• Stipend funds that are applied toward college
tuition for any eligible students who attends a
Colorado public or participating private institution.
Students must be 13 years old to apply.
College Opportunity Fund (COF)
What is? ________________________________?
• In order to receive any federal financial aid, a
student must complete the Free Application for
Federal Student Aid, if eligible. Filling out a this form
is the first step in the financial aid process. The
application must be completed after January 1st
each year prior to enrolling in college.
FAFSA
What is _________________?
Options: Scholarships, Grants, Work study, FAFSA, Loans, College Opportunity Fund
Financial Aid Terms
• Money awarded for education according to
financial need. This money does not have to be
Grants
repaid. What is _________________?
• Money awarded for education that must be paid
Loans
back with interest. What is _________________?
• Money awarded to students based on grades,
talents extracurricular achievement, or financial
need. Students must search out and apply for these
funds. This money does not have to be repaid. What
Scholarships
is __________________?
• Job that helps you earn money to pay for college.
Work-study
What is __________________?
Financial Planning NOW
• Work with a parent and/or guardians to estimate
your financial aid using the FAFSA4caster.
o https://fafsa.ed.gov/FAFSA/app/f4cForm?execution=e1s1
• Put away a portion of your birthday and/or work
money to begin saving for college.
• Get good grades and get involved. Start a list of
your awards, honors, and extracurricular activities to
help you apply for scholarships.
• Apply for the College Opportunity Fund.
o http://cof.college-assist.org