Taking Charge (2nd ed.), Chapter 3.2
- 1. Handling Your Money Wisely Section 3.2: Financing Your Education Taking Charge: Chapter 3 © 2010 TSTC Publishing
- 2. Financing Education A typical two-year degree at a public college can exceed $20,000; at a for-profit college, this amount may be 2-3 times as much Investment in your future © 2010 TSTC Publishing
- 3. Getting Professional Assistance Professional Financial Management Money-management counselors and financial aid officers can help assist you. © 2010 TSTC Publishing
- 4. Types of Financial Aid Free Application for Federal Student Aid (FASFA) Grants Scholarships Grants and loans Work-study programs Tuition reimbursement Tax credits © 2010 TSTC Publishing
- 5. Private or Specialty Grants Non-profit organizations and various foundation offer grants to students who seek majors in something that furthers the organization’s goals Check with the school’s financial aid office © 2010 TSTC Publishing
- 6. Scholarships Public scholarships Does not require affiliation with organization to receive scholarship Private scholarships Offered by entities that require affiliation in order to qualify GPA can affect scholarships. Calculate yours using a simple formula. © 2010 TSTC Publishing
- 7. Government Financial Aid Pell grant, student loans and parent loans To qualify as independent, meet one: 24 years old Veteran Married Supporting children Ward of the court Talk to your financial aid officer about the new regulations on federal student loans © 2010 TSTC Publishing
- 8. Work Study & Tuition Reimbursement Programs Work-study Students work at on-campus jobs Bookstores Cafeterias Offices © 2010 TSTC Publishing
- 9. Tax Advantages The Hope Scholarship Tax Credit Income tax deduction for students in their first or second year of college Up to $2,500 per year (based on income) The Lifetime Learning Tax Credit Available all 4 years Maximum $2000 per year © 2010 TSTC Publishing
- 10. Further Reflection Set up a semester budget for yourself. Is it close to your current budget? How can you improve your spending throughout college? Find three scholarships you can apply for. © 2010 TSTC Publishing
- 11. Additional Resources College Answer http:// www.colegeanswer.com BrokeScholar http:// brokescholar.com FastWeb http:// fastweb.com © 2010 TSTC Publishing