Revised 82013 Agenda College Costs Education Pays Postsecondary education creates more job stability 83 77 68 62 45 College Costs Education Pays Postsecondary degrees lead to greater weekly earnings ID: 362037
Download Presentation The PPT/PDF document "Paying for College" is the property of its rightful owner. Permission is granted to download and print the materials on this web site for personal, non-commercial use only, and to display it on your personal computer provided you do not modify the materials and that you retain all copyright notices contained in the materials. By downloading content from our website, you accept the terms of this agreement.
Slide1
Paying for College
Revised
8/2013Slide2
AgendaSlide3
College Costs: Education Pays
Postsecondary education creates more job stability
8.3
7.7
6.8
6.2
4.5Slide4
College
Costs: Education Pays
Postsecondary degrees lead to greater weekly earnings
Source: Bureau of Labor Statistics, Current Population Survey, 2013.Slide5
College CostsSlide6
College Costs: Terms
Cost of Attendance/Budget
: what the college estimates an academic year of school should cost for the average student.Slide7
College Costs: Cost of Attendance
?Slide8
College Costs: 4-year Public Schools
University of Washington
Washington
State University
Evergreen State University
Eastern Washington University
Tuition & Fees
$12,383
$12,326
$8,709
$8,124
Books
$1,206
$960
$1,026
$1,050
Room/Board$10,752
$10,868$9,492
$9,996
Transportation
$414
$1,434
$1,296
$1,500
Other
$2,265
$2,108
$1,794
$2,100
Total
$27,587
$27,696
$22,317
$22,770Slide9
College Costs: 4-year Private Schools
Whitworth University
Seattle Pacific University
Seattle University
Reed College
Concordia University
Tuition & Fees
$36,012
$33,813
$36,465
$45,810
$27,418
Books
$687
$1,026
$1,485
$950
$900Room/Board
$9,814
$9,867
$10,545
$11,770
$8,030
Transportation
$681
$1,032
$1,710
$1000
$1,000
Other
$861
$1,936
$2,400
$900
$1,674
Total
$48,055$47,674
$52,605$60,430$39,022Slide10
College Costs: 2-year and Vocational Schools
North Seattle Community College
Columbia Gorge Community College
Northwest School
of Wooden Boats
Beau Monde College of Hair Design
Tuition & Fees
$4,458
$3,636
$17,400
$24,165
Books
$1,026
$1,500
$1,500
$835
Room/Board
$9,492
$8,631
$11,280
$14,004
Transportation
$1,572
$2,295
$2,272
Other
$1,932
$1,500
$3,136
$4,000
Total
$18,480
$17,562
$35,588
$43,004Slide11
College Costs: Other Costs
How long will it take to graduate?
What will my job prospects be like once I graduate?
What will my earning potential be once I graduate?
What can I do to lower the cost of attendance?
What kind of financial aid can I get?Slide12
AgendaSlide13
Money: Financial Aid
Paying for College
Family Financing
=Slide14
Money: Financial Aid Hierarchy
Low/No
Low
High
High
COST
AVAILABILITY
Gift Aid: Grants
*Need-based
*Available to everyone
*On financial aid award letterSlide15
Money: Scholarships and GrantsSlide16
Money: Scholarships
FROM
TO
FOR
School
Company
Organization
Individual
YOU
Academics
Athletics
Community involvement
Leadership
Interests
Hobbies
Demographic
Field of Study
Family heritage
Income
School choice
Where you live
Where you’re from
Contest
Raffle
Essay
Portfolio
Affiliation
Beliefs and passions
Participation
Extra-Curricular
Skill
BirthdaySlide17
Money: Work StudySlide18
Money: Federal LoansSlide19
FEDERAL LOANS
LOAN
Interest rate
Grace period
Maximum award
Availability
Perkins*
5% fixed
Gov’t
pays interest while in school & during grace period
9 month
s after discontinuing school or below ½-time
$5,500/year for undergraduate students
$8,000/year
for graduate students
need-basednot every school participates
Subsidized (direct) Stafford*
3.86% (Undergrad)Gov’t
pays interest while in school
6 months after
discontinuing school or below ½-time
$3,500-1
st
year
$4,500-2
nd
year
$5,500-3
rd
year +
More allowed for independent students
need-based
Unsubsidized (direct) Stafford*
3.86% (Undergrad)5.41%(Graduate)
6 months after discontinuing school or below ½-time
$5,500-1st year$6,500-2
nd year$7,500-3rd year+
*in combination w/ subsidized*
More allowed for independent students and graduate studentsnon-need-based
PLUS6.41%None
Gap*non-need-based*parents or graduate students
*Limited loan forgiveness & deferment programs availableSlide20
Money: Private Loans
Variable interest rates
Large loans sometimes required to access lower interest rates
More fees
Risky grace periods
Lack the options of government loans: repayment, deferment, forbearance, forgiveness, consolidation
Exhaust federal loan options first. Only take out private loans as a small, short-term option.Slide21
Money: Other Options
Transferring from community college
Western Undergraduate Exchange (www.wiche.edu)
Deferring
Part-Time Enrollment
Working
Budgeting
HOPE & Lifetime Learning tax credits
Individual Development Accounts (www.cfed.org)
Government Programs
Peace Corps
Americorps
Military ServiceSlide22
AgendaSlide23
Getting It: Financial Aid
Paying for College
Family Financing
=Slide24
Getting It: Scholarships
TheWashBoard.org
Studentaid.ed.gov
Finaid.org
Scholarships360.org
ScholarshipJunkies.com
Collegeboard.com
Scholarships.com
Petersons.com
Zinch.com
ScholarshipExperts.com
Fastweb.comSlide25
Intro to the FAFSASlide26
AidSlide27
Review: Resources
Your College Financial Aid Office!!!
Financial aid information:
www.finaid.org
Free Application for Federal Student Aid:
www.fafsa.gov
Federal student aid:
www.studentaid.gov
College Bound:
http://
www.wsac.wa.gov/PreparingForCollege/CollegeBound
College Affordability and Transparency Center:
www.collegecost.ed.govSlide28