COLLEGE FINANCE

Will you need some type of post-high school education/training?

How will you pay for that education/training?What additional expenses will you have next

year?

See “Future Finance” worksheet. Have students fill out the worksheet

while working with a partner.

WHAT IS YOUR CAREER GOAL AND WHAT DO YOU NEED TO DO TO ACHIEVE IT?

It depends on how much you can afford and how much hard work/determination you have to remain debt free.

Do NOT accept “free credit card offers!” They may sound great, but the interest rate may start at or default to 29.9% if you make a late payment! Imagine if every time you bought something, you

had to pay 30% more than anyone else! Each late payment will cost you an additional fee,

PLUS it will negatively impact your credit. Want to buy a car, get an apartment or house, or

apply for a job? A bad credit rating may prevent you from getting any of them!

HOW DO I GO TO COLLEGE AND STAY OUT OF DEBT?

USING CREDIT CARDS WISELY (OR NOT AT ALL)

Video Length 3:56

Apply for scholarships and finish your senior year strong.

Graduate from college in four years. Only approximately 36% of students nationwide

graduate from college in four years. Consider starting at a community college and/or taking summer courses there. The cost is more affordable and will provide you with credit towards your four-year degree.

Take the maximum credit course load you can handle for the tuition price you are paying.

Save money now! How much money could you save in a year if you cut out a few expenses each week (i.e. your daily coffee, a cheaper cell phone plan, carpooling to school, eating out, etc.)?

THINGS YOU SHOULD DO:

LET’S LOOK AT EIGHT BASIC FINANCIAL TIPS

1. Organize your files. Creating a paper and/or electronic filing system will make paying your bills on time and meeting deadlines easier.

8 FINANCIAL TIPS

2. Make a budget and stick to it. A budget is just a self-imposed guideline for how much money you can spend and what you can spend it on. Life is unpredictable, so don't forget to allocate money for unexpected expenses in your budget!

8 FINANCIAL TIPS

3. Buy used books. Many students and their parents are shocked to learn how much textbooks cost. They can average $1,000 a year! Most campus bookstores sell used books that can help reduce this cost. You might also save money by buying or renting textbooks online.

8 FINANCIAL TIPS

4. Leave your car at home. Cars cost more than just gas money. Don't forget about insurance, parking permit fees (or parking tickets!) and repair expenses. Walk, use public transportation, and/or ride a bike. You may also want to arrange a carpool with friends if public transportation isn't available.

8 FINANCIAL TIPS

5. Watch the ATM fees. They can add up quickly. Look for a bank with convenient and free ATM use.

8 FINANCIAL TIPS

6. Choose the right meal plan. If you’re at college, an unlimited meal plan may be tempting, but you might also be satisfied with a less expensive plan.

If you buy a meal plan, be sure to use it! If you don’t eat on campus and instead choose to eat somewhere else, you're paying twice for your meal!

8 FINANCIAL TIPS

7. Consider all the costs of living off-campus.You may want to trade dorm life for an apartment, but you need to realize there are more costs involved. Aside from rent, at a minimum, you will have utility bills and grocery expenses. You may also need to pay rental insurance, property maintenance fees, garbage service, cable/internet service, etc. So, before you decide to move off campus, learn what other expenses you'll be responsible for, in addition to your rent.

8 FINANCIAL TIPS

8. Use student discounts to your advantage.It's common for movie theaters, concert halls, restaurants, insurance, and travel companies to offer discounts if you show your student I.D. It never hurts to ask!

8 FINANCIAL TIPS

LIVING WITHIN YOUR MEANSVideo Length 4:10

LC’s 2016 Financial Aid/FAFSA Filing and Information Event:

Thursday, January 7, from 6:00 p.m.-8:00 p.m.

All Students and Families are welcome!

College financial aid representatives will be here to answer questions, present on scholarship opportunities, and assist students and parents filing their FAFSA and/or creating FSA IDs.

Computers are available.You can also make an appointment in the Career Center if you are unable to attend this event.

DO YOU STILL NEED TO FILE YOUR FAFSA?

PIZZA PARTY!Your Senior Seminar class will win a pizza party if

your class is the first to have 100% of students file the FAFSA before February 1 st! You will also win bragging rights and a better chances of receiving more financial aid, scholarships, and awards!

DONUT PARTY!If your Seminar class just misses the grand prize,

you will still receive a donut party as your consolation prize!

Will your Seminar class win?

FAFSA COMPETITION!

You will be moving to a computer lab and have an opportunity to work on one or all of the following:Creating your FSA IDFiling your FAFSACreating a scholarship profile and searching/applying for scholarships.

NEXT WEEK IN SEMINAR