stretching student aid revised 8/2013. agenda how financial aid worksshrinking the cost of...
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Stretching Student AidRevised 8/2013
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Agenda
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Financial Aid: Disbursement
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Agenda
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Shrinking Costs: Balancing Act
Cost of AttendanceFinancial Resources Cost of Attendance
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Shrinking Costs: Cost of Attendance
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Shrinking Costs: Cost of Attendance
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Shrinking Costs
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Shrinking Costs: Tuition and Fees
Compare Schools
Western Undergraduate
Exchange
Transfer credits
Taking more credits
Tuition reimbursement AmeriCorps
Military service Part-Time enrollment
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Shrinking Costs: Books and Supplies
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Shrinking Costs: Transportation
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Shrinking Costs: Food
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Shrinking Costs: Housing and Utilities
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Shrinking Costs: Entertainment
Student Deals• Movies• Restaurants
Clubs and School Events• Sports classes• Activity-based
clubs• Intermural
sports• Campus events
Free Events• Community
events• Community
festivals
Make Your Own!• Potlucks• Movie nights• Craft nights• Outdoor trips
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Shrinking Costs: Other
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Shrinking Costs: Other
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?
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Shrinking Costs: Borrow Responsibly
What do you expect to earn?
How much do you expect to borrow?
Can you afford your estimated monthly payments after college?
Student loan payments should be no more than 8-10% of your monthly income.
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Shrinking Costs: Credit Cards
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Agenda
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Resources: A Balancing Act
Cost of AttendanceFinancial Resources Cost of Attendance
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Resources: 3 Pots of Money
Family Financing
Community Financing
Government/ Institutional
Financing
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Resources: Family Financing
What can you and your family contribute to your college education?
Savings
Income
Investments
How many people are in your family? How many are/will be in college?
What kind of unusual expenses do you have?
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Resources: Community Financing
What scholarships or other external funding can you find?
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Resources: Scholarships
FOR
•School•Company•Organization•Individual YOU
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Money: Government/Institutional Financing
Financial Aid Grants Loans Work-Study
What funds are available to me through the federal or state government or from my college?
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Agenda
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Scenarios: On Campus
COST OF ATTENDANCE: $28,043/semester (Private)*TUITION AND FEES: $21,063
STUDENT BUDGET: $6980
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Scenarios: Off Campus
COST OF ATTENDANCE: $8175/quarter (public)*TUITION AND FEES: $3449
STUDENT BUDGET: $4726/quarter
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Final Message: It’s Up to You!
Where you go How long you go How much you work How much you spend Budgeting is an ongoing process Creative ways to cut costs
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