Calculating Financial Aid Middle School Financial Literacy #3.
Transcript of Calculating Financial Aid Middle School Financial Literacy #3.
![Page 1: Calculating Financial Aid Middle School Financial Literacy #3.](https://reader035.fdocuments.in/reader035/viewer/2022070408/56649e5c5503460f94b53f97/html5/thumbnails/1.jpg)
Calculating Financial Aid
Middle SchoolFinancial Literacy #3
![Page 2: Calculating Financial Aid Middle School Financial Literacy #3.](https://reader035.fdocuments.in/reader035/viewer/2022070408/56649e5c5503460f94b53f97/html5/thumbnails/2.jpg)
Pre-Test
1. What is the average annual cost of college?2. What website tool estimates
postsecondary financial aid?3. Name two types of financial aid that
students do not have to pay back.
![Page 3: Calculating Financial Aid Middle School Financial Literacy #3.](https://reader035.fdocuments.in/reader035/viewer/2022070408/56649e5c5503460f94b53f97/html5/thumbnails/3.jpg)
Objectives
• Review Last Week’s Lesson• Estimate College Expenses – FAFSA4caster
• Update Postsecondary Plan
![Page 4: Calculating Financial Aid Middle School Financial Literacy #3.](https://reader035.fdocuments.in/reader035/viewer/2022070408/56649e5c5503460f94b53f97/html5/thumbnails/4.jpg)
Review Last Week’s Lesson
1. Financial aid helps pay for – College
2. Major types of financial aid– Grants, scholarships, work-study, loans
3. Scholarship website– College.Scholarships.Org
![Page 5: Calculating Financial Aid Middle School Financial Literacy #3.](https://reader035.fdocuments.in/reader035/viewer/2022070408/56649e5c5503460f94b53f97/html5/thumbnails/5.jpg)
FAFSA Video
• Form to fill out in 12th grade– Helps students learn amount of financial aid
![Page 6: Calculating Financial Aid Middle School Financial Literacy #3.](https://reader035.fdocuments.in/reader035/viewer/2022070408/56649e5c5503460f94b53f97/html5/thumbnails/6.jpg)
FAFSA4caster
• Estimates the amount of financial aid• Need estimate amount of parents’ income• National Average Salary ($42,000)– Store Clerk: $23,000– Cook: $28,000– Teacher: $45,000– Chef: $49,000– Doctor: $115,000
![Page 7: Calculating Financial Aid Middle School Financial Literacy #3.](https://reader035.fdocuments.in/reader035/viewer/2022070408/56649e5c5503460f94b53f97/html5/thumbnails/7.jpg)
Google: fafsa4caster
![Page 8: Calculating Financial Aid Middle School Financial Literacy #3.](https://reader035.fdocuments.in/reader035/viewer/2022070408/56649e5c5503460f94b53f97/html5/thumbnails/8.jpg)
Sample Student Selections
![Page 9: Calculating Financial Aid Middle School Financial Literacy #3.](https://reader035.fdocuments.in/reader035/viewer/2022070408/56649e5c5503460f94b53f97/html5/thumbnails/9.jpg)
Sample Student Selections
![Page 10: Calculating Financial Aid Middle School Financial Literacy #3.](https://reader035.fdocuments.in/reader035/viewer/2022070408/56649e5c5503460f94b53f97/html5/thumbnails/10.jpg)
Sample Student Selections
![Page 11: Calculating Financial Aid Middle School Financial Literacy #3.](https://reader035.fdocuments.in/reader035/viewer/2022070408/56649e5c5503460f94b53f97/html5/thumbnails/11.jpg)
Sample Student Selections
![Page 12: Calculating Financial Aid Middle School Financial Literacy #3.](https://reader035.fdocuments.in/reader035/viewer/2022070408/56649e5c5503460f94b53f97/html5/thumbnails/12.jpg)
Sample Student Selections
![Page 13: Calculating Financial Aid Middle School Financial Literacy #3.](https://reader035.fdocuments.in/reader035/viewer/2022070408/56649e5c5503460f94b53f97/html5/thumbnails/13.jpg)
Sample Student Selections
![Page 14: Calculating Financial Aid Middle School Financial Literacy #3.](https://reader035.fdocuments.in/reader035/viewer/2022070408/56649e5c5503460f94b53f97/html5/thumbnails/14.jpg)
Sample Student Selections
![Page 15: Calculating Financial Aid Middle School Financial Literacy #3.](https://reader035.fdocuments.in/reader035/viewer/2022070408/56649e5c5503460f94b53f97/html5/thumbnails/15.jpg)
Financial Aid Estimator
![Page 16: Calculating Financial Aid Middle School Financial Literacy #3.](https://reader035.fdocuments.in/reader035/viewer/2022070408/56649e5c5503460f94b53f97/html5/thumbnails/16.jpg)
Estimated Amount of Financial Aid
![Page 17: Calculating Financial Aid Middle School Financial Literacy #3.](https://reader035.fdocuments.in/reader035/viewer/2022070408/56649e5c5503460f94b53f97/html5/thumbnails/17.jpg)
Sample Student Financial Aid Estimate
• Cost for 1st Year: $15,000Financial Aid • Grants: $8,300• Scholarships: $3,000• Work Study: $1,465 • $12,765 ($2,235 amount still owed)
![Page 18: Calculating Financial Aid Middle School Financial Literacy #3.](https://reader035.fdocuments.in/reader035/viewer/2022070408/56649e5c5503460f94b53f97/html5/thumbnails/18.jpg)
Paying for Amount Still Owed
• Amount Still Owed: $2,235Payment• Loans: $1,235• Parent Contribution: $0• Savings : $0• Student Contribution: $1,000
![Page 19: Calculating Financial Aid Middle School Financial Literacy #3.](https://reader035.fdocuments.in/reader035/viewer/2022070408/56649e5c5503460f94b53f97/html5/thumbnails/19.jpg)
Update Postsecondary Plan
![Page 20: Calculating Financial Aid Middle School Financial Literacy #3.](https://reader035.fdocuments.in/reader035/viewer/2022070408/56649e5c5503460f94b53f97/html5/thumbnails/20.jpg)
Find Costs & Financial Aid Info
• Estimate your financial aid • Complete Postsecondary Plan – Financial Readiness Plan
![Page 21: Calculating Financial Aid Middle School Financial Literacy #3.](https://reader035.fdocuments.in/reader035/viewer/2022070408/56649e5c5503460f94b53f97/html5/thumbnails/21.jpg)
Classroom Discussion
• What did you learn from the FAFSA4caster?• Name how students cover college expenses• Grants, Scholarships, Work Study, Parent
contributions, Loans, Student Contribution
![Page 22: Calculating Financial Aid Middle School Financial Literacy #3.](https://reader035.fdocuments.in/reader035/viewer/2022070408/56649e5c5503460f94b53f97/html5/thumbnails/22.jpg)
Post-Test
1. What is the average annual cost of college?2. What website tool estimates
postsecondary financial aid?3. Name two types of financial aid that
students do not have to pay back.
![Page 23: Calculating Financial Aid Middle School Financial Literacy #3.](https://reader035.fdocuments.in/reader035/viewer/2022070408/56649e5c5503460f94b53f97/html5/thumbnails/23.jpg)
Review
1. Average annual cost of college– $15,000
2. Website tool that estimates postsecondary financial aid
– FAFSA4caster
3. Types of financial aid that students do not have to pay back
– Grants, Scholarships, Work Study