CFM 5-11-15. Learning Goal I can understand college loans so I’m not surprised.
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Transcript of CFM 5-11-15. Learning Goal I can understand college loans so I’m not surprised.
![Page 1: CFM 5-11-15. Learning Goal I can understand college loans so I’m not surprised.](https://reader036.fdocuments.in/reader036/viewer/2022083004/56649dc55503460f94ab8c18/html5/thumbnails/1.jpg)
CFM
5-11-15
![Page 2: CFM 5-11-15. Learning Goal I can understand college loans so I’m not surprised.](https://reader036.fdocuments.in/reader036/viewer/2022083004/56649dc55503460f94ab8c18/html5/thumbnails/2.jpg)
Learning Goal
• I can understand college loans so I’m not surprised.
![Page 3: CFM 5-11-15. Learning Goal I can understand college loans so I’m not surprised.](https://reader036.fdocuments.in/reader036/viewer/2022083004/56649dc55503460f94ab8c18/html5/thumbnails/3.jpg)
Student Loans
• Can you go to school without taking student loans?– Yes• Be awarded grants and/or scholarships as a result of
awesome grades and activities• Your parents are so rich they can pay for everything• Work full-time and attend school part-time
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Student Loans
• Can you go to school without taking student loans?– No• Grades are just average so you can only get some small
grants or scholarships• The specific college you need/want is expensive• You want to get college done with
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Fact or Fiction
• A better (more expensive) college gets you better jobs.
• Going to college will get me a higher paying job.• Going to college will make me successful• I always have to pay for college.• I’m not eligible for student loans because of what
my parents make• The average student debt is $35,000• I don’t have to pay back my student loan
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Types of student loans
• Private Loans– Depend on credit history– Colleges– Banks
• Federal Loans– No credit checks– Stafford– Perkins
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Deferred Payment
• Begin paying your student loan 6 months after you finished/left college • May be as much as 9 months with some loan.
• Returning to college after a leave?– Stop paying some loans until 6 months after you
finish the second time
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Subsidized vs. Unsubsidized Student Loans
• Subsidized– Interest on loans is not paid until you start making
payments after finishing/leaving school• Unsubsidized– Interest on loans begin when you take the loan
out
Note: principle payments don’t begin until after school.
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Ways to Reduce College Debt
• Become active in adult associations• Apply for as many scholarships/grants as possible• Live at home while in college• Part-Time Work– Work Study– Off campus work
• Watch your spending while at college• In-State colleges are cheaper than out of state
colleges• Loan Forgiveness Opportunities
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Assignment
Go to the following site and summarize the 10 points in the article with one sentence for each point.
http://ticas.org/content/posd/top-10-student-loan-tips-recent-graduates