College Costs What you need to know about paying for a college education College Costs What you need...
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Transcript of College Costs What you need to know about paying for a college education College Costs What you need...
College Costs
What you need to know about paying for
a college education
College Costs
What you need to know about paying for
a college education
Breaking down college costs
Breaking down college costs
So… what is it exactly that I am paying for?
So… what is it exactly that I am paying for?
Breaking down college costs
Breaking down college costs
Tuition: the cost of enrollment in coursework at the college level. (ex. $2,300 per year to $45,000 per year)
Room and Board: the cost of living on campus, made up of your dorm room fee and cafeteria meal plan. (ex. $7,000 per year to $ 12,000 per year)
Fees: usually include library access, parking, identification cards, athletic facility usage, health insurance, lab supplies, activity involvement, and game admissions. (ex. $200 per year to $4,000 per year)
Books: The College Board reports the average cost for books and supplies for the 2010–2011 school year was $1,137 at public colleges and $1,181 at private colleges.
Tuition: the cost of enrollment in coursework at the college level. (ex. $2,300 per year to $45,000 per year)
Room and Board: the cost of living on campus, made up of your dorm room fee and cafeteria meal plan. (ex. $7,000 per year to $ 12,000 per year)
Fees: usually include library access, parking, identification cards, athletic facility usage, health insurance, lab supplies, activity involvement, and game admissions. (ex. $200 per year to $4,000 per year)
Books: The College Board reports the average cost for books and supplies for the 2010–2011 school year was $1,137 at public colleges and $1,181 at private colleges.
Affordability:
Reality vs.
Fantasy
Affordability:
Reality vs.
Fantasy
AffordabilityAffordability
College costs should never keep you from pursuing a college education. However…
Where you begin your education and where you complete your degree may be impacted by your individual financial situation.
College affordability is often the most important topic rarely discussed.
College costs should never keep you from pursuing a college education. However…
Where you begin your education and where you complete your degree may be impacted by your individual financial situation.
College affordability is often the most important topic rarely discussed.
AffordabilityAffordability
Questions to consider…. Will you attend Public, Private, Technical
School or start at a Community College? Will you live on campus, off campus, or at
home? Will you stay in state or go out of state?
Questions to consider…. Will you attend Public, Private, Technical
School or start at a Community College? Will you live on campus, off campus, or at
home? Will you stay in state or go out of state?
Affordability:Options,Options,
and more Options…
Affordability:Options,Options,
and more Options…
Estimated college costs
before aid is granted
Estimated college costs
before aid is granted University of Colorado-Boulder- Cost of
attendance not including books- $25,244. University of Colorado-Denver- Cost of
attendance minus Room &Board $9,708. University of Denver- Cost of attendance
not including books- $50,751. Community College of Aurora- Cost of
attendance not including books- $3,175.
University of Colorado-Boulder- Cost of attendance not including books- $25,244.
University of Colorado-Denver- Cost of attendance minus Room &Board $9,708.
University of Denver- Cost of attendance not including books- $50,751.
Community College of Aurora- Cost of attendance not including books- $3,175.
Affordability:So how do I pay for the college I’m interested
in…
Affordability:So how do I pay for the college I’m interested
in…
Itemized Breakdown (estimated) University of
Colorado-Boulder
Itemized Breakdown (estimated) University of
Colorado-Boulder $25,244 Total Bill (excluding books) per year
($100,976)
- $ 2,500 Grants/Adjustments per year ($10,000)
- $ 2,200 Work Study (Job) per year($8,800)
- $ 2,544 Student Savings (Summer) per year($10,176)
- $ 5,000 Parent Out of Pocket per year($20,000)
- $ 5,500+ Student Stafford Loans per year * ($22,000+)
- $ 7,500 Parent PLUS Loans per year ($30,000)
__________________________________________________
Based on data from National Center for Educational Statistics
* Stafford Loans Increase from $5500/$6500/$7500
$25,244 Total Bill (excluding books) per year($100,976)
- $ 2,500 Grants/Adjustments per year ($10,000)
- $ 2,200 Work Study (Job) per year($8,800)
- $ 2,544 Student Savings (Summer) per year($10,176)
- $ 5,000 Parent Out of Pocket per year($20,000)
- $ 5,500+ Student Stafford Loans per year * ($22,000+)
- $ 7,500 Parent PLUS Loans per year ($30,000)
__________________________________________________
Based on data from National Center for Educational Statistics
* Stafford Loans Increase from $5500/$6500/$7500
Let’s look at it from a different lens
Let’s look at it from a different lens
What you pay while in school:
Parent Total- $ 5,000 per year ($20,000 over 4 years)
Student Total- $ 4,744 per year ($18,744 over 4 years)
What you pay after you graduate:
Parent Total- $7,500 per year ($30,000 + interest)
Student Total- $5,500 per year ($27,000 + interest)
* For every $10,000 of loans a person typically pays $110 per month over a 10 year period (based on current rates-subject to change)
What you pay while in school:
Parent Total- $ 5,000 per year ($20,000 over 4 years)
Student Total- $ 4,744 per year ($18,744 over 4 years)
What you pay after you graduate:
Parent Total- $7,500 per year ($30,000 + interest)
Student Total- $5,500 per year ($27,000 + interest)
* For every $10,000 of loans a person typically pays $110 per month over a 10 year period (based on current rates-subject to change)
What you can do now:
FINANCIAL AID
OVERVIEW
What you can do now:
FINANCIAL AID
OVERVIEW
Financial AidFinancial AidFAFSA = Free Application for Federal Student
Aid * Never pay to submit your FAFSA!
Everyone should apply for financial aid by filling out the FAFSA in January of senior
year.
Even if you think you may not qualify it is required for work study jobs!
Financial Aid Night @ EHS on November 28th
FAFSA = Free Application for Federal Student Aid
* Never pay to submit your FAFSA!
Everyone should apply for financial aid by filling out the FAFSA in January of senior
year.
Even if you think you may not qualify it is required for work study jobs!
Financial Aid Night @ EHS on November 28th
What you can do now
What you can do now
FAFSA pin numbers (www.pin.ed.gov)
FAFSA Forecaster
Net Price Calculators (New College Tool!)
Financial Aid Calculators (check finaid.org or collegeboard.com)
College Opportunity Fund (CollegeInColorado.org)
FAFSA pin numbers (www.pin.ed.gov)
FAFSA Forecaster
Net Price Calculators (New College Tool!)
Financial Aid Calculators (check finaid.org or collegeboard.com)
College Opportunity Fund (CollegeInColorado.org)
FAFSA.ed.govFAFSA.ed.gov
FAFSA PIN Numbers
FAFSA PIN Numbers
Net Price CalculatorNet Price Calculator
Colleges are now providing Net Price Calculators to give a more accurate depiction of what you will be required to pay.
Colleges are now providing Net Price Calculators to give a more accurate depiction of what you will be required to pay.
Net Price CalculatorNet Price Calculator
Net Price CalculatorNet Price Calculator
Net Price CalculatorNet Price Calculator
Scholarships
Scholarships
Scholarship ListScholarship List
EHS Scholarship List
EHS Scholarship List
Students should start with their colleges
Pay attention to the details! Plan ahead Scholarships are a lot of work Keep applying!
Students should start with their colleges
Pay attention to the details! Plan ahead Scholarships are a lot of work Keep applying!
Scholarship Applications
Scholarships: Where to start?
Scholarships: Where to start?
Most award packages are provided directly from the college or university - especially private schools.
Students exhibiting financial need will often receive additional grant money from the United States government typically in the form of a Pell Grant.
Scholarships website are a great way to search for private based scholarships, but beware aware- you should never pay to apply for a scholarship.
Scholarships requirements typically include one of the following categories: financial need, merit recognition, or special talent or affiliation.
Most award packages are provided directly from the college or university - especially private schools.
Students exhibiting financial need will often receive additional grant money from the United States government typically in the form of a Pell Grant.
Scholarships website are a great way to search for private based scholarships, but beware aware- you should never pay to apply for a scholarship.
Scholarships requirements typically include one of the following categories: financial need, merit recognition, or special talent or affiliation.
College Opportunit
y Fund
College Opportunit
y Fund
College Opportunity Fund
College Opportunity Fund
CollegeInColorado.org
CollegeInColorado.org
• April 2012- student loan debt surpassed credit card debt for the first time in our history.• Students are considered adults when they arrive on the college campus. Parents may speak with college representatives regarding tuition payments- but little else.• A growing number of students are graduating in 6 years- as opposed to 4 years (traditional model).• Students may drop a class (or two) per semester if they choose (without parent permission) and remain a full-time student.• For some students, loan debt is not a ‘real’ concept.
• April 2012- student loan debt surpassed credit card debt for the first time in our history.• Students are considered adults when they arrive on the college campus. Parents may speak with college representatives regarding tuition payments- but little else.• A growing number of students are graduating in 6 years- as opposed to 4 years (traditional model).• Students may drop a class (or two) per semester if they choose (without parent permission) and remain a full-time student.• For some students, loan debt is not a ‘real’ concept.
Some additional thoughts
Questions?Your Senior Conference is
just around the corner.
Questions?Your Senior Conference is
just around the corner.