8th Grade PEPPost-Secondary & Financial Planning

Overview1. Introduce post-secondary options relevant

to career interests2. Complete Colorado Reality Check activity3. Explore college costs4. Introduce financial aid vocabulary

6 Post-Secondary Options

• http://www.youtube.com/watch?v=O4SG2i1iMBso What were the 6 different options presented in the video? o Can you think of any additional options they may have forgot?

• Complete the Education Level portion of your handout. o (Remember, you cannot go into a Master’s or Professional Degree

program directly after high school. However, because earning one of these degrees may be your long-term goal, it is included as an option.)

Go to http://www.coloradorealitycheck.com• Click 1 – Reality Check

Colorado Reality Check• Click the location where you want to live

Colorado Reality Check• Use your handout to guide you as you click

through each category and select the options you want:o Housingo Utilitieso Foodo Transportationo Clothingo Health Careo Personalo Entertainmento Miscellaneouso Savingso Student loan debt

• After each category, click next to view the next category of options.

View Your Results

1. Record the “Annual Salary Needed” on the bottom of your worksheet2. Click the arrow to find occupations that match your annual salary

Select Education & Cluster Goal

Click “Get Careers”

• Select your education goal and Career Cluster• Record your Cluster selection on your handout

Explore Career Results

Click into various careers to learn more. Record your top career results, along with salary and other information, at the bottom of your handout.

College Costs & Financial Planning

• Yes, college and career training costs money!

• However, 2 key reasons why the “price tag” should NOT stop you from getting an education

1. You will most likely receive financial aid2. It will pay off for the rest of your life

Financial Aid• Each year, billions of dollars are made available to

studentsExample$29,000 College cost (Metro Tuition w/out COF + books & fees) $6,000 Federal grants $3,000 College-based scholarship $3,000 Private scholarships & DSF $7,440 College Opportunity Fund Stipend $9,560 Student loans (w/ no interest while in school)

$0 Unmet need

Return on Investment• What’s the total value of your education after 30 years?

Gain• Yearly gain in salary: $53,300 - $32,552 = $20,748 per

year 30 years= $622,440

Loss• $32,552 you could have made - $15,000 you made

instead while working part-time in college = $17,552 4 years $70,208

• Plus, total cost to you (student loan amount)= $9,560 $79,768

Gain – Loss = $622,440 - $79,768 = $542,672 gain

High school diplomaAverage salary: $32,552

Bachelor’s degreeAverage salary: $53,300

Financial Aid Terms• Stipend funds that are applied toward college

tuition for any eligible students who attends a Colorado public or participating private institution. Students must be 13 years old to apply.

What is? ________________________________?• In order to receive any federal financial aid, a

student must complete the Free Application for Federal Student Aid, if eligible. Filling out a this form is the first step in the financial aid process. The application must be completed after January 1st each year prior to enrolling in college.

What is _________________?FAFSA

College Opportunity Fund (COF)

Options: Scholarships, Grants, Work study, FAFSA, Loans, College Opportunity Fund

Financial Aid Terms• Money awarded for education according to

financial need. This money does not have to be repaid. What is _________________?

• Money awarded for education that must be paid back with interest. What is _________________?

• Money awarded to students based on grades, talents extracurricular achievement, or financial need. Students must search out and apply for these funds. This money does not have to be repaid. What is __________________?

• Job that helps you earn money to pay for college. What is __________________?

Loans

Scholarships

Grants

Options: Scholarships, Grants, Work study, FAFSA, Loans, College Opportunity Fund

Work-study

Financial Planning NOW

• Work with a parent and/or guardians to estimate your financial aid using the FAFSA4caster.o https://fafsa.ed.gov/FAFSA/app/f4cForm?execution=e1s1

• Put away a portion of your birthday and/or work money to begin saving for college.

• Get good grades and get involved. Start a list of your awards, honors, and extracurricular activities to help you apply for scholarships.

• Apply for the College Opportunity Fund. o http://cof.college-assist.org