COLLEGE KNOWLEDGE FOR JUNIORS: DAY 1

What are the major costs of attending college?

Take a few minutes to write down your thoughts . . .

COSTS TO CONSIDER

1.Tuition + Fees2. Room and Board3. Books and Supplies4. Misc. Living Expenses

WHAT ARE THE DIFFERENT TYPES OF COLLEGES?Write down the different types of colleges that you know of and provide as many examples as you can.

FOUR MAIN TYPES OF COLLEGES IN CA1.4 Community Colleges in

Sacramento2.23 California State

Universities3.10 Universities of California4.Private colleges throughout

CA and the U.S.

COMPARING COSTS OF ATTENDANCE

C O M M U N I T Y C O L L E G E

Tuition and fees ($36 per unit; full time is at least 12 units)= $900 yearly

Parking = $60 a year

Books=$600 a year

Total cost= $1,600

C A L I F O R N I A S T A T E U N I V E R S I T Y Tuition and fees=

$7,000 annually Living on

campus= $13,000 annually

Books=$600 a year

Total cost= $21,000 annually

COMPARING COSTS OF ATTENDANCE

U N I V E R S I T Y O F C A L I F O R N I A

Tuition and fees= $13,000 annually

Living on campus= $13,000 annually

Books=$600 a year

Total cost= $27,000 annually

P R I V A T E C O L L E G E S

Tuition and fees= $39,000 annually

Living on campus= $13,000 annually

Books=$600 a year

Total cost= $55,000 annually

HOW IS COLLEGE MADE MORE AFFORDABLE?

What are ways in which the government can help? What can you as students do to help lower the costs?

FINANCIAL AID Application separate from college applications: FAFSA

Parents/guardians must file taxes in order for the government to give students financial aid

Submit the application between January and March every year of college

FINANCIAL AID TERMS

Merit-based aid is money received for good grades or other qualities that stand out in a student’s application (High GPA’s and SAT/ACT scores = More Merit-based SCHOLARSHIP)

Merit-based scholarship can be found on university websites or on sites, such as Fastweb or Zinch

Need-based aid is money received because a family needs help in paying the costs of going to college

FINANCIAL AID TERMS (CONTINUED)

Cal Grant A (3.0+ GPA)

• University of California= $12,192

• California State= $5,970

• Private colleges= $9,223 CAL

Grant B (2.0 GPA)

• Pays up to $1,473

• Federal Pell Grant:

Need-based grant

Award amount is calculated by the college and is based on your SAR report.

Awarded to eligible undergraduates pursuing first baccalaureate or professional degree.

Maximum of $5,550.

FINANCIAL AID TERMS (CONTINUED)

Federal Supplemental Educational Opportunity Grant :

• Need-based

• Maximum award of $4,000 based on availability of funds at the university.

• Priority to Federal Pell Grant recipients

• Awarded to eligible undergraduates pursuing a first baccalaureate or professional degree

Summary:

Students with strong grades and financial need may be eligible to receive up to $22,000 in grants

LOANSFederal Perkins Loans (Subsidized)Need-based student loan, the college is the lender

5 % fixed interest rate, borrow up to $5,550 annuallyRe-payment begins months student falls below half-time enrollment College determines eligibility

Federal Stafford LoanLow-interest loan (3.4%) the student takes out on their own

behalf.Variable interest rate, capped at 8.25 percentRepayment begins 6 months after the student falls below half-

time enrollment.

Federal PLUS LoanParent is the borrower

WORK-STUDY• Need-based employment

program • Provides jobs on and off

campus• Students earn at least current

minimum wage• Students normally work a

maximum of 20 hrs. per week