Financing Postsecondary Education

6th GradePostsecondary Costs #3

Pre-Test

1. What are two common ways students pay for college?

2. What are the major types of financial aid?

3. Where can you find scholarships on Naviance?

Objectives

• Review Last Week’s Lesson• Common Ways to Pay for College– Paying Colleges Directly– Financial Aid

• Types of Scholarships• Explore and Identify Scholarships of Interest• Update Postsecondary Plan

Review Last Week’s Lesson

1. Short-term spending on a postsecondary degree leads to

– Long-term benefits2. Main types of college costs– Tuition/Costs, Room/Board, Supplies, Personal

Expenses, Transportation3. How much does it approximately cost to attain a

Master’s degree?– $90,000

Common Ways: Pay for College

• Paying Colleges Directly • Savings• Family Contribution

• Financial Aid• Grants• Scholarships• Work Study• Loans

Paying Colleges Directly

1. Savings• Many students save money by• Working jobs during the school year and summer• Putting gifts of money in the bank

2. Family Contribution • Family pays an amount per year to help their

child• Families often save money for their child’s college

education

Financial Aid

1. Grants• Money does not have to be repaid• Mostly comes from state and federal government

2. Scholarships• Money does not have to be repaid• Mostly comes from private sector and colleges

3. Work Study• Students work at college goes toward tuition

4. Loans• Low interest loans for students

Types of Scholarships

• Many students qualify for different types1. High academics2. Special talents• Sports • Music

3. Religious affiliation4. Foundations• Women in Science

5. Cultural background

Naviance: Colleges Tab

Naviance Scholarships List

Art Institute Scholarships

Art Institute Scholarships Website

Naviance Scholarships List

LEDC Latino Scholarships

Update Postsecondary Plan

Explore Scholarships

• Click on the • colleges tab• scholarship list

• Explore Scholarships of Interest • Click on scholarship list• Visit scholarship website

• Update Postsecondary Plan

Classroom Discussion

• What are three scholarships of interest?• How much money is each scholarship

for?• How would you qualify for these

scholarships?

Post-Test

1. What are two common ways students pay for college?

2. What are the major types of financial aid?

3. Where can you find scholarships on Naviance?

Review

1. Two common ways students pay for college– Pay colleges directly– Financial aid

2. Major types of financial aid– Grants, scholarships, work-study, loans

3. Find scholarships on Naviance– Scholarship list page