Technical college in high schoolTake basic courses at a community college

Take AP classes and tests in High School

Avoid private schools if you can help it

Suggestions for preparing for College

Both are offered full scholarships to state universities

Both they make different choices with different financial results

Angel & Paul are merit scholars

Paul

Angel

She chooses full scholarship to a state schoolShe lives in off campus cooperative housing

@ 300/mo, including utilities & dinnersShe works 25 hours/week including work

study at the university libraryShe lives close to campus & does not need a

car or a bus or parking pass

Angel decides to try to get through undergrad school debt free

He receives only a half scholarshipHe must also pay for room & boardHe lives with 2 other guys but his share of

room and board in $900/monthHe decides not to work during the school

year ad only works part time in the summer (to make payments on his credit cards)

Paul decides he needs to go to a small expensive private university

Angel’s monthly budget

Angel earns $650/moAngel spends

$500/mo (50 + 300 + 150)

Angels saves $150/mo

At the end of they year Angel has paid for school and saved $1800

Paul earns $0.00/moPaul spends

$2691/mo (1666 + 900 + 25 + 100)

Paul saves 0.00At the end of the

year Paul has spent and borrowed over $30,000

Paul’s monthly budget

Four years later Angel had graduated dept free and has $7,200 in saving

Four years later Paul has borrowed over $120,000 in student loans & credit cards