Student loan crisis; how to finance your education

1. Drowning in Debt
By: Lindsey Tillman

2. “The direction in which education starts a man
will determine his future in life.” ~ Plato

3. DID YOU KNOW

4. 7 out of 10
students will
graduate
from high school.

5. 68% of those graduates
will enroll into college.

6. DID YOU KNOW

7. On average, a person with a college
degree will earn over a million more
dollars in their lifetime than a person
without one.

8. A person with a
Master’s degree earns
$31,900 more per
year than a high school
graduate.

9. That’s an increase ofover 100%.
Master’s Degree
$62,300
High School
Diploma
$30,400

11. ….but, how much does it
cost to get?

12. In
2011, tuition
at a four year
university
ranged from
$9,000 –
$36,000 per
year.

13. In the last five years, the cost of tuition
has risen over 15%.

14. If tuition continues to increase at this
rate, by 2046 tuition could be as much
$95,716 per year.
$95,716
$83,268
$72,407
$62,963
$54,751
$47,610
2021 2026 2031 2036 2041 2046

15. Could you pay your
child’s tuition?

17. The average 2010
graduate has $25,000 of
student debt.

18. The current student loan debt in
the united states is
$956,767,987.

19. The Northeast has the highest average debt:
$26,255

20. Followed by the Midwest
22,449
$26,255

21. The South has only
$22,449
$26,255
$21,824

22. The West has the lowest average student debt
$22,449
$26,255
$20,006
$21,824

23. $83,268
1 out of 5 college
$83,268
$83,268
$83,268
$83,268
graduates are currently
unemployed

24. Entry level job salaries
$83,268
$83,268
$83,268
$83,268
for graduates have $83,268
decreased by 10% in the
last five years.

25. What does this mean?

26. $83,268
Students are having to
$83,268
$83,268
$83,268
$83,268
borrow more money for
their education, BUT…..

27. $83,268
CAN’T PAY IT
$83,268
$83,268
$83,268
$83,268
BACK!

28. This is Amy.
$83,268
$83,268
$83,268
$83,268
$83,268

29. She graduated with
a Bachelor's in
Music Therapy.
$83,268
$83,268
$83,268
$83,268
$83,268

30. She has $125,000
of student debt.
$83,268
$83,268
$83,268
$83,268
$83,268

31. She makes$32,000
a year.
$83,268
$83,268
$83,268
$83,268
$83,268

32. BARELY enough to
cover her student
loans.
$83,268
$83,268
$83,268
$83,268
$83,268

33. Her monthly
income is $1,978.
$83,268
$83,268
$83,268
$83,268
$83,268

34. But her student
loan payment is
$903.36 a month.
$83,268
$83,268
$83,268
$83,268
$83,268

35. FOR 20
YEARS!

36. How can you make sure you’re
not in the same situation?

37. Financing your Future
Choose
the right
major

38. Financing your Future
Choose Borrow
the right what you
major can pay

39. Financing your Future
Choose Borrow Save
the right what you money
major can pay

40. Financing your Future
Choose Make sure your
the right paying for a degree
major that will get you a job.

41. Top 10 “Worthless” Majors:
1. Religion
Choose 2. Film
the right 3. Latin
major 4. English Literature
5. Dance
6. Communications
7. Music Therapy
8. American Studies
9. Philosophy
10. Art History

42. Top 10 Majors for 2012:
1. Chemical Engineering
Choose 2. Computer Engineering
the right 3. Electrical Engineering
major 4. Mechanical Engineering
5. Computer Science
6. Accounting
7. Economics/Finance
8. Civil Engineering
9. Business Administration
10. Marketing

43. Financing your Future
Borrow Don’t take out
what you $150,000 for a degree
can pay that will only make
you $30,000 a year.

44. Financing your Future
Borrow No more than 10%
what you of your gross
can pay monthly income
should be devoted
to repaying your
student loans.

45. Financing your Future
Save
Save your money
money ahead of time for
college, so that you
don’t have to borrow.

46. Financing your Future
By borrowing $10,000
Save less, on a $30,000
money
loan will save you
$4,559 in interest over
ten years.

47. Financing your Future
Make sure to apply for
Save financial
money
aid, scholarships, and
grants to help you pay
for college.

48. What are the steps for
financial planning?

49. CollegeBoard’s Easy Financial Planning
1
Step
Find out what college will
cost. Be sure to include
the cost of living.

50. CollegeBoard’s Easy Financial Planning
1 2
Step Step
Use a college calculator to see if you
are saving enough. One can be found
at collegeboard.org.

51. CollegeBoard’s Easy Financial Planning
1 2
Step Step
Step
3
Step
Estimate what you can
afford to pay for college.

52. CollegeBoard’s Easy Financial Planning
1 2
Step Step
Step
3
Step
4
Step
Search for scholarships and
grants. These are the best
types of aid since they don’t
have to be paid back.

53. CollegeBoard’s Easy Financial Planning
1 2
Step Step
Step
3
Step
4
5 Step
Step
Apply for financial aid.

54. CollegeBoard’s Easy Financial Planning
1 2
Step Step
Step
3
Step
4
5 Step
Step
6
Step
Each college gives aid differently. Compare
your aid awards at your top choices

55. CollegeBoard’s Easy Financial Planning
1 2
Step Step
Step
3
Step
4
5 Step
Step
If you still need additional money for
school, research loans that would need
6 to be taken out.
Step
7
Step

57. References
GALLEGOS, S. AND G. WRIGHT. (2011, SEPTEMBER, 12). SHARP UPTICK IN FEDERAL STUDENT LOAN DEFAULT RATES. THE
PROJECT ON STUDENT DEBT.RETREEVED ON NOVEMBER 14, 2011, FROM HTTP://PROJECTONSTUDENTDEBT.ORG/
(2011). COLLEGEBOARD INSPIRING MINDS. RETRIEVED NOVEMBER 15, 2011 FROM, HTTP://WWW.COLLEGEBOARD.ORG/
(2011). STUDENT LOAN DEBT CLOCK. FINAID. RETRIEVED NOVEMBER 14, 2011, FROM
HTTP://WWW.FINAID.ORG/LOANS/STUDENTLOANDEBTCLOCK.PHTML
(2011, MAY 16) COLLEGE STUDENT DEBT GROWS. IS IT WORTH IT?. NPR. RETRIEVED NOVEMBER 10, 2011 FROM,
HTTP://WWW.NPR.ORG/2011/05/16/136214779/COLLEGE-STUDENT-DEBT-GROWS-IS-IT-WORTH-IT

58. Image References
akaRogersPhotography, “Graduate of 2011” July 9, 2011 VIA FLICKR, CREATIVE COMMONS ATTRIBUTION.
ANSTALT, “ALARM” OCTOBER 23, 2010 VIA FLICKR, CREATIVE COMMONS ATTRIBUTION.
DGILDER, “Blank Sign - Caucasian businessman holding empty placard” MAY 8, 2010 VIA FLICK CREATIVE COMMONS ATTRIBUTION.
DGILDER, “COLLEGE GRADUATE – EXCITED HAPPY STUDENT” MAY 8, 2010 VIA FLICKR, CREATIVE COMMONS ATTRIBUTION.
EVE LIVESEY, “MONEY TREE” OCTOBER 24, 2008 VIA FLICKR, CREATIVE COMMONS ATTRIBUTION
GOODIMAGES, “ACADEMIC GRADUATE STUDIO PORTRAIT” AUGUST 26, 2004 VIA FLICKR, CREATIVE COMMONS ATTRIBUTION.
IMAGES_OF_MONEY, “MONEY DOESN’T GROWN IN POTS” JUNE 20, 2011 VIA FLICKR, CREATIVE COMMONS ATTRIBUTION
MZM-PHOTO, “HAPPY MALE GRADUATE”MAY 7, 2010 VIA FLICKR, CREATIVE COMMONS ATTRIBUTION.
NICOLE GOES TO SCHOOL, “MAP-ATTEMPT-THREE” NOVEMBER 20, 2008 , VIA FLICKR, CREATIVE COMMONS ATTRIBUTION.
ONLY HOT TOPICS, “MONEY 18” JULY 5, VIA FLICKR, CREATIVE COMMONS ATTRIBUTION.
ONLY HOT TOPICS, “MONEY FAN” JULY 5, VIA FLICKR, CREATIVE COMMONS ATTRIBUTION.
PFALA, “WHERE IS GOING THE STOCK MARKERT????” DECEMBER 15, 2008 VIA FLICKR, CREATIVE COMMONS ATTRIBUTION.
SOLAND, “STACK OF METAL MONEY” OCTOBER 13, 2009 VIA FLICKR, CREATIVE COMMONS ATTRIBUTION.
Xianrendujia, “College Graduates” October 30, 2011 VIA FLICKR, CREATIVE COMMONS ATTRIBUTION.
WENG, “GRADUATION HAT TOSS” FEBRUARY 7, 2009 VIA FLICKR, CREATIVE COMMONS ATTRIBUTION.