This document provides an overview of personal finance topics for students including types of student loans, interest rates, grants, and techniques for avoiding and managing debt. It discusses federal student loan options like Stafford, PLUS, and Perkins loans, the differences between them including maximum amounts, interest rates, and repayment timelines. It also covers fixed versus variable interest rates, the definition of grants and different types, and recommendations for creating a budget and emergency fund to avoid taking on unnecessary debt. Resources for additional information on these topics are provided.
This document discusses personal finance planning and management. It begins by defining personal finance planning and outlining its objectives. It then describes the key steps in personal finance planning, which include assessing one's current financial position, determining goals, establishing sources of income and expenditures, and developing strategies. The document emphasizes the importance of planning and the consequences of not planning one's finances. It provides examples of assets, liabilities, income sources and expenditures to consider.
This document discusses personal financial management among students. It aims to raise awareness of the value of money through a project targeting architecture and design students. The group conducted research including questionnaires, interviews, and polls to understand students' spending habits and income sources. Most students reported receiving money from their parents as their primary income. The research found that excessive spending without financial management can lead to debt, loans, and financial problems in the future. The document introduces the project and outlines the objectives, target groups, research methodology, and tools used to analyze spending patterns and identify solutions to reckless extravagance.
This document discusses managing a family budget. It defines a family budget as a list of planned expenditures for a given time period and income amount. The document outlines the key components of a family budget, including food, shelter, education, health needs, clothing, transportation, and social/recreational needs. It also discusses factors like priorities and types of spending that should be considered when preparing a budget. The overall goal of a budget is to balance income and expenses in order to spend money wisely and save for future needs.
Best financial planning practices for teenagersCalvin Lee
Teenagers should practice financial planning by budgeting their money, distinguishing between needs and wants, and considering all costs before purchasing expensive items. They can start building wealth by creating an emergency fund of 6-12 months' expenses, purchasing insurance policies, and saving for education. Over time, teens can accumulate more wealth by investing small amounts in stocks and shares while continuing to add to their savings accounts. Financial planning helps teens achieve financial goals.
This document discusses ways to leave a legacy donation to the Society of Women Engineers (SWE) through planned giving. It describes how SWE members Virginia Counts and Betty Irish established the Virginia Counts and Betty Irish "SWE for Life" Endowed Scholarship through donations of stock and cash. They encourage others to consider donating through employer matching programs, over multiple years, or through estate plans. The document also provides an overview of SWE's planned giving program, endowment fund, and ways donors can establish endowed scholarships or make planned gifts to support SWE programs.
This document summarizes key factors to consider when comparing different student loan options. It discusses loan terminology like annual percentage rate and interest rates. It emphasizes utilizing federal loans first due to their lower fixed rates and flexible repayment options. It also recommends minimizing borrowing by using savings and income when possible. The document provides a comparison of MEFA and Direct PLUS Loans and encourages contacting MEFA for help assessing loan affordability and repayment plans.
Financial Action Steps and Milestones-Different Ages-04-18Barbara O'Neill
This document provides information on financial action steps and milestones for different ages and stages of life. It outlines recommended financial tasks in your 20s such as learning to invest, budget, and pay off student loans. Financial tasks in your 30s include saving for retirement and buying a house. Milestones include having 6 months of savings by age 30. The document recommends savings targets at different ages and notes financial considerations for those in their 50s, 60s, and beyond.
1) Financial literacy and having a written spending plan are important for debt reduction and overall financial health.
2) Most people are unaware of basic financial concepts like interest rates, credit scores, and investing principles.
3) Tracking spending habits is the first step to identifying areas to cut back, whether it's small daily purchases or larger unnecessary expenses. Savings from even minor changes can add up significantly over time.
This document discusses personal finance planning and management. It begins by defining personal finance planning and outlining its objectives. It then describes the key steps in personal finance planning, which include assessing one's current financial position, determining goals, establishing sources of income and expenditures, and developing strategies. The document emphasizes the importance of planning and the consequences of not planning one's finances. It provides examples of assets, liabilities, income sources and expenditures to consider.
This document discusses personal financial management among students. It aims to raise awareness of the value of money through a project targeting architecture and design students. The group conducted research including questionnaires, interviews, and polls to understand students' spending habits and income sources. Most students reported receiving money from their parents as their primary income. The research found that excessive spending without financial management can lead to debt, loans, and financial problems in the future. The document introduces the project and outlines the objectives, target groups, research methodology, and tools used to analyze spending patterns and identify solutions to reckless extravagance.
This document discusses managing a family budget. It defines a family budget as a list of planned expenditures for a given time period and income amount. The document outlines the key components of a family budget, including food, shelter, education, health needs, clothing, transportation, and social/recreational needs. It also discusses factors like priorities and types of spending that should be considered when preparing a budget. The overall goal of a budget is to balance income and expenses in order to spend money wisely and save for future needs.
Best financial planning practices for teenagersCalvin Lee
Teenagers should practice financial planning by budgeting their money, distinguishing between needs and wants, and considering all costs before purchasing expensive items. They can start building wealth by creating an emergency fund of 6-12 months' expenses, purchasing insurance policies, and saving for education. Over time, teens can accumulate more wealth by investing small amounts in stocks and shares while continuing to add to their savings accounts. Financial planning helps teens achieve financial goals.
This document discusses ways to leave a legacy donation to the Society of Women Engineers (SWE) through planned giving. It describes how SWE members Virginia Counts and Betty Irish established the Virginia Counts and Betty Irish "SWE for Life" Endowed Scholarship through donations of stock and cash. They encourage others to consider donating through employer matching programs, over multiple years, or through estate plans. The document also provides an overview of SWE's planned giving program, endowment fund, and ways donors can establish endowed scholarships or make planned gifts to support SWE programs.
This document summarizes key factors to consider when comparing different student loan options. It discusses loan terminology like annual percentage rate and interest rates. It emphasizes utilizing federal loans first due to their lower fixed rates and flexible repayment options. It also recommends minimizing borrowing by using savings and income when possible. The document provides a comparison of MEFA and Direct PLUS Loans and encourages contacting MEFA for help assessing loan affordability and repayment plans.
Financial Action Steps and Milestones-Different Ages-04-18Barbara O'Neill
This document provides information on financial action steps and milestones for different ages and stages of life. It outlines recommended financial tasks in your 20s such as learning to invest, budget, and pay off student loans. Financial tasks in your 30s include saving for retirement and buying a house. Milestones include having 6 months of savings by age 30. The document recommends savings targets at different ages and notes financial considerations for those in their 50s, 60s, and beyond.
1) Financial literacy and having a written spending plan are important for debt reduction and overall financial health.
2) Most people are unaware of basic financial concepts like interest rates, credit scores, and investing principles.
3) Tracking spending habits is the first step to identifying areas to cut back, whether it's small daily purchases or larger unnecessary expenses. Savings from even minor changes can add up significantly over time.
If you have a high school senior starting to receive college acceptances, congrats! The admissions process is a long road, and your family is nearing the end of it. But one of the most important steps – figuring out how to pay the college bill – still needs to be completed.
This document provides guidance on creating a budget for college students. It outlines key components of a student budget including identifying income sources, estimating expenses, and tracking spending. Expenses are divided into fixed costs like tuition and housing and more flexible categories. The document warns that credit cards can enable overspending if not used carefully and within one's budget. It provides tips for credit card management and using a budget to avoid debt.
The document presents a family budget plan for the Reyes family, who have a combined monthly income of 20,000 pesos. It allocates their income across key budget categories:
- Basic Needs (30% or 6,000 pesos)
- Allowance (24% or 4,800 pesos)
- Bills/Utilities (17% or 3,400 pesos)
- Savings (15% or 3,000 pesos)
- Education (7% or 1,400 pesos)
- Transportation (7% or 1,400 pesos)
The document provides a step-by-step breakdown of how the budget was calculated for each category based on the family
Exploring Financial Education and Ourtreach with Head Start Familiessondramilkie
This document summarizes a presentation on providing financial education to Head Start families. It discusses defining financial literacy, assessing baseline financial behaviors of Head Start families through surveys, and implementing various modes of education - including newsletters, workshops, and financial coaching. The results of an initial financial education pilot project across 7 counties were also shared, finding some improvements in financial goal setting and capabilities among participating families. Next steps discussed expanding the program to more counties and families.
Discover how to pay for college with the help of our financial aid guide. You will learn about why go to college, what are ways to finance your education expenses, what is FAFSA, what are sources of college financial aid and other important information on paying for college. Read our guide today.
This document provides information about paying for law school at UC Hastings College of the Law. It discusses applying for financial aid through FAFSA and UC Hastings supplements. Most students finance their education through a combination of savings, loans, grants, scholarships, work, and loans. Typical financial aid packages for full need and no need students are estimated. The document concludes with tips for achieving your dreams through good financial habits like living below your means, borrowing as little as possible, and establishing a budget.
If you’re beginning repayment on a student loan soon (or know someone who is), it’s important to understand the process and to stay on track. Keeping up to date with student loan payments is necessary to build a solid credit history and maintain strong financial health.
Preparing for college with middle schoolersLisa Allard
This document provides information for middle school families on planning and preparing for college. It discusses the importance of education after high school, different college options and costs. Key points include: those with a bachelor's degree earn more and have lower unemployment; college options include 4-year, 2-year, vocational programs; the median earnings and tax payments are higher for those with more education. It provides strategies for academic preparation in middle school, exploring extracurriculars and colleges. Families can use tools like net price calculators, FAFSA, college search sites to understand affordability. The document reviews financial aid, grants, loans and savings vs borrowing. It highlights Massachusetts savings options like U.Fund 529 and U.Plan
Year 1 Intro to CTO Workshop 2014 - BHSEC Queens, March 2014bhsecqueensmanhattan
This document provides information about a Class of 2015 Year One C.T.O. Planning Night held on February 27th, 2014 from 6-7:30pm. It introduces the C.T.O. Director and advisors, discusses college options including the large number of colleges in the U.S. and options within SUNY and CUNY systems. It then outlines the resources and support provided by the C.T.O. office including meetings, fairs, visits and workshops. Finally, it provides an overview of the college admissions process including criteria, applications, financial aid, and next steps for students.
The document proposes a TV show called "Biggest Saver" that would feature families as they work to reduce debt and build savings over 16 weeks. Viewers would be engaged through challenges to reduce expenses in their own lives. The winning family would receive $100,000 deposited into a savings vehicle. Accompanying online tools and financial education would help viewers improve their financial literacy and start saving. The show aims to build financial awareness among millions of households nationwide by highlighting real families' debt repayment journeys.
This document discusses different sources of family income. It identifies salaries/wages, commission, bonus, fees from services, and profits from business as the main sources. Salaries are earned from employment, commission from sales, bonus as recognition for years of service, fees from services rendered, and profits from operating a business. The document provides examples and exercises to help understand each source of income and maximize a family's overall income from multiple sources.
So you want to go to college! But college is expensive, what to do? For most students financial aid is a part of the package to make college affordable. In this module of the Affording College Now Seminar, we cover all of the sources of financial aid. A Leader's Guide is available if you would like to present this workshop, just contact us.
If you have a student headed to college in the fall, you’ll need to start putting together a plan to pay the college bill. We’ve created a presentation below that walks through all of your options, as well as explaining your financial aid, the college waitlist, and the timeline of the next few months.
The document provides an overview of financial aid at the University of North Texas (UNT). It explains that the Student Financial Aid and Scholarships (SFAS) office awards over $280 million annually to assist students in meeting the costs of their education. The financial aid process at UNT involves students completing the Free Application for Federal Student Aid (FAFSA) and responding to requests for additional information by specified priority dates. Financial aid comes in the forms of grants, work-study, loans, and scholarships, and it is used to pay tuition and fees with any remaining funds refunded to students.
College transfer advising at bard high school early college queensbhsecqueensmanhattan
The College Transfer Office (CTO) at Bard High School Early College Queens aims to guide students through the college application and transfer process. It provides advising for students beginning in 9th grade, and formal advising starts in spring of 11th grade. The CTO offers resources like college guides and application fee waivers, and hosts information sessions with college admissions representatives. Students visit colleges as part of a retreat in late 11th grade. Weekly meetings are held in 12th grade to assist with applications, essays, and deadlines. The CTO also coordinates college fairs and publishes notes with scholarship and deadline information.
It’s important to understand the differences among all of your college loan options. This presentation provides guidance on comparing interest rates, calculating total loan cost, and what to read in the fine print.
If you have a student headed to college in the fall, you’ll need to start putting together a plan to pay the college bill. We’ve created a presentation below that walks through all of your options, as well as explaining your financial aid, the college waitlist, and the timeline of the next few months.
This document provides information about factors to consider when choosing a postsecondary institution and paying for education costs. It discusses rising tuition costs, graduation rates, credit requirements, minimum credit loads, affordability, return on investment, potential career outcomes, and financial aid options like scholarships, the FAFSA, loans, and repayment plans. Key details are highlighted for students and families to make informed decisions about college affordability and financing their education.
2017 financial aid night presentation.pptxwebern79
The document provides information about paying for postsecondary education. It discusses:
- Rising costs of 4-year public and private colleges from 2016 to 2030 projections
- Low graduation rates within 4 years and importance of taking at least 15 credits per semester
- Resources for researching affordability like CollegeCost.ed.gov and MySmartBorrowing.org
- Importance of completing the FAFSA, researching scholarships, understanding financial aid award letters, and deciding on financing options.
Financial Aid 101 provides an overview of financial aid for college. It explains that financial aid helps pay for college costs and can come from the federal government, state, schools, or private organizations. Aid is awarded based on financial need, merit, or other factors. The document outlines the various types of federal, state, private, and institutional financial aid available, including grants, loans, work-study, and scholarships. It also provides details on how to determine financial need and apply for aid, including completing the FAFSA and other required forms.
If you have a high school senior starting to receive college acceptances, congrats! The admissions process is a long road, and your family is nearing the end of it. But one of the most important steps – figuring out how to pay the college bill – still needs to be completed.
This document provides guidance on creating a budget for college students. It outlines key components of a student budget including identifying income sources, estimating expenses, and tracking spending. Expenses are divided into fixed costs like tuition and housing and more flexible categories. The document warns that credit cards can enable overspending if not used carefully and within one's budget. It provides tips for credit card management and using a budget to avoid debt.
The document presents a family budget plan for the Reyes family, who have a combined monthly income of 20,000 pesos. It allocates their income across key budget categories:
- Basic Needs (30% or 6,000 pesos)
- Allowance (24% or 4,800 pesos)
- Bills/Utilities (17% or 3,400 pesos)
- Savings (15% or 3,000 pesos)
- Education (7% or 1,400 pesos)
- Transportation (7% or 1,400 pesos)
The document provides a step-by-step breakdown of how the budget was calculated for each category based on the family
Exploring Financial Education and Ourtreach with Head Start Familiessondramilkie
This document summarizes a presentation on providing financial education to Head Start families. It discusses defining financial literacy, assessing baseline financial behaviors of Head Start families through surveys, and implementing various modes of education - including newsletters, workshops, and financial coaching. The results of an initial financial education pilot project across 7 counties were also shared, finding some improvements in financial goal setting and capabilities among participating families. Next steps discussed expanding the program to more counties and families.
Discover how to pay for college with the help of our financial aid guide. You will learn about why go to college, what are ways to finance your education expenses, what is FAFSA, what are sources of college financial aid and other important information on paying for college. Read our guide today.
This document provides information about paying for law school at UC Hastings College of the Law. It discusses applying for financial aid through FAFSA and UC Hastings supplements. Most students finance their education through a combination of savings, loans, grants, scholarships, work, and loans. Typical financial aid packages for full need and no need students are estimated. The document concludes with tips for achieving your dreams through good financial habits like living below your means, borrowing as little as possible, and establishing a budget.
If you’re beginning repayment on a student loan soon (or know someone who is), it’s important to understand the process and to stay on track. Keeping up to date with student loan payments is necessary to build a solid credit history and maintain strong financial health.
Preparing for college with middle schoolersLisa Allard
This document provides information for middle school families on planning and preparing for college. It discusses the importance of education after high school, different college options and costs. Key points include: those with a bachelor's degree earn more and have lower unemployment; college options include 4-year, 2-year, vocational programs; the median earnings and tax payments are higher for those with more education. It provides strategies for academic preparation in middle school, exploring extracurriculars and colleges. Families can use tools like net price calculators, FAFSA, college search sites to understand affordability. The document reviews financial aid, grants, loans and savings vs borrowing. It highlights Massachusetts savings options like U.Fund 529 and U.Plan
Year 1 Intro to CTO Workshop 2014 - BHSEC Queens, March 2014bhsecqueensmanhattan
This document provides information about a Class of 2015 Year One C.T.O. Planning Night held on February 27th, 2014 from 6-7:30pm. It introduces the C.T.O. Director and advisors, discusses college options including the large number of colleges in the U.S. and options within SUNY and CUNY systems. It then outlines the resources and support provided by the C.T.O. office including meetings, fairs, visits and workshops. Finally, it provides an overview of the college admissions process including criteria, applications, financial aid, and next steps for students.
The document proposes a TV show called "Biggest Saver" that would feature families as they work to reduce debt and build savings over 16 weeks. Viewers would be engaged through challenges to reduce expenses in their own lives. The winning family would receive $100,000 deposited into a savings vehicle. Accompanying online tools and financial education would help viewers improve their financial literacy and start saving. The show aims to build financial awareness among millions of households nationwide by highlighting real families' debt repayment journeys.
This document discusses different sources of family income. It identifies salaries/wages, commission, bonus, fees from services, and profits from business as the main sources. Salaries are earned from employment, commission from sales, bonus as recognition for years of service, fees from services rendered, and profits from operating a business. The document provides examples and exercises to help understand each source of income and maximize a family's overall income from multiple sources.
So you want to go to college! But college is expensive, what to do? For most students financial aid is a part of the package to make college affordable. In this module of the Affording College Now Seminar, we cover all of the sources of financial aid. A Leader's Guide is available if you would like to present this workshop, just contact us.
If you have a student headed to college in the fall, you’ll need to start putting together a plan to pay the college bill. We’ve created a presentation below that walks through all of your options, as well as explaining your financial aid, the college waitlist, and the timeline of the next few months.
The document provides an overview of financial aid at the University of North Texas (UNT). It explains that the Student Financial Aid and Scholarships (SFAS) office awards over $280 million annually to assist students in meeting the costs of their education. The financial aid process at UNT involves students completing the Free Application for Federal Student Aid (FAFSA) and responding to requests for additional information by specified priority dates. Financial aid comes in the forms of grants, work-study, loans, and scholarships, and it is used to pay tuition and fees with any remaining funds refunded to students.
College transfer advising at bard high school early college queensbhsecqueensmanhattan
The College Transfer Office (CTO) at Bard High School Early College Queens aims to guide students through the college application and transfer process. It provides advising for students beginning in 9th grade, and formal advising starts in spring of 11th grade. The CTO offers resources like college guides and application fee waivers, and hosts information sessions with college admissions representatives. Students visit colleges as part of a retreat in late 11th grade. Weekly meetings are held in 12th grade to assist with applications, essays, and deadlines. The CTO also coordinates college fairs and publishes notes with scholarship and deadline information.
It’s important to understand the differences among all of your college loan options. This presentation provides guidance on comparing interest rates, calculating total loan cost, and what to read in the fine print.
If you have a student headed to college in the fall, you’ll need to start putting together a plan to pay the college bill. We’ve created a presentation below that walks through all of your options, as well as explaining your financial aid, the college waitlist, and the timeline of the next few months.
This document provides information about factors to consider when choosing a postsecondary institution and paying for education costs. It discusses rising tuition costs, graduation rates, credit requirements, minimum credit loads, affordability, return on investment, potential career outcomes, and financial aid options like scholarships, the FAFSA, loans, and repayment plans. Key details are highlighted for students and families to make informed decisions about college affordability and financing their education.
2017 financial aid night presentation.pptxwebern79
The document provides information about paying for postsecondary education. It discusses:
- Rising costs of 4-year public and private colleges from 2016 to 2030 projections
- Low graduation rates within 4 years and importance of taking at least 15 credits per semester
- Resources for researching affordability like CollegeCost.ed.gov and MySmartBorrowing.org
- Importance of completing the FAFSA, researching scholarships, understanding financial aid award letters, and deciding on financing options.
Financial Aid 101 provides an overview of financial aid for college. It explains that financial aid helps pay for college costs and can come from the federal government, state, schools, or private organizations. Aid is awarded based on financial need, merit, or other factors. The document outlines the various types of federal, state, private, and institutional financial aid available, including grants, loans, work-study, and scholarships. It also provides details on how to determine financial need and apply for aid, including completing the FAFSA and other required forms.
Financial aid is money provided to help pay for college expenses. It includes grants, scholarships, work-study, and loans from the federal government, state, schools, or private organizations. Students apply for financial aid by completing the FAFSA and may need to submit additional forms depending on the school. Financial aid packages from schools combine different types of aid and may only partially cover a student's financial need. Carefully considering aid packages is important when choosing a college.
The document discusses the rising costs of higher education and the various student loan options available to help finance a degree. It outlines 6 major types of loans: Direct Subsidized and Unsubsidized Loans from the federal government, Perkins Loans, PLUS Loans for parents and graduate students, state-specific loans, and private student loans. The loans differ in their eligibility requirements, interest rates, and borrowing limits. The document stresses starting the financial planning and aid application process as early as possible to secure the necessary funding.
This document provides information about college finances and financial aid. It discusses the four main sources of financial aid as federal, state, and college aid as well as private companies. It also outlines the four main ways to fund education through grants and scholarships, work study, and loans. The document then provides details on specific federal and state grants and loans programs. It gives tips for applying for financial aid, understanding dependency status, borrowing responsibly, budgeting, using credit, and resources for additional help.
The document discusses various topics related to financial literacy in higher education, including financial aid, academic progress standards, tuition refunds and appeals, strategies for managing money, tracking cash flow, and financial tools for saving money. It provides details on the requirements for obtaining financial aid, maintaining satisfactory academic progress, tuition refund deadlines and reasons for appeals, methods for creating a budget and tracking expenses, uses of checking and savings accounts as well as credit cards, and tips for saving money through budgeting, economizing, and developing personal money-saving strategies.
Dear all Please compare with the following article.
11 Leadership Lessons from" The Leader in you"-Dale Carnegie
1. Talk less, listen more.
People will pay attention to what you say, just because of your position. The leader’s job is to pay attention to what other people say, especially those who think their views don’t count. Show you’re listening by acting on what people tell you, and gain their trust by giving them the credit.
2. Don’t step in with solutions too quickly.
No-one learns anything new if you keep doing what you already know how to do, and don’t allow others to try. Anyway, they may find a different, or better way, and if not… mistakes are valuable too.
3. Be authentic.
Be authentic, passionate, even emotional, about what you believe in. Share your vision and live your values. The personal is more engaging, even inspiring, than the process.
4. Don’t ‘dis’ downwards.
Once a decision is made by the Board, or the leadership team, it’s yours even if you argued against it during discussions. Your job as leader is to get others to believe in, and work towards, a shared goal, not to divide opinion or loyalties.
5. I’m OK: You’re OK.
Start from the position that everyone is doing the best they can, then look for ways to support and encourage them – which is so much more rewarding than finding fault.
6. Don’t be the smartest person in the room.
Being a leader does not mean knowing more than anyone else. Recognise, encourage and promote others as experts. Give them the trust and autonomy to be creative and do excellent work, defined in their terms. You simply provide the direction, so that this excellent work contributes to a shared purpose.
7. Sense of purpose.
Your team know what they do and how to do it, but you can make a big difference by sharing a strong sense of why they’re doing it and where it’s heading. Help them develop a broad understanding of the team’s purpose, and faith in how their role contributes to the whole. (Remember the floor-sweeper at NASA?)
8. Being right isn’t enough.
A great idea is of no consequence unless you can convince others to believe it too, and then persuade them to help you make your idea a reality. The best way to do this is to make the idea theirs.
9. Focus on a few things.
Focusing on the things that really matter and where you can make a difference. There may be a hundred different distractions and demands on your time and a hundred ways you could respond, but it’s the dozen carefully chosen actions that deliver the results.
10. Get out and about.
Get out and about and in the work. It’s hard to retain that sense of what the job’s really about when you are sitting.
One good thought does not make a good life. The people who have one good thought and try to ride it for an entire career often end up unhappy or destitute. They are the one-hit wonders, the one-book authors, the one-message speakers, the one-time inventors who spend their life struggling to protect or promote their single idea.
The document provides information about various types of financial aid including grants, work-study, and loans. It defines key terms and outlines eligibility requirements. Several major federal and state aid programs are described, including Pell Grants, Federal Work-Study, Perkins and Stafford Loans. The financial aid process and factors considered in aid packages are summarized. Contact information for further questions is provided at the end.
College Parents of America brings you a series of information regarding college Financial Aids & Scholarships. This chapter focuses on loans for students and parents.
This document discusses balancing saving for retirement and paying for college. It notes that things were different for previous generations who had lower college costs and more robust pensions. While the most expensive option is paying for an Ivy League education, focusing only on retirement means children may have limited college options. The best approach is open communication where both retirement and college are prioritized, including getting children involved in saving for college. Tax-advantaged retirement accounts can be used for college with some pros and cons. 529 plans are also an option after addressing retirement needs. The document provides details on Alabama's 529 plan options.
The Ultimate Guide to Student Loan RepaymentAnik Khan
This presentation is designed for the 44M Americans with student loans. It provides a comprehensive overview of student loan repayment options from pausing payments to income-driven repayment plans and refinancing. It also demonstrates how to objectively evaluate different repayment options and gives tips on how to think about repayment in the context of other financial objectives and decisions.
This document discusses the rising costs of postsecondary education and strategies for paying for college. It notes that while a year of college could be paid for with summer earnings in the past, students would now need to work for over 25 weeks to cover a year's tuition. It then provides information on average tuition costs and projected increases. The document emphasizes that higher education is still a good investment that leads to higher lifetime earnings. However, it notes that many students do not graduate within 6 years and may struggle to repay loans without a degree. The remainder of the document outlines financial aid options including grants, loans, and repayment plans to help students pay for and afford their education.
The document discusses financial aid options for students including the Federal Work Study Program, student loans, and managing student loan debt. It provides information on the student employment process, accessing student financial records online, applying for federal and private student loans, and contact information for financial aid offices.
This document provides an overview of understanding financial aid, including the main types of financial aid (scholarships, grants, loans, work study), the application process (FAFSA, CSS Profile), factors that affect financial aid awards, and resources for questions. It discusses merit-based and need-based scholarships, federal and state grants, federal student loans, how financial need is calculated and met through different types of aid, and tips for navigating the financial aid process and comparing financial aid award letters from different colleges.
The document discusses managing student loan debt. It recommends knowing details of loans such as principal, interest, and monthly payments. It also recommends knowing if loans are federal or private since rules differ. It suggests creating a budget to calculate income, expenses, and set goals to pay down debt. It advises paying more than the minimum when possible to pay off loans sooner and save on interest. If struggling to pay, it recommends exploring repayment options, deferment, or forbearance rather than stopping payments. Bankruptcy will usually not eliminate student loan debt.
This document provides an overview of financial aid for college, including the key topics of cost of attendance, expected family contribution, financial need, types of aid (scholarships, grants, loans, employment), and the Free Application for Federal Student Aid (FAFSA) application process. It discusses calculating financial need by subtracting the expected family contribution from the cost of attendance. It also summarizes the various types of scholarships, grants, loans and federal work study programs available.
There are three main types of federal student loans available to finance college costs:
1) Subsidized Stafford Loans are available based on financial need and the government pays interest while enrolled.
2) Unsubsidized Stafford Loans are available to all students but interest accrues while enrolled which increases total cost.
3) Perkins Loans are similar to Subsidized Stafford Loans with some interest covered after graduation.
Private student loans from parents or banks can also be options to cover remaining college costs beyond federal loans. Understanding the loan types is important for developing a financial plan to pay for higher education.
The document provides information and advice about smart student borrowing. It discusses why students borrow for college and things to consider when making borrowing decisions, such as career earnings and debt-to-income ratios. The document outlines the student loan process, including applying, promissory notes, disbursement, repayment options, and avoiding default. Resources for financial aid information and textbook purchasing are also listed.
Education Loans Take Over | Refinance Education Loan | GyanDhanYogender Panchal
The document discusses education loan refinancing in India. It explains that students can refinance their education loans to get a lower interest rate and better terms from a new lender. Some key benefits of refinancing include lowering interest costs, consolidating multiple loans, and extending repayment terms. The best time to refinance is after graduating when repayment risk is lower. The process involves applying to the new lender and having them pay off the original loan. Refinancing can save on total interest costs if charges are lower than savings on the new loan.
Similar to Managing Your Personal Finances 101 (20)
2. Agenda
• Comparing Student Loan Options
– Stafford Loans
• Subsidized
• Unsubsidized
– PLUS Loans
• Parent PLUS Loan
• Graduate and
– Federal Perkins Loan
– Grants
• Interest Rates
– Fixed
– Variable
• Avoiding Debt
– Techniques to Avoid Debt
3. Stafford Loans
Subsidized Unsubsidized
• Lower interest • Higher interest
rate rate
• Interest does not • Interest accrues
accrue during during school
school • 6 month grace
• 6 month grace to to start repay
start repay after after graduation
graduation • Covers up to
• Covers up to $18,500 per
$8,500 per year year or
or $65,000 total $138,500 total
*For additional information visit www.StaffordLoan.com
4. PLUS Loans
Federal Parent
PLUS Loan Direct PLUS Loans
• For Parents of • For Graduates and
undergraduates Professional Degree Students
• 1st payment due 60 • 1st payment due 60 days after
days after final final disbursement
disbursement • The maximum allowed is the
• The maximum amount of attendance minus
allowed is the amount any other financial assistance
of attendance minus received
any other financial
assistance received
*For additional information visit www.studentaid.ed.gov
5. Federal Perkins Loan
• Low interest Federal student loan
• School is the lender, however the loan is made
with government funds
• Repayment does not begin until 9 months after
graduation
• Maximum loan amount is $6000 per year, or
$40,000 total
• 10 years to have loan paid in
full
6. Grants
• Funds that do not have to be paid back
• Student need only to apply and be approved
• Typically provided to students based upon a
financial need
Types of Grants:
Institutional Grants
Federal Grants
Other Grants
8. Avoiding Debt
• Create a budget plan
• Pay cash for normal expenses
• Stop buying unnecessary items you do
not need
• Live within your means
• Create an “EMERGENCY” fund
• Stop getting credit cards
10. Summary
• Student loans are a great way to help pay for your higher
education, as with all loans however you should always
borrow carefully.
• Grants are also a great resource to help pay for
schooling, unlike student loans grants do not have to be
paid back.
• Interest rates can vary based upon an individual’s credit
score. Interest rates can be high or low, and can be
either fixed or
variable.
• Debt can be easily overwhelming to an individual if
managed poorly. Be cautious of the debt you have and
apply appropriate techniques to reduce any debt you may
have.
When a person decides to continue their education after high school, one of the most important questions they need to ask their self is how they will finance this pursuit of a higher education. While it is possible for returning students to pay for higher education with cash it is highly improbable. There are two main ways in which a returning student can finance their higher education that being with grants and student loans. Stafford loansFederal Stafford loans are fixed rate student loans for undergraduate and graduate students attending college at least half-time. Subsidized Stafford loans cover up to $8,500 a year for graduate school, or $65,000 total. You don't have to repay them until six months after graduation, and there are a lot of repayment options - up to 25 years if the loan is over $30,000. Unsubsidized Stafford loans cover up to $18,500 a year for graduate school, or $138,500 total. You don't repay them until six months after graduation, and if the loan is more than $30,000, you can take up to 25 years to pay it back.
PLUS loans cover costs that aren't covered by other sources of financial aid. You have to start repaying them two months after receiving the loan. But, like the Stafford loans, you can take up to 25 years to repay in full if it is over $30,000.
Interest rate is 5%The Federal Perkins loan is for $6,000 a year or $40,000 total. You don't have to start repayment until nine months after graduation, and you have 10 years to repay in full.
Institutional GrantsAt private universities, institutional grants typically form a large portion of a student's financial aid package. This is money a student is given by the university to offset the cost of attendance, and it does not need to be paid back. The amount of an institutional grant is determined by your financial need. Institutional grants are usually used after all your loans, federal grants, scholarships and savings have been applied and there is still a balance on your tuition bill. At a private, well-endowed university, a student whose family is unable to contribute any money toward college expenses may be awarded $20,000 or more in institutional grants per year.Federal GrantsThe federal government offers several higher education grants. Among these, the most popular is the Pell Grant. Pell Grant money is given by the federal government but usually apportioned by your school's financial aid office. In the 2008-2009 school year, the maximum Pell grant award was $4,731. Another popular federal grant is the Federal Supplemental Educational Opportunity Grant (FSEOG). This award (up to $4,000 per year) is given to students with exceptional financial need and who already qualify for Pell Grants. Federal grants, like institutional grants, do not need to be repaid.Other GrantsThere are loads of need-based grants that are typically given out on the basis of where you live, your race or ethnicity and what you plan to study. These grants, unlike institutional and federal grants, will not be given to you as part of the financial aid application process; you'll have to seek them out. Consult the Resources section for websites with directories of scholarships and grants.How Do I Get a Grant?Almost all students applying for financial aid are required to fill out the Free Application for Federal Student Aid (FAFSA). This form, administered by the federal government, is used to calculate your eligibility for federal aid (including Pell Grants FSEOGs and also federal loans). But the form is used by your university not only to calculate your federal aid eligibility but also to determine what institutional grants and scholarships you're eligible for. Because of its importance, take extra care to file it by the deadline. See Resources for a link to the FAFSA's website.Types of College Grants | eHow.com http://www.ehow.com/about_4778086_types-college-grants.html#ixzz1cQB2HRhS
Everything that involves consumer credit is based on how good your credit is. If your credit is bad you will have to give a deposit in order to get consumer credit and you will also have higher interest rates. If you have good credit you will have lower interest rates and payments.Fixed interest rates are rates that stay the same throughout the life of the loan. The most common loans with fixed rates are car loans, student loans, and home loans.Variable interest rates vary and can go up or down depending on the prime rate. The prime rate is the rate banks charge their preferred customers. Interest rates on credit cards and home equity loans can be either fixed or variable.
There are a lot of ways to avoid debt, but you just have to be willing to follow the plan that best fits your situation. This is a list of some of the things I think you can do to avoid getting into debt. Create a budget plan designating the appropriate amount of money for your fixed expenses such as car payments, mortgage payment, rent, etc. and then estimate how much money you will need for other expenses such as clothing and entertainment. This way you will less likely to overspend.Pay cash for normal expenses like your groceries, cable, phone, and gas and electric bill. Do not pay for these items with credit that will only increase your debt. Paying cash also allows the person to see where the money is going and how it is been spent.Most of the time spending money on things you do not need is done on impulse. This kind of spending can lead to overspending. Before you buy items ask yourself this questions.Do I need this item or is it a want?Can I afford this item at the current time?Will buying this item force me into further debt?Do not spend more money then what you are bringing in. Do not try purchasing material things just because your friends have them. Creating an Emergency fund can help you survive a major financial crisis. Recommendations for emergency funds are to have six months worth of living expenses saved up. Do not depend on credit cards or line of credit as an emergency fund that will only get you in more debt.Try to have one or two credit cards, more than that can be hard to keep track off payment dates and amounts owed. Always pay off your credit cards at the end of the month. Also remember to pay on time.
Getting in debt is easier then getting out of debt. But once you are in debt there are several things you can do to manage your debt. Develop a budget with your necessities and debt payments and then you can add expenditures until you run out of cash. This means that you will pay bills and your debt before you can consider using money for entertainment and clothes shopping.Contact your creditors immediately when you know you are not going to be able to make your payments. Tell them why its hard for you to make payments, and try to work out a payments plan that is manageable to you.If cannot create a budget that you can stick to, cannot work out a new repayment plan, or your are not organize and cannot keep track of your bills, the you should contact a credit counseling organization. They can help you develop a budget, plan for debt reduction, and negotiate with your creditors.A debt consolidation loan is a loan for repayment of higher interest debt. It is best to get the shortest loan that you can afford to pay. If you decide in a debt consolidation loan you must remember not to run up your credit cards again. You will not be able to make the payments on the new loan and on the new debt.If everything fails you have one more option that option is bankruptcy. Bankruptcy is the legal right to ask the court of law to get rid of certain debts and obligations. Bankruptcy stay on your credit report for ten years and can make it hard for you to get new credit.