FinanceU Syllabus

FinanceU In the $SYLLABUS$ 2013-2014 school year, the The investment average cost of tuition at a return on a college education is 14-15%, public, 4-year The FinanceU Syllabus will provide students and their still a sound school was investment. $40,917. parents with a crash course in preparing to navigate the treacherous landscape of financing a college education. FINANCIAL SENSE 101 $ Determine cost of tuition for each prospective school and expected contribution amounts. Start Planning Early Students and their parents should begin thinking about financing a college education during the student's sophomore year of high school, Apply for grants and scholarships, using studentaid.ed.gov, finaid.org, fastweb.com. Tuition only accounts for about 1/3 - 1/2 Families should of the total cost College enrollment fill out their FAFSA of attendance. Children under application at the end of the student's junior year. the age of 18 are rates have 51 times more increased 15% likely to become over the past victims of three decades. identity theft than their parents. Fewer than 20,000 students will receive Choose the scholarships that cover the school that will provide the most complete cost of tuition. financial aid. START THINKING ABOUT YOUR CREDIT. O Open a savings account and contribute 10% of your income. Determine the firstyear earning potential for O Pull your credit to make sure you don't have a credit history due to fraud or identity theft. FINANCIAL SENSE careers of interest and $ 201 $ compare that to expected cost of loan repayments. Start building credit by paying While You're In College College is a time to have fun - bills and rent on time. Use Experian RentBureau to manage but fun doesn't have to be at and report rental payments to the expense of your build your credit history. financial health. Get a part-time or full-time job for extra cash to help with living and college costs. Almost 4 out of 5 college students work Less than two-thirds of while in college students in four-year school. universities will graduate. On campus jobs or paid internships may enhance learning and help earn credits or housing 35% of college students stipends. used credit cards in 2012. Work hard over winter and summer breaks to save money for the school year. 30% Open one card and only charge what you can afford, and never Only use 30% or less pay your bill late. of your available credit, Monitor your credit with Credit Concierge. FINANCIAL SENSE BE BUDGET SAVVY. $ 301 $ M Calculate your monthly expenses and income. If there isn't enough money left at the end of the month, it's time to start cuting back. After Graduation Congratulations! You've got a shiny new degree Always have your student ID card with you to receive student discounts everywhere. ... and some debt to pay off. Here's how to manage your new financial obligations and plan for the future. V Couponing isn't just for your parents. Use coupons and student discounts, buy generic, and buy used or discounted textbooks. M Use budgeting tools such as Mint.com and various online banking apps. It's time to give your 14% of adults aged 24-34 live with their parents. Of those, 28% of those are college graduates. budget a makeover. Factor in any additional income and payments. Save! Save! Save! Coupons, discounts and moving Continue to live like a student. Set money Use extra funds aside for an for savings or back in with 20% emergency fund. paying down existing debt. your parents can help. The value of The average Know your debt a 4-years degree is just short of $300,000 and will take someone starting salary for college graduates in 2013 was obligations, when your student loan payments begin, and if you qualify for refinancing or deferment. with a bachelor's $45,327. degree in 2013 10 years to recoup the cost. Consider consolidating loans to lower interest rates and Don't open new credit cards or loan accounts unless it's an absolute necessity. save money. THINK ABOUT YOUR FUTURE. GET A JOB THAT OFFERS LOAN FORGIVENESS Many rewarding careers offer full or partial federal loan forgiveness. O Start investing immediately for your retirement. M Get health, auto, and home or renter's insurance. V Continue to monitor your credit. Public Service Medical Professionals Teaching Social Work Child Care Law CompareCards.com Sources: FastWeb, Wall Street Journal, Forbes, Gallup, Organization for Economic Cooperation and Development, Federal Reserve Bank of New York, The College Board, Carnegie Mellon Cylab. Compare. Pick. Save.