Foundations in Personal Finance: Chapter 5 - Life After High School

Charlie "Tremendous" Jones said "Five years from now you will be exactly the same person you are today except for the _____ you read and the _____ you meet

books,people

In order to make the most of _______ college, you've got to focus on the specifics like filling out your financial paperwork, researching scholarships, and finding part-time work opportunities.

cash flowing

the people you put in your life influence your career, your ______,and how you spend your money

decisions

reality TV and games are great _______ but they're just entertainment

distractions

trade schools, certifications, self-education, on-the-job training, associates degrees, the military, starting your own business

education options for the 21st century

if you get stuck at any point just stop by your colleges _____ _____ office

financial aid

the FAFSA form needs to be completed each year you are in college. the sooner you turn in the form, the more likely you are to get financial help because some federal ______ is awarded on a first-come ____ -served basis

funding,first

there is no such thing as _____ ____

good debt

federal and state governments offer grants that are usually need- based. the FAFSA will determine which grants you qualify for. examples include the federal ___ _____ and state specific grants

pell grant

you need a _____! start now. get help from your parents and school counselor along the way.

plan

first ,you have got to ____leaders are readers

read

remember,student loans are bad news.make sure you ask that student loans be _______ from your funding

removed

one thing you can do _____ ____ is get good grades

right now

another form of free money is _____

scholarships

when you receive your financial aid award package for college you'll see all different types of awards like ___ and grants

scholarships

research shows that students who work up to __ hours a week have the highest grade point averages of any type of student in college.

20

_____ billion dollars of outstanding student loans are past due

85

____ of student loan borrowers wind up dropping out of school

85%

Mentorship

A developmental partnership through which one person shares knowledge, skills, and perspective to foster the personal and professional growth of someone else.

grant

A form of federal or state financial aid that does not need to be repaid; usually given to students who demonstrate financial need

Grant

A form of federal or state financial aid that does not need to be repaid; usually given to students who demonstrate financial need.

Scholarship

A form of financial aid that does not need to be repaid; usually awarded on the basis of academic, athletic or other achievements.

FASFA (Free Application for Federal Student Aid)

A form that is completed annually by current and prospective college students to determine their elgibility for financial aid.

FAFSA

A form that is completed annually by current and prospective college students to determine their eligibility for financial aid

scholarship

A merit-based form of financial aid that does not need to be repaid; usually offered on the basis of academic, athletic or other achievements

good debt

A money myth that portrays student loans as the only financial option when it comes to funding one's college education

Work Study

A program that allows students to work part time while continuing their studies

work study

A program that allows students to work part time while continuing their studies

Trade School

A type of higher learning school that focuses on job skill training for specific career fields rather than academics in liberal arts

$500

Amount a college student should have in their Emergency Fund

Associate's Degree

An undergraduate academic degree awarded by colleges upon completion of a course of study lasting two years

66%

Percent of college graduates that have student debt

_____ is owing anything to anyone for ___ reason

Debt, any

the _____ (free application for federal student aid) is the first step to receiving any king of fiancial aid.

FAFSA

millions of people can't afford to make their student loan ____ each month

payments

self-education

Start reading books, blogs and trade magazines in your field of choice. Attend conferences and local events.meet people and find a mentor.you may also want to attend online courses specific to your field.

Military

The armed forces of a country that has helped a lot of people get through college debt free while giving them the honor of serving their country

10 years

The average length of time it takes to pay back a student loan

Zero Based Budget

The type of budget you should live on where you plan out how all of your money will be spent for the month

Certifications

These may be free or low-cost; found online at community college, or through government-funded programs.

Spending, Saving, & Giving

Three factors students should budget for

a student ____ is NOT an award! it will take year to pay it back,plus you will have to pay interest

loan

Have some ______ who have already had some success

mentors

the average _____ reads one nonfiction book a month

millionare

Grants are free _____!

money

keep in mind that ____ _____ doesn't always mean ____ _____. your furure happiness,success, and income have very little to do with prestige or name recognition of the college you attend

more expensive ,better quality

it is a good idea to _____ your choices down to 6 schools or less

narrow

Our culture thinks student loan debt is okay - it seems totally _______. Some people even call it "good debt."

normal

you can find jobs ___ _____ that offer flexible schedules for students in a variety of roles. these jobs usually pay more than work study

off campus

on- the - job training

on the job training is just that. you, the employee train at the place of work while you are doing the actual job. usually a professional trainer serves as the course instructor and uses a combination of hands- on activities and formal classroom training

Attending a community college for your first two years is a great way to knock out your freshman and sophomore years at a low cost. If you plan to continue your education after your two-year degree, work closely with your advisor to make sure the classes you take are going to ________________ to your four-year university of choice.

transfer

The total estimated student loan debt in our country is one ______________ dollars

trillion

Associates Degree

two-year degree that can offer a variety of benefits including lower cost than four-year colleges, specialized training, and a flexible schedule that allows you to work while you earn your degree.

Your net ______ as an adult will be the average of the five people you hang out with the most

worth