Personal Finance Notes Unit 2: Chapter 5

_____________ is owing anything to anyone for __________ reason.

Debt, any

Wise People Invest in Themselves 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

Applying for Financial Aid Fill Out the FAFSA Form 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

Certifications Students who are looking to learn specific skills can look into free or low-cost _________________ found online, at community colleges, or through government-funded programs.

certifications

A student ___________ is NOT an award! It will take years to pay it back, plus you'll have to pay interest.

loan

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

worth

Keep in mind that ____________ _________________ doesn't always mean ______________ _________________. Your future happiness, success, and income will have very little to do with the prestige or name recognition of the college you attend.

more expensive, better quality

Shop Around It's a good idea to ______________ your choices down to six schools or less. During this process, consider each school's degree programs, living expenses, and tuition.

narrow

First, you have got to ____________. Leaders are readers!

read

Get Good Grades One thing you can do ___________ ____________ is get good grades.

right now

Research Scholarships Another form of free money is ______________.

scholarships

When you receive your financial aid award package for college, you'll see a list of all different types of awards like ___________________ and grants.

scholarships

When to Visit the Financial Aid Office If you get stuck at any point in the process, just stop by your college's _____________ _________ office.

financial aid

The FAFSA form needs to be completed each year you are in college. The sooner you turn in the form (by January or February), the more likely you are to get financial help because some federal _____________ is awarded on a first-come, ________-served basis.

funding, first

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

Trade School Trade schools allow students to learn basic __________________ __________ in two years or less because technical schools typically cut out many of the general courses required by traditional universities. Also, since trade schools are often directly tied into the employment needs of their region or state, prospective employers often seek new hires from trade school graduates.

professional skills

Remember, student loans are bad news. Make sure you ask that the student loan be _____________ from your funding.

removed

Starting a Business Maybe you'd like to ____________ your own business. While there is always risk involved, if you have passion and an entrepreneurial spirit, it might be right for you. Be sure to create a solid business plan and establish financial resources first. Stick with a debt-free plan. Remember to be enthusiastic about your venture. May people who don't necessarily make "good" traditional students make the best entrepreneurs because of their passion and people skills. Be prepared to work hard and know that there will be some bumps in the road.

start

Research Work Opportunities Get a part-time job Research shows that students who work up to _________ hours a week have the highest grade point averages of any type of student in college because they often develop good time-management skills.

20

The people you put in your life influence your careers, you _____________, and how you spend your money.

decisions

Work on or off campus 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

Millions of people can't afford to make their student loan ________________ every month.

payment

Cash Flow Your College Education You need a ________________! Start now. Get help from your parents and school counselor along the way.

plan

Explore Grants _____________ are golden.

Grants

On-the-Job Training _____-_______-_________ 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.

On-the-job

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

The ___________ (Free Application for Federal Student Aid) is the first step to receiving any kind of financial aid. Whether you are interested in scholarships, grants, loans, or other financial aids, you'll need to submit this form.

FAFSA

Associate's Degree An associate's ______________ is a 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. Whether it is your first step toward earning a bachelor's degree or the beginning of your career, an associate's degree may be a great option. Career fields such as fashion design, nursing, cardiovascular technology, and criminal justice are offered at the associate's level.

degree

Reality TV and video games are great _________________, but they're just entertainment.

distractions

Have some ________________ who have already had some success.

mentors

Th average ______________ reads one nonfiction book a month!

millionaire

Grants are free ______________!

money

Beware of the Student Loan Myth Our culture thinks student loan debt is okay-it seems totally ______________. Some people even call it "good debt."

normal