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