College Costs

What you need to know about paying for

a college education

College Costs

What you need to know about paying for

a college education

Breaking down college costs

Breaking down college costs

So… what is it exactly that I am paying for?

So… what is it exactly that I am paying for?

Breaking down college costs

Breaking down college costs

Tuition: the cost of enrollment in coursework at the college level. (ex. $2,300 per year to $45,000 per year)

Room and Board: the cost of living on campus, made up of your dorm room fee and cafeteria meal plan. (ex. $7,000 per year to $ 12,000 per year)

Fees: usually include library access, parking, identification cards, athletic facility usage, health insurance, lab supplies, activity involvement, and game admissions. (ex. $200 per year to $4,000 per year)

Books: The College Board reports the average cost for books and supplies for the 2010–2011 school year was $1,137 at public colleges and $1,181 at private colleges.

Tuition: the cost of enrollment in coursework at the college level. (ex. $2,300 per year to $45,000 per year)

Room and Board: the cost of living on campus, made up of your dorm room fee and cafeteria meal plan. (ex. $7,000 per year to $ 12,000 per year)

Fees: usually include library access, parking, identification cards, athletic facility usage, health insurance, lab supplies, activity involvement, and game admissions. (ex. $200 per year to $4,000 per year)

Books: The College Board reports the average cost for books and supplies for the 2010–2011 school year was $1,137 at public colleges and $1,181 at private colleges.

Affordability:

Reality vs.

Fantasy

Affordability:

Reality vs.

Fantasy

AffordabilityAffordability

College costs should never keep you from pursuing a college education. However…

Where you begin your education and where you complete your degree may be impacted by your individual financial situation.

College affordability is often the most important topic rarely discussed.

College costs should never keep you from pursuing a college education. However…

Where you begin your education and where you complete your degree may be impacted by your individual financial situation.

College affordability is often the most important topic rarely discussed.

AffordabilityAffordability

Questions to consider…. Will you attend Public, Private, Technical

School or start at a Community College? Will you live on campus, off campus, or at

home? Will you stay in state or go out of state?

Questions to consider…. Will you attend Public, Private, Technical

School or start at a Community College? Will you live on campus, off campus, or at

home? Will you stay in state or go out of state?

Affordability:Options,Options,

and more Options…

Affordability:Options,Options,

and more Options…

Estimated college costs

before aid is granted

Estimated college costs

before aid is granted University of Colorado-Boulder- Cost of

attendance not including books- $25,244. University of Colorado-Denver- Cost of

attendance minus Room &Board $9,708. University of Denver- Cost of attendance

not including books- $50,751. Community College of Aurora- Cost of

attendance not including books- $3,175.

University of Colorado-Boulder- Cost of attendance not including books- $25,244.

University of Colorado-Denver- Cost of attendance minus Room &Board $9,708.

University of Denver- Cost of attendance not including books- $50,751.

Community College of Aurora- Cost of attendance not including books- $3,175.

Affordability:So how do I pay for the college I’m interested

in…

Affordability:So how do I pay for the college I’m interested

in…

Itemized Breakdown (estimated) University of

Colorado-Boulder

Itemized Breakdown (estimated) University of

Colorado-Boulder $25,244 Total Bill (excluding books) per year

($100,976)

- $ 2,500 Grants/Adjustments per year ($10,000)

- $ 2,200 Work Study (Job) per year($8,800)

- $ 2,544 Student Savings (Summer) per year($10,176)

- $ 5,000 Parent Out of Pocket per year($20,000)

- $ 5,500+ Student Stafford Loans per year * ($22,000+)

- $ 7,500 Parent PLUS Loans per year ($30,000)

__________________________________________________

Based on data from National Center for Educational Statistics

* Stafford Loans Increase from $5500/$6500/$7500

$25,244 Total Bill (excluding books) per year($100,976)

- $ 2,500 Grants/Adjustments per year ($10,000)

- $ 2,200 Work Study (Job) per year($8,800)

- $ 2,544 Student Savings (Summer) per year($10,176)

- $ 5,000 Parent Out of Pocket per year($20,000)

- $ 5,500+ Student Stafford Loans per year * ($22,000+)

- $ 7,500 Parent PLUS Loans per year ($30,000)

__________________________________________________

Based on data from National Center for Educational Statistics

* Stafford Loans Increase from $5500/$6500/$7500

Let’s look at it from a different lens

Let’s look at it from a different lens

What you pay while in school:

Parent Total- $ 5,000 per year ($20,000 over 4 years)

Student Total- $ 4,744 per year ($18,744 over 4 years)

What you pay after you graduate:

Parent Total- $7,500 per year ($30,000 + interest)

Student Total- $5,500 per year ($27,000 + interest)

* For every $10,000 of loans a person typically pays $110 per month over a 10 year period (based on current rates-subject to change)

What you pay while in school:

Parent Total- $ 5,000 per year ($20,000 over 4 years)

Student Total- $ 4,744 per year ($18,744 over 4 years)

What you pay after you graduate:

Parent Total- $7,500 per year ($30,000 + interest)

Student Total- $5,500 per year ($27,000 + interest)

* For every $10,000 of loans a person typically pays $110 per month over a 10 year period (based on current rates-subject to change)

What you can do now:

FINANCIAL AID

OVERVIEW

What you can do now:

FINANCIAL AID

OVERVIEW

Financial AidFinancial AidFAFSA = Free Application for Federal Student

Aid * Never pay to submit your FAFSA!

Everyone should apply for financial aid by filling out the FAFSA in January of senior

year.

Even if you think you may not qualify it is required for work study jobs!

Financial Aid Night @ EHS on November 28th

FAFSA = Free Application for Federal Student Aid

* Never pay to submit your FAFSA!

Everyone should apply for financial aid by filling out the FAFSA in January of senior

year.

Even if you think you may not qualify it is required for work study jobs!

Financial Aid Night @ EHS on November 28th

What you can do now

What you can do now

FAFSA pin numbers (www.pin.ed.gov)

FAFSA Forecaster

Net Price Calculators (New College Tool!)

Financial Aid Calculators (check finaid.org or collegeboard.com)

College Opportunity Fund (CollegeInColorado.org)

FAFSA pin numbers (www.pin.ed.gov)

FAFSA Forecaster

Net Price Calculators (New College Tool!)

Financial Aid Calculators (check finaid.org or collegeboard.com)

College Opportunity Fund (CollegeInColorado.org)

FAFSA.ed.govFAFSA.ed.gov

FAFSA PIN Numbers

FAFSA PIN Numbers

Net Price CalculatorNet Price Calculator

Colleges are now providing Net Price Calculators to give a more accurate depiction of what you will be required to pay.

Colleges are now providing Net Price Calculators to give a more accurate depiction of what you will be required to pay.

Net Price CalculatorNet Price Calculator

Net Price CalculatorNet Price Calculator

Net Price CalculatorNet Price Calculator

Scholarships

Scholarships

Scholarship ListScholarship List

EHS Scholarship List

EHS Scholarship List

Students should start with their colleges

Pay attention to the details! Plan ahead Scholarships are a lot of work Keep applying!

Students should start with their colleges

Pay attention to the details! Plan ahead Scholarships are a lot of work Keep applying!

Scholarship Applications

Scholarships: Where to start?

Scholarships: Where to start?

Most award packages are provided directly from the college or university - especially private schools.

Students exhibiting financial need will often receive additional grant money from the United States government typically in the form of a Pell Grant.

Scholarships website are a great way to search for private based scholarships, but beware aware- you should never pay to apply for a scholarship.

Scholarships requirements typically include one of the following categories: financial need, merit recognition, or special talent or affiliation.

Most award packages are provided directly from the college or university - especially private schools.

Students exhibiting financial need will often receive additional grant money from the United States government typically in the form of a Pell Grant.

Scholarships website are a great way to search for private based scholarships, but beware aware- you should never pay to apply for a scholarship.

Scholarships requirements typically include one of the following categories: financial need, merit recognition, or special talent or affiliation.

College Opportunit

y Fund

College Opportunit

y Fund

College Opportunity Fund

College Opportunity Fund

CollegeInColorado.org

CollegeInColorado.org

• April 2012- student loan debt surpassed credit card debt for the first time in our history.• Students are considered adults when they arrive on the college campus. Parents may speak with college representatives regarding tuition payments- but little else.• A growing number of students are graduating in 6 years- as opposed to 4 years (traditional model).• Students may drop a class (or two) per semester if they choose (without parent permission) and remain a full-time student.• For some students, loan debt is not a ‘real’ concept.

• April 2012- student loan debt surpassed credit card debt for the first time in our history.• Students are considered adults when they arrive on the college campus. Parents may speak with college representatives regarding tuition payments- but little else.• A growing number of students are graduating in 6 years- as opposed to 4 years (traditional model).• Students may drop a class (or two) per semester if they choose (without parent permission) and remain a full-time student.• For some students, loan debt is not a ‘real’ concept.

Some additional thoughts

Questions?Your Senior Conference is

just around the corner.

Questions?Your Senior Conference is

just around the corner.