What you need to know regarding college finances
Lessons on savings and banking basics, loans, and paying for college.
Lesson 1: Saving and Banking Basics
Students learn the importance of saving money as a means to achieve their goals and as a way to create security in the event of unexpected circumstances or emergencies. Students will determine what ‘stage of change’ they are in terms of savings. They will also explore the benefits of starting their savings plan early in order to save money for long-term goals, like financial well-being in retirement. We explore various banking products and services, such as savings accounts, checking accounts, CD’s, and money market accounts. They will identify ‘Signature Strengths’ (as outlined in the Financial Decision Making Using Your Strengths course) and strategies to transcend money scripts that may have a negative impact on their ability to save. They will also identify the best places to save money to achieve their goals and objectives.
Lesson 2: Loans
We delve further into different types of loans. Students examine how loans can help (or hinder) their financial goals, and learn how to shop around for the best loans. In some of the exercises associated with the lesson, students shop around for the best auto and home loans. We also examine predatory lending practices, such as pay-day lenders and check cashing operations.
Lesson 3: Paying for College
Students will learn how to make the best choices when it comes to paying for college. Students will learn how college is relevant to their economic future. They will learn how college funding works, improving their chance of successfully navigating the financial aspect of this part of their education. They will also learn key terms regarding financial aid, how to critically read a financial aid offer, and how to look for scholarships.
- Financial journalist and expert for PBS Newshour Weekend, Today Show, Huffington Post, CNN, CNNI, CBS, and Headline New.
- Author of The True Cost of Happiness: The Real Story Behind Managing Your Money. Writer, Dow Jones & Co., Wall Street Journal Television.
- Winner, U.S Department of Ed Excellence in Financial Education award.
- Advisory Committee Member for the Gloria Steinem Endowed Chair for Media, Culture, and Feminist studies at Rutgers University
StartWarm-Up and Review
StartIncome and Education
StartThe Real Cost of College
StartFinancial Aid Terms Continued and Types of Loans
StartFinancial Aid Offers
StartHow to Keep Your Aid! (And Maybe Even Get More!)
StartExit Ticket and Wrap-Up