Preparing Financially for Your Education

Activity:  In this activity, students review information
about three colleges to determine the potential cost for a degree at the three
schools.

You have decided to further your education and you have several options for your college choice.  This is a very important and expensive choice for you.  You know that if you choose any of these schools, your income possibilities will increase and
it will be worth the cost.  What will they cost you for four years?

From the information given on the next page, pick three colleges.  Determine how much it will cost you to attend tose schools until you receive your desired degree (two or four years.)  Determine the annual cost for each category of spending and multiply by the years you will attend the school.

Procedures

1.   Introduce the basic college expenses:  tuition, fees, books, room and board (or rent, utilities and food),
transportation, etc.  Elaborate on the
details about these typical educational expenses. 

2.   Clarify the difference between the types of degrees (associate/2 year, bachelors/4 year,
masters, etc.)  Discuss the differences
in costs between public and private schools.

3.   Introduce the idea
that education is an “investment” in future earning capacity.  Use the chart on education and income in
Chapter 1 to review the advantages of pursuing a post-secondary education.    Review the various ways to begin saving for
college costs.

4.  Review the charts of projected job growth
in Ohio in Chapter 1.  Discuss how this
information may affect choices about future education.