You’re going to College…Now What?

Make a Plan!

• Be up front about asking which college expenses they will cover and which they expect you to pay

• Consider monthly payments and your costs

• Do a budgeting worksheet

Talk to your Parents!

Choosing a Bank• ATM Fees

Sometimes even local banks will charge you for using an ATM

• Minimum BalanceWatch for a fee if your account drops below a minimum

balance

• Number of ChecksSome banks only allow you to write 5-10 checks per

month

• Monthly FeesTry to find a bank that does not charge for having an

account

TRUE or FALSE?

Buying a latte 5 days a week over the next 2 years will cost you less than a new MacBook

Air.

False-It will cost

more!!!

Costs to

Consider…

TUITION: Financial Aid

Most of the time,

Financial Aid is based on

NEED

• Grants/ScholarshipsThis is FREE money. You don’t

ever have to repay it.

• LoansNeed to be repaid.

• Work StudyYou work for the school to

help pay tuition.

• FAFSA www.fafsa.ed.gov

Cost of School

-Your Contribution

Your Need

TEXTBOOKS…

The average college student spends about $1,000/year

on textbooks.

Here are a few money savers:• Share with a friend or classmate• Shop early and buy used• Ask upperclassman• Check the library • Shop on-line

are EXPENSIVE!

Monthly IncomeWork-Study JobMonthly Withdrawal from

SavingsLoan IncomeParents

Total

Monthly ExpensesLaundryBooksPersonal ItemsTelephoneEntertainmentFoodSchool SuppliesTransportationClothing

Total Now add up both columns,

If your expenses win the “who’s bigger?” game,

get a second job!

Having a Plan Starts with a Budget

Count What You Have• Wage• Interest Earned Track What You Spend• Clothes• Food• Entertainment• Rent or Mortgage• Utilities, electric, gas, water, sewage, cable, phone,

garbage• Transportation, gas, car payment, insurance, • Taxes

Cosby ShowSeason 1.

“Regular People”

If you have any questions, please contact the PICPA at schools@picpa.org!

Thank You, Good Luck, and Congratulations

!