CIVICS AND ECONOMICS



Budgeting for the Future: Paying for Education

College tuition has increased tremendously in ne the United States in the last thirty years. More and more students are forced to compete for limited enrollment spaces. Students lucky enough to get into a 4 year college face daunting student debt when they graduate. This exercise will force you to find out how much it will cost you to pay for education.

Part I: Career ()

Pick a career and look up the average salary for that career and the educational requirements. You can use the website to help you or use a google search.

Career: __________________ Average Salary Per Year: ______________

Education Required (2 year degree, 4 year degree, Masters, Doctorate, etc.) _____________

Part II: Tuition

Directions: For each school begin researching the total cost for a 4 year degree (Community colleges are 2 years)

1) Google your chosen school and find its official site

2) Click “Prospective Students” or “Future Students”

3) Find a link (or one that is named close to it) for “Costs/financial aid/fees”

4) Research the total cost (Tuition, Books, Fees, Room and Board) and find a total

#1 One in-state North Carolina (UNC-CH, NC State, UNC-Wilmington, Appalachian State are all state schools)

NAME OF SCHOOL YOU RESEARCHED: _____________________

A. NC In-State University Tuition for one year ____________

B. Books, Fees, Room and Board for one year ____________

C. Total Costs for One Year (Add A and B) ____________

D. Total 4 year cost (Multiple C by 4) ____________

#2 One Private School (Meredith, Duke, Wake Forest, Shaw are private)

NAME OF SCHOOL YOU RESEARCHED: ______________________

A. Private University Tuition for one year ____________

B. Books, Fees, Room and Board for one year ____________

C. Total Costs for One Year (Add A and B) ____________

D. Total 4 year cost (Multiple C by 4) ____________

#3 Community College (you can use Wake Technical or Vance-Granville)

NAME OF SCHOOL YOU RESEARCHED: ______________________

A. Community College Tuition for one year ____________

B. Books, Fees, Room and Board for one year ____________

C. Total Costs for One Year (Add A and B) ____________

D. Total 2 year cost cost (Multiple C by 2) ____________

Part III: Loan Repayment

Directions: For each school you researched follow the directions to find out how much money your monthly payment will be

1) Go to calculators

2) Click on loan calculator

3) Using your costs from the schools researched above type in the total cost for 4 years (2 years for community college)

4) Interest payment is 3.4%

5) You are in repayment mode

6) Use a 10 year repayment window

#1 NC In-State University

Monthly Payment___________________________________

Total Interest Paid___________________________________

#2 Private University

Monthly Payment___________________________________

Total Interest Paid___________________________________

#3 Community College

Monthly Payment___________________________________

Total Interest Paid________________________________

Part IV: Cost of Living

Use the expenses list linked to the weebly to figure out about how much you would spend A MONTH in the following area. (Assume you are single with no children.)

MONTLY INCOME (Based on career chosen in Part I):

| |Expense (monthly) |

|Housing | |

|Student Loan | |

|Food |$ 400.00 |

|Transportation (if you own a car, include, gas, insurance, and monthly| |

|payment) | |

|Utilities (Gas, Water, Electric) | |

|Communications (Phone, Internet, Cable) | |

|Entertainment | |

|Savings | |

|Personal Care/Medical | |

|Total: | |

| | |

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