Humble Independent School District



KeyTitle: Lesson 8- I Got into College! How Do I Pay For It?Engage:5 minutesVideo - Listen to Elijah and Alexandra talk about how theygot the money they needed for collegeExplore:20 minutes Print out lesson (p. 2-4) for each group from this website: pair should be able to read (5 minutes), fill in the chart (10 minutes), and then compare their answers with another pair (5 minutes) in order to find out about the various methods to pay for college.Brief DescriptionDifferent TypesWho Qualifies?Does it Have to be Repaid?GrantsFree money awards given to college studentsPell GrantsAwarded based on financial needsEveryone who applies and shows needNoAcademic GrantsAwarded based on grades/achievementsScholarshipsFree money awards given to specific groups of studentsLike academic grants, except money is given to school not studentEveryone can apply only very few winNoWork-StudyCollege campus program for students to work to earn money for collegeAwarded based on needsEvery student at college can apply; job on campusNoLoansMoney awards that accrues interest on the amount borrowed.Subsidized (federal) loansinterest starts after out of schoolEveryone can applyYesUnsubsidized (federal) loansinterest starts as soon as acceptedPrivate loanshigher rates, it is through outside companiesSavingsMoney saved privately by student and/or student’s familyUsually from student’s own money or monetary gifts from family membersEveryone should start saving at an early age!!!No, usually To qualify for financial aidlike grants, work-study, and loans you must fill out an application called a FAFSA!Explain and Elaborate:15 minutes Five pairs will volunteer to summarize the correct information for each of the five methods to the whole class and the teacher will speak to his/her own experiences regarding each method.KeyExtra summary notes for teacher: -5016529845609600787401155700144780GrantScholarshipScholarshipGrantScholarshipGrantBothGrantKeyEvaluate: 10 minutes1Which of the following is not a form of financial aid a student can received while in college?AgrantsBwork-studyCloansDa checking account2Which of the following statements about saving for college is not true?AYoung children who have savings accounts are 4-7 times more likely to attend college.BSavings account can earn compound interest and it is a good method to cover some of the cost of obody in America saves for college!DWhile 9 out of 10 parents expect their middle school children to go to college, only 3 out of 10 parents have started saving for their child’s college fund3In order to qualify for financial aid, what is the name of the application you must fill out?AFree Application for Federal Student AidBFree Assets for Fun Student AidCFree Application for College ScholarshipsDa bank loan application4How are Pell grant similar to work-study?APell grants is a form of financial aid.BPell grants are awarded based on financial need.CBoth A and C are correctDPell grants need to be repaid while work-study does not need to be repaid.5How are Academic grants and scholarships similar?AYou may receive them in additional to any Pell grant you get.BThey are awarded based upon your grades or other kinds of achievements.CBoth A and B are correct.DAcademic grants need to be repaid while scholarships do not need to be repaid.6Which of the following statements about student loans is true?ASubsidized loans accrue interest the moment a student accepts the loan.BPrivate loans tend to have higher interest rates than federal student loans.CUnsubsidized loans does not accrue interest while a student is still in school.DFederal student loans include subsidized, unsubsidized, and private student loans.Title: Lesson 8- I Got into College! How Do I Pay For It?Engage: 5 minutesVideo - Listen to Elijah and Alexandra talk about how theygot the money they needed for collegeExplore: 20 minutes Print out lesson (p. 2-4) for each group from this website: pair should be able to read (5 minutes), fill in the chart (10 minutes), and then compare their answers with another pair (5 minutes) in order to find out about the various methods to pay for college.Brief DescriptionDifferent TypesWho Qualifies?Does it Have to be Repaid?GrantsPell GrantsAcademic GrantsScholarshipsWork-StudyLoansSubsidized (federal) loansUnsubsidized (federal) loansPrivate loansSavingsTo qualify for___________like grants, work-study, and loans you must fill out an application called a _______!Explain and Elaborate: 15 minutes Five pairs will volunteer to summarize the correct information for each of the five methods to the whole class and the teacher will speak to his/her own experiences regarding each method.Evaluate: 10 minutes1Which of the following is not a form of financial aid a student can received while in college?AgrantsBwork-studyCloansDa checking account2Which of the following statements about saving for college is not true?AYoung children who have savings accounts are 4-7 times more likely to attend college.BSavings account can earn compound interest and it is a good method to cover some of the cost of obody in America saves for college!DWhile 9 out of 10 parents expect their middle school children to go to college, only 3 out of 10 parents have started saving for their child’s college fund3In order to qualify for financial aid, what is the name of the application you must fill out?AFree Application for Federal Student AidBFree Assets for Fun Student AidCFree Application for College ScholarshipsDa bank loan application4How are Pell grant similar to work-study?APell grants is a form of financial aid.BPell grants are awarded based on financial need.CBoth A and C are correctDPell grants need to be repaid while work-study does not need to be repaid.5How are Academic grants and scholarships similar?AYou may receive them in additional to any Pell grant you get.BThey are awarded based upon your grades or other kinds of achievements.CBoth A and B are correct.DAcademic grants need to be repaid while scholarships do not need to be repaid.6Which of the following statements about student loans is true?ASubsidized loans accrue interest the moment a student accepts the loan.BPrivate loans tend to have higher interest rates than federal student loans.CUnsubsidized loans does not accrue interest while a student is still in school.DFederal student loans include subsidized, unsubsidized, and private student loans. ................
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