Chapter 5 Life After High School Explore Examine

Chapter 5: Life After High School

Explore Examine the charts, graphics, and reading excerpts in Chapter 5: Life After High School. o Make a list of questions you would like to have answered as we go through the chapter.

Introduction WB: Before You Begin, pgs. 102 -103 o Review the Learning Outcome objectives and Key Terms o Complete the “Before” column on the “Measure Your Progress” chart Journal: Not every career requires a four-year degree. 1. 2. 3. Have you researched the education requirements for your career choice? If so, what education options do you have? If not, research the education requirements for your career choice and write them in your journal.

Beware and Be Wise Section 1

Beware and Be Wise Video 1. 1 (7 minutes): Why People Invest in Themselves Journal: 1. What is your plan after high school graduation?

Discussion Questions What are some ways in which you can invest in yourself? o Read a lot of books – leaders are readers o Avoid spending too much time on distractions that in no way enrich your life. o Surround yourself with people who have a positive influence on you. o Find a mentor. In what ways can you do a better job of investing in yourself now?

Beware of the Student Loan Myth Video 1. 2 (10 minutes): Pay Cash for College Journal: 1. Why might people refer to student loans as “good debt? ”

Discussion Questions Review: List the first three Foundations. What is the fourth Foundation? o Save $500 in an emergency fund, get out of debt, pay cash for your car. o Pay cash for college. What is the student loan myth? o Believing that student loans are “good debt” because they are a path to getting an education. o You can get your education without becoming a slave to debt.

Analogy Activity Dave uses the analogy that “piling up student loans throughout your college career is like keeping a monster locked in your closet. ” Draw a picture representation of the student loan monster!

Activity Activity: Beware of the Student Loan Myth (30 minutes)

Start With the End in Mind Section 2

Start With the End in Mind Video 2. 1 (6 minutes): Start With the End in Mind Journal: 1. Imagine if your reality at age 24 was that you were $70, 000 in debt but your income was only $30, 000. Write down some words describing how you might feel.

Discussion Questions What are some excuses people make for taking out student loans? o Tuition is too expensive; they have no other options; everyone takes out student loans; student loans are good debt because I’m buying an education with them. What percentage of student loan borrowers had difficulty paying their student loan? o 63% either had to postpone payments or became delinquent on repayment.

Activity Activity: Don’t Steal From Your Future (30 minutes)

Cash-Flow Your College Education Section 3

What Your Credit Score Really Measures Video 3. 1 (10 minutes): What your credit score really measures. Journal: 1. Has money affected your decision on whether or not to attend college? Why or why not?

Discussion Questions What does it mean to cash-flow your college education? o Pay as you go, instead of using credit or debt. What are things you can and should be doing right now in order to cash-flow your post-high school education? o Plan ahead – know how much money you’ll need and consider all education options in order to determine which is most costeffective. o Get good grades! o Consider all college living options in order to determine which is most cost-effective.

Activity Activity: Case Study: Ethan and College Expenses (20 minutes)

Applying for Financial Aid Video 3. 2 (7 minutes): Applying for Financial Aid Journal: 1. What money-saving options will you consider in order to cash -flow your college education?

Discussion Questions Why is it important to fill out the FAFSA (Free Application for Federal Student Aid) even though you are not going to take out student loans? o The FAFSA is the first step to receiving any kind of financial aid, including scholarships or grants. What are grants? o Grants can be offered by both federal and state governments and are usually need-based. o Like scholarships, grants are free money!

Discussion Questions What are some reasons you may need to visit your financial aid office? o If your financial situation has changed or if some other financial emergency arises. Will working through college mean that you cannot focus on being a good student? o Research shows that working more than 20 hours a week may have a negative effect on your grades, but students who work up to 20 hours a week typically have higher GPA’s.

Discussion Questions What does living on a zero-based budget have to do with cash-flowing your college education? o Money will be tight during college and managed money can go farther. What are your two main goals while in college? o Stay in school o Stay OUT of debt In what ways can you save money by attending a college close to home? o You could live, eat meals, and do laundry at home, save on travel expenses for home visits, etc.

Interview someone you know who graduated from, or went to, college using student loan debt. Write a case study similar to the ones highlighted in this chapter explaining the realities of using student loans to fund your college education.

Education Options for the st 21 Section Century 4

Be a Lifelong Learner Video 4. 1 (10 minutes): Be a Lifelong Learner Journal: Think about what careers you might be interested in pursuing. 2. What type of education or training will you need to enter that field? 1.

Discussion Questions Do all career paths require a four-year education? o No. There a variety of education options depending on your career path. How do you know what education and career path is right for you? o If you do your research, you can be sure to find the education and career path that meets your specific passions and strengths as well as your financial goals. o It’s important to assess what your interests are, how you like to learn, and what motivates you.

Discussion Questions What are some important things to consider if you are thinking of starting your own business? o There are risks involved, you should create a solid business plan and establish financial resources first, stick with a debtfree plan, be enthusiastic, and be prepared for lots of hard work and some bumps in the road. What are some post-secondary education alternatives to a four year degree? o Trade school, certifications, self education, on-the-job training, associate’s degree, and military.

Activity Activity: Cost of Living Calculator (20 minutes)

Chapter Summary Budget Builder – foundations. U. com/5 Complete the “After” column on the “Measure Your Progress” chart, pg. 103. Take Action Challenge, pg. 125 Study Guide: Money in Review, pgs. 126 -127