The Financially Savvy College Student Summer Orientation Advising

The Financially Savvy College Student Summer Orientation, Advising, & Registration (SOAR) Piedmont Virginia Community College Dr. Todd Parks www. pvcc. edu/personal-finance

Cost of attendance In-state resident Out-of-state resident Tuition $4, 650 (15 credit hours x 2) Tuition $9, 948 (15 credit hours x 2) Books and supplies $1, 800 Other fees $140 (15 credit hours x 2) Other fees $770 (15 credit hours x 2) $6, 590 $12, 518 Estimated living expenses $6, 920 Other expenses $4, 500 $18, 010 $23, 938

Payment deadlines

Do you have a plan to pay college expenses? • Financial Aid Office helps students submit the Free Application for Federal Student Aid (FAFSA). • Students may pay tuition and fees in monthly installments for a small fee. • Career Services helps students find jobs, including on-campus positions. • The Educational Foundation awards more than 100 scholarships each year. • Academic Support Services facilitate personal finance workshops. • Academic Advising helps students create an academic plan. • Student Success Office helps students overcome barriers to completion. • Academic coaches and tutors help students succeed academically, minimizing setbacks and reducing time-to-degree.

Financial aid

Financial aid Financial Aid Office • M 136 Main Building • May 14 – August 3 • Monday through Thursday: 8 a. m. – 5: 30 p. m. • Friday: 8 a. m. – 11: 30 a. m. FAFSA workshops • May 26 • June 23 • July 28 Available aid • Federal and state grants • Federal Work Study (FWS) • Subsidized student loans • Unsubsidized student loans

Student loan repayment Limit loans to 1 x expected earnings

The financially savvy college student Most college students dropout for financial reasons. Love your life, not your classmates! Create a budget. Use an app or envelopes to keeps tabs on spending. Live below your means. Avoid debt! Do not fall prey to credit cards. Use cash, not debit. Use debit, not credit.

Simple budget Income • Financial Aid • Wages Expenses • Tuition and fees • Books and supplies • Housing • Dining • Health • Phone • Transportation • Insurance • Other

12 tips from real college students 1. Live at home 2. Get a roommate and cut your housing and utility expenses in half! 3. Carpool or use public transportation 4. Cook your own meals and pack a lunch 5. Shop for used textbooks (BUY THE RIGHT BOOK) 6. Big box stores sell school supplies at a discount in August 7. Shop consignment stores 8. Seek out free entertainment on-campus in the Charlottesville area 9. Join a student club 10. Workout on campus 11. Take advantage of student discounts 12. Pay your bills on time

Real life scenario Item Buy Make Sandwich $8. 75 $2. 27 Drink $1. 75 (soda) $0. 00 (filtered water) Other $0. 00 $0. 75 Tax $1. 08 $0. 16 Total $11. 58 $3. 18 Grocery list • 1/5 lb. deli meat $1. 80 • 2 slices whole wheat bread $0. 21 • 1 slice cheese $0. 26 • 1 apple $0. 40 • 2 oz. carrots $0. 21 • 1 oz. snack crackers $0. 14 $11. 58 - $3. 18 = $8. 40 x 3 x 16 = $403/semester or $806/year

Personal finance goals 1. Create a budget 2. Set aside an emergency fund 3. Make a commitment. For example, I will commit to doing _____ to improve my financial situation. 4. Get an accountability partner 5. Check out www. pvcc. edu/personal-finance for more information