/ Unit Planner: PayingforCollege
Personal Finance Virtual 12
Thursday, October 6, 2016, 6:25AM /
High School2016-2017Mixed-Grade High SchoolBusiness & CareersPersonal Finance Virtual 12 (C)Week 15 - Week 16

Abrams, Linda; Dexter, Christopher; Drelick, Brian

Transfer
Standards
NJ: 2016 SLS: Literacy in History/Social Studies, Science, & Technical Subjects 6-12
NJ: Grades 9-10
Reading: History/Social Studies
Integration of Knowledge and Ideas
NJSLSA.R7 Integrate and evaluate content presented in diverse formats and media, including visually and quantitatively, as well as in words.
RH.9-10.7. Integrate quantitative or technical analysis (e.g., charts, research data) with qualitative analysis in print or digital text, to analyze information presented via different mediums.
NJ: 2014 SLS: 21st Century Life and Careers
NJ: Grade 12
9.1 Personal Financial Literacy
Strand A: Income And Careers
9.1.12.A.3 Analyze the relationship between various careers and personal earning goals.
Strand B: Money Management
9.1.12.B.1 Prioritize financial decisions by systematically considering alternatives and possible consequences.
9.1.12.B.2 Compare strategies for saving and investing and the factors that influence how much should be saved or invested to meet financial goals.
Strand C: Credit And Debt Management
9.1.12.C.3 Compute and assess the accumulating effect of interest paid over time when using a variety of sources of credit.
Copyright © State of New Jersey, 1996 - 2016.
Enduring Understandings / Big Ideas
  • College provides better prospects for the future, both financially and in personal growth
  • When researching colleges, look for the Net Price instead of the Sticker Price - it is what you will actually pay
  • Grants and scholarships are "free money" while loans must be repaid.
  • Filling out the FAFSA and researching scholarships enables you to get the most free money possible.
  • Always pursue Federal loans first, then look forcost-saving measures, and then explore private loan options.
  • Avoid borrowing more in student loans than your expected first year salary.

Essential Questions
  • Is college really really worth it?
  • Should I go to a community college first?
  • Do I really need 20 years to pay off my college loan?

Student Learning Objectives
  • Explain the potential quantitative and qualitative value of a college education
  • Describe the costs of a college education
  • Distinguish between the sticker and net price when it comes to college costs.
  • Outline the pros and cons of various methods of payingforcollege
  • Understand the purpose of the FAFSA in securing financial aid
  • List the items required to file the FAFSA
  • Analyze the current trends of increasing student loan debt and its impact on students
  • Explain key strategies to be a responsible borrower
  • Identify the basic features and differences between federal and private student loans
  • Research average student loan debt at colleges and compare it to potential first year salaries
  • Explain how changes in loan debt, interest rates and monthly payments affect the time it takes to pay off student loans

Guiding Questions
  • What is the "Sticker Price" of college?
  • What is the difference between a grant and a loan?
  • What is the difference between federal and private student loans?
  • Does everyone get merit based aid?
  • What is a Pell grant?

Assessments
Paying for College Test
Summative:Test: Test
Final Test
Quiz.doc
College Day 1
Formative:Test: Test
4 Question quiz
Activities / Strategies
PayingForCollege Activity
FAFSA Activity
Researching College Costs - Private vs. Public
5.1 Sticker Price vs. Net Price
5.3 Types of Student Loans
5.1 Paying for College Basics.docx
5.2 FAFSA Basics.docx
5.3 Student Loans.docx
5.1_Sticker Price vs. Net Price.docx
5.3 _ Types of Student Loans Activity.docx
Resources

Modifications / Differentiated Instruction

Atlas Version 8.1.1

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