Good way to get the conversation started and also to compare your results with this recent Junior Achievement Survey:

• How do you expect to pay for college? [only select ONE answer; editor’s note: not sure this is great question, since in reality most students rely on all four sources]
  • Scholarships and grants will cover most of my costs
  • Expect financial aid help from parents and families
  • Plan to work to earn money for college
  • Anticipate taking out student loans
• How has the talk about student loan debt affected your thoughts on college?
  • I will figure out a way to go to college without student loans
  • I will go to community college, technical school instead
  • I don’t know/no opinion
  • I will borrow as much as needed, regardless of cost
  • I am less likely to go to college now
• If someone borrows more money for college than they are able to pay off, who should fix it?
  • The borrower
  • The government
  • The college
  • The lender
• Do you think you will make more than $35,000 per year in your first job?
  • Yes
  • No

Better yet, have your students answer these questions BEFORE and AFTER your Paying for College unit and see how much their answers change. For example, in the national JA survey, 11% of students expect to take out student loans while current data show that about 70% of college grads have student debt. Grounding your students in reality is an incredible gift as they make the most important financial decision of their young lives.

_________

Check out the NGPF Unit on Paying for College

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.