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Questions and Answers
Questions and Answers
What is mentorship?
What is mentorship?
A developmental partnership through which one person shares knowledge, skills, and perspective to foster the personal and professional growth of someone else.
What is a grant?
What is a grant?
A form of federal or state financial aid that does not need to be repaid, needs based, free money.
What is work study?
What is work study?
A program that allows students to work part-time while continuing their studies, provided by schools, pay directly to student or pay to their tuition.
What is an associate's degree?
What is an associate's degree?
What does FAFSA stand for?
What does FAFSA stand for?
Is 'good debt' a money myth that portrays student loans as the only financial option for college funding?
Is 'good debt' a money myth that portrays student loans as the only financial option for college funding?
What are scholarships?
What are scholarships?
What is a trade school?
What is a trade school?
Our culture thinks student loan debt is normal and that it's an acceptable way to pay for college.
Our culture thinks student loan debt is normal and that it's an acceptable way to pay for college.
A four-year degree is necessary regardless of what career you're pursuing.
A four-year degree is necessary regardless of what career you're pursuing.
What is the total estimated student loan debt outstanding in the U.S.?
What is the total estimated student loan debt outstanding in the U.S.?
Which of the following is NOT a good option when it comes to paying for your education: Ask your parents to take out a loan?
Which of the following is NOT a good option when it comes to paying for your education: Ask your parents to take out a loan?
Which of the following are ways that you can invest in yourself? (Select all that apply)
Which of the following are ways that you can invest in yourself? (Select all that apply)
Explain how you can get an education debt-free after high school.
Explain how you can get an education debt-free after high school.
Based on what you've learned, do you believe it is realistic to graduate debt-free? Why or why not?
Based on what you've learned, do you believe it is realistic to graduate debt-free? Why or why not?
Write down three reasons why you should avoid student loans.
Write down three reasons why you should avoid student loans.
Select one of the student stories and describe the effect student loan debt had on that person's life.
Select one of the student stories and describe the effect student loan debt had on that person's life.
What excites you the most about life after high school?
What excites you the most about life after high school?
Questions and Answers
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Flashcards
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Flashcards
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Study Notes
Study Notes
Key Terms and Definitions
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Mentorship: A developmental partnership where knowledge, skills, and perspectives are shared to facilitate personal and professional growth.
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Grant: Financial aid from federal or state sources that does not require repayment; considered need-based and a form of free money.
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Work Study: A program enabling students to work part-time while studying; payment can go directly to students or be applied to tuition costs.
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Associate's Degree: An undergraduate degree awarded after a two-year college course.
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FAFSA: An annual form filled out by current and prospective college students to assess eligibility for financial aid.
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"Good Debt": A misconception suggesting that student loans are the only feasible option for financing college education.
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Scholarships: Non-repayable, merit-based financial aid awarded for academic, athletic, or other achievements.
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Trade School: An institution focusing on vocational training tailored to specific careers, rather than traditional liberal arts education.
Cultural Perspectives and Myths
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Student loan debt is often normalized within culture, perceived as an acceptable method for financing college education.
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The belief that a four-year degree is required for every career path is challenged; not all professions necessitate a bachelor's degree.
Financial Insights
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The total estimated outstanding student loan debt in the U.S. is approximately $1 trillion.
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Advising against taking out loans, particularly suggesting not to ask parents for financial support through loans.
Self-Investment Strategies
- Methods to invest in oneself include mentoring, reading, and surrounding oneself with like-minded individuals.
Debt-Free Education Approaches
- Achieving a debt-free education after high school can be accomplished through scholarships, cash payments, selling possessions, and obtaining grants, steering clear of loans.
Realism of Graduating Debt-Free
- Graduating debt-free is feasible, contingent upon securing scholarships and grants.
Reasons to Avoid Student Loans
- Debt: Loans lead to financial burdens as all earnings are directed towards repayments.
- Interest: Borrowers repay not only the principal loan amount but also accrued interest.
- Stress: Managing finances and debts can lead to anxiety, hindering enjoyment of life.
Impact of Student Loan Debt
- Student loan debt can adversely affect personal relationships and overall financial health, often leading to prioritization of debt repayment over essential living expenses.
Life After High School Excitements
- The prospect of employment and financial responsibility, along with independence, is a key motivator for life after high school.
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