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COST OF LIVING Learning Targets ? I will explain my total cost of living, including those expenses paid by family members

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COST OF LIVING Learning Targets ? I will explain my total cost of living, including those expenses paid by family members. ? I will research the cost of college for a first-year college student. FINANCIAL LITERACY ? What are your living expenses? ? Brainstorm as a class or with a partner all things in you lives that have a cost that somebody pays ? Share out ideas and record LIVING EXPENSES ? Discuss common themes about living expenses shared ? Goal is to help you develop an understanding of all the costs to cover living COST OF LIVING ? Based on earlier brainstorming- create a list of living costs - paid by both the student and family ? Estimate (roughly) what it would cost for a teenager to live independently for 1 month ? Discuss how students might manage these costs on their own COST OF COLLEGE ? As a college students… ? Living in a dormitory or student apartment, you will cover your costs of living through a combination of working, borrowing money, financial aid, or help from family. ? Compare costs of college ? Use the Cost of College Worksheet to estimate costs for the first year of college ? Each group select a 2-year or 4-year college and research costs for that college. (use Xello, Career Bridge, or the college website for information) COST OF COLLEGE After group creates total estimated cost… ? Each group shares total cost ? Discussion about each category and discrepancies in costs between 2-year and 4-year colleges You and your family will figure out how to pay your college expenses in different ways: ? Savings ? Part-time job ? Scholarships/Grants ? Financial Aid (work-study, grants, subsidized loans) WORK TIME Use this time to: ? Answer the questions on the Cost of Living Journal Page COST OF LIVING COST OF LIVING JOURNAL PAGE NAME: Q1: What percentage of my living costs do I pay and what percentage does my family pay? Q2: How much could I save between now and the end of 12th grade to support my first year of post-secondary education? How would I raise that money? Q3: How do I contribute to my family’s well being, beyond any financial contributions? Answers: Rev 09/2016 Page 1 The Career Guidance Washington Lessons by OSPI are licensed under a Creative Commons Attribution 4.0 International License.