Utah Student Planning Guide Grades 7-8 - page 15

Everydollar
saved
isadollar less you
will have toborrow
togo tocollege.
Everydollar you
borrowwill cost you
twodollars by the
timeyoupayback
the loan.
-Frank Frantozzi,CEO
Planned Financial Services
Start saving
aportionof
your allowance,
birthdaymoney, andany
othermoney you
receive for college. No
matter howmuch
or how littleyou save,
everycentmakes a
difference inaffording
your higher education!
It’sNot Too Early toThink About …
Paying for College
It’s important that you and your family prepare to pay
the costs of college (save, save, save!), butmany students
also take advantage of
financial aid
.
Financial aid ismoney that
helps you pay for 1, 2, 4
or more
years of education beyond high school. Themoney
comes from theU.S. government, the statewhere you live,
the college you attend, or even from private sources. But,
you have to apply
to get it!
There are
two basic types
of financial aid.
“Gift” aid
, such as grants and scholarships, ismoney that
does not have to be paid back.
“Self-help” aid
,
likework-study and loans, ismoney that you
work for or that youwill need to pay back later.
Now is a great time to start thinking about
scholarships, as
you can qualify
based on:
Good
grades
Service
to others
Creative, athletic, or other
abilities
Groupmembership – cultural, ethnic, religious, or other
Visit the
Student Gateway to Federal Student Aid
brought to you by theU.S. Department ofEducation:
Learn how you qualify for aid, how to apply, andmore!
If youwant togo tocollege, and you’rewilling to
workat it, you
can find themoney topay for it
.
As youdevelopyour plan, findout –
What it costs toattend thecollege(s)of your choice
What your parents plan tocontribute, including
whether theyexpect you to liveat home
What characteristicswill earn youa scholarship
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