Transcript Financial Education for College Access and Success

Personal Finance: Module 1 Lesson 2
Prepare for the Journey
Section 2.1 – What Are My Options?
Prepare for the Journey • Slide 2
Objectives
Students will

understand the benefits of completing
a postsecondary program of study,

explore and compare postsecondary options
and programs,

explore and compare types of postsecondary
institutions, and

understand the importance and impact of
accreditation and placement rates.
Prepare for the Journey • Slide 3
Glossaries
 KentuckianaWorks College Access Center
 Iowa College Access Network
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Why should I continue my education?
President’s Postsecondary Education Promise
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Why go to college?
Prepare for College
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5 ways education pays
I will buy a car. A home. The latest
fashions. I will travel the world.
I will stand on my own two feet.
I will be able to take care of my family
through both good times and bad.
I will pass my experiences on to my
children. I will inspire them to achieve
even more than I do.
I will bring people together. I will
speak on their behalf. I will make
change happen.
I will have the energy to juggle work
and family. To keep up with my friends.
To enjoy the world around me.
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Prepare for the Journey • Slide 7
“
A college degree
or postsecondary
certificate has never
been more necessary
for success in
”
the global economy.
U.S. Department of Education,
Press Release, October 6, 2011
Prepare for the Journey • Slide 8
What are my choices?

Apprenticeship (paid, on-the-job training)

Technology “tech” center (certificate/diploma)

Community college (2-yr. degree and certificate programs)

College/university (4-yr. degree programs)

Graduate degree (master’s, doctoral, and professional)
Credential levels explained
Definition of Academic Degrees
Prepare for the Journey • Slide 9
Apprenticeships
 Formal
program that features PAID on-the-job
training and classroom instruction
 Skilled,
in-demand occupations
 Receive
a professional certificate
Prepare for the Journey • Slide 10
Apprenticeships
REGISTERED
APPRENTICESHIP
My Next Move
Prepare for the Journey • Slide 11
27 Technology Centers in Tennessee

50+ distinct Certificate Programs

A well-trained, skilled workforce is in demand!

Generally takes two years (or less) to complete

Smaller campus with a set course schedule

More affordable

Open admissions policy!
NPR interview about Tennessee’s
Tech Centers
A Possible Model for Higher Education
Prepare for the Journey • Slide 12
13 Community Colleges in Tennessee

Offer Associate’s Degrees and Certificate Programs

Require general education courses
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Programs generally take two years to complete

More affordable post-secondary degree option

Open admissions!
White House Summit on Community Colleges
Community College Summit
Prepare for the Journey • Slide 13
Four-Year Colleges & Universities

Some careers require a bachelor’s
degree

Generally takes four years or
more to complete

Require general education courses

Choose from public or private
institutions
Public University Example
Major and Career options:
Choosing a Major at Austin Peay State
University
Private University Example
Major and Career options:
Courses of Study at Vanderbilt
University
Prepare for the Journey • Slide 14
Graduate/Advanced degrees
Some career paths require that you continue on
to earn a more advanced degree!

Master’s degree – degree earned after a bachelor’s degree
(e.g. principal, school psychologist)

Doctoral degree – even more advanced degree that follows
a bachelor’s or master’s degree (e.g. biochemist,
university professor)

Professional degree – degree required for work in specific
fields (e.g. lawyer, doctor, dentist, pharmacist). To receive a
professional degree, you must first earn a bachelor’s degree.
Prepare for the Journey • Slide 15
Private “for-profit” institutions

These institutions have a profit motive (in business to
make money). Also called proprietary schools.

Generally, course credits will not transfer to other schools.

Tuition is usually higher than a similar program at a public
institution.

Some for-profit institutions may not be eligible to receive
scholarships and other financial aid which can result in
a much higher student loan debt for the student.
NEVER agree to student loans if you’re not
100% sure you can comfortably pay them back!
For-Profit Deceptive Practices Revealed
Student Loan Repayment Calculator
Prepare for the Journey • Slide 16
Before signing on the dotted line…

Carefully review all paperwork, especially withdrawal
and refund policies

Conduct your own research—
is the education worth the price?

Check job placement rates—do employers recognize
and readily accept credentials from the institution?

If your career choice requires a state license or
certification—does the institution meet your state’s
licensing requirements?
Choose A School Carefully
Prepare for the Journey • Slide 17
Accreditation
Why do I care
about accreditation?
Because it ensures that an
education provided by an institution
of higher education meets
acceptable levels of quality.
— U.S. Department of Education
Accreditation search tool
Database of Accredited Postsecondary
Institutions and Programs
Prepare for the Journey • Slide 18
Diploma mills
What is a diploma mill?
An institution of higher education that is not
accredited and grants diplomas which are
worthless because of the lack of proper standards
— Webster’s Third New International Dictionary
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CollegeNavigator
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Prepare for the Journey • Slide 21
CollegeNavigator search results
(16 months)
$38,165
Prepare for the Journey • Slide 22
Before choosing a school,
think carefully about…

School costs and net price

Work flexibility

Financial aid

Statistics that count

Academics
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Enrollment contracts
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Accreditation

Refund policies

Admission requirements

Distance learning or
online degrees

School location, size,

Past complaints and
reputation
and campus life
Things to Consider
Prepare for the Journey • Slide 23
Financial Education for
College Access and Success
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and the Department of Education is the funding agency.
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