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 should be able to

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.
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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
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Apprenticeships
 Formal program that
features PAID
on-the-job training and
classroom instruction
 Learn about skilled,
in-demand occupations
 Receive a professional
certificate
http://www.mynextmove.org/
Prepare for the Journey • Slide 10
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 Tech Centers
A Possible Model for Higher Education
Prepare for the Journey • Slide 11
13 community colleges in Tennessee

Offer associate’s degrees and certificate programs

Require general education courses

Programs generally take two years to complete

More affordable post-secondary degree option

Open admission
White House Summit on Community Colleges
Community College Summit
Prepare for the Journey • Slide 12
Colleges and universities

Some careers require
a bachelor’s degree

Generally takes four
years to complete

Require general
education courses

Choose from public or private
institutions
Examples of university majors
and careers:
Choosing a Major at Austin Peay
State University
Prepare for the Journey • Slide 13
Graduate programs
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 14
Private, “for-profit” institutions

Institutions with a profit motive (to make money).
Also called proprietary schools.

As a general rule, course credits do not transfer.

Tuition is usually higher than at a public institution
(plus some institutions may not be eligible to receive
your scholarships and other financial aid) which may
result in higher student loan debt.
NEVER agree to or sign up for student loan debt
that you can’t comfortably pay back!
For-Profit Colleges: Undercover Testing
For-Profit Deceptive Practices Revealed
Prepare for the Journey • Slide 15
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?
Prepare for the Journey • Slide 16
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 17
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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CollegeNavigator search results
(16 months)
$38,165
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Before choosing a school,
think carefully about…

School costs and net price

Work flexibility

Financial aid

Statistics that count

Academics

Enrollment contracts

Accreditation

Refund policies

Admission requirements


School location, size,
Distance learning or
online degrees

Past complaints and
reputation
and campus life
Federal Student Aid
Things to Consider
Prepare for the Journey • Slide 22
Financial Education for
College Access and Success
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and the Department of Education is the funding agency.
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