411 On College Education

1. After the Video on Human Capital complete the quiz - email results to me at
kschneider@students.dasd.k12.pa.us

2. Create A google doc titled with your name and 411 on College education then
Complete the following putting all answer on the google doc you created

a. Look at the link bls.gov/emp/ep_chart and explain the relationship between level of
education and average unemployment rate. As education goes up employment
goes down. It decreases.
b. look at the link www.stlouisfed.org/education_resources/personal-finance-101-
chats/
Then answer the following questions:
1. How important is the FAFSA to eligibility for college funding? Is what the
Federal Gov. uses to calculate how much youll receive in loans or grants.
2. What is the difference between a loan and a grant? A loan is what you make
payments on and a grant is the money you dont have to pay back.
3. What is the difference between a subsidized and unsubsidized loan?
4. Why would the government want to know information about income and net
worth of parents? Because they need to know your eligibility.
5. What is EFC? The Estimated Family Contribution
6. Are there deadlines associated with the forms? Make sure you check which
deadlines apply www.fafsa.ed.gov/deadlines.htm Yes there are deadlines.

c. Compare tuition, fees, and estimated students expenses among community

college, public four-year college/university, and private college/university by
clicking on the link to the college navigator (nces.ed.gov/collegenavigator/ ) Write
a short summary of the difference in college costs among the various types of
institutions.
Community Tuition and fees 2016 - $7,230
Estimated student expenses among Community College - $2700
Public 4- $9380 student expenses- $14650
Private College- Tuition- $42470 Student expenses - $14240
The better the school the more expensive it will be.

d. Examine current average wages for at least 3 occupations for which you are
interested,
Tell me the occupations and the annual mean (average) wage for
each. Us the following website: www.bls.gov/oes/current/oes_nat.htm
Look at the link from Payscale.com Find your careers and list the
early career pay.
Ie. Accountant BLS.gov Mean wage = $79,370 Payscale.com early wage = $45,100
1) Child, family, school social worker bls gov. Mean wage $46610
2) Social Worker bls gov Mean Wage $57970
3) Police Officer, bls gov mean wage $61270
 If you are not sure what occupation you would like to pursue, then
they should start with the link: www.bls.gov/k12/

e. Read the article from the ling below https://research.stlouisfed.org/pageone-

economics/uploads/newsletter/2011/Cost_of_Higher_Education_0811_Liber8_
Newsletter.pdf
and answer the following questions:
Question 1: As college costs have risen, how have many students chosen to
pay for college? They all just use loans.

Question 2: How has the cost of obtaining a college education risen

compared to the ability to pay for it (average personal real income)? The
cost has risen 150 percent since 1980. So now more and more students
have taken out more and more loans.

Question 3: To an economist, the true cost of going to college is the

opportunity cost. What is the opportunity cost of attending college?Price of
tuition and housing.

Question 4: In the end, is a college education a good investment? Write a

detailed response using data to support your answer. It can be a good
education as well as a good investment. Cause when you get a good job
you from your good education you can pay off your loans. So it can be both.