objectives
Students determine the differences between scholarships, grants, and loans.
materials
Device with internet capability (Part 1)
Note book and pen (Part 1)
Contents for Lesson 2: Discovering Money: Scholarships, Grants, and Loans
Starter
3 Minutes
Rate with fingers from 1-5 on how confident you are in your knowledge about how people living in Australian’s pay for Post-Secondary Education.
Part I: Scholarships, Grants, and Loans! Oh My!
10 Minutes
Purpose: Students determine the differences between scholarships, grants, and loans and identify questions about financial aid to guide their research.
Research terms such as HECS-HELP, FEE-HELP, SA-HELP and CSP Commonwealth Supported Place. Write notes about what is and is not covered. Research the differences in payment options for Australian Citizens and Non-Australian Citizens. Brainstorm questions about financial support for Post-Secondary Education to guide your research. Some Post-Secondary Education is subsidised by State and Federal Governments. Research what is available in your state.
Create a shared document with your class to have as a Master List of information.
Conclusion
2 Minutes
Elicit students’ opinions regarding how this lesson has changed their thinking about pursuing a college education. Elicit from them the following key points that were taught in this lesson:
- There are many different ways to pay for a college education.
- There is money for college available from schools; local, state, and federal governments; and the private sector. There are also scholarship contests that students can enter.
- Applying for any kind of financial aid involves research and filling out forms carefully, honestly, and on time.
- What is financial aid? Why is it important to start thinking about financial aid now?
- Explain the differences between scholarships, grants, and loans.
- List and describe five sources of financial aid.
Extensions for Lesson 2: Discovering Money: Scholarships, Grants, and Loans
Addressing Multiple Learning Modes
Ask students to create a timeline of when Post Secondary Study Applications are due relevant to your study options.
Writing in Your Journal
Have students begin a journal entry with, “A Post-Secondary education is worth….”
Using Technology
Have students research scholarships available at a range of Post-Secondary Study Options.
Homework
Ask students to create a budget for one semester of college, including tuition, books, room and board, and entertainment.
Have students share the budgets they have created.
Finance Investigation
Ask students to create a budget for one semester of Post-Secondary Education including a casual job, education supplies, transport costs, living expenses, board/rent, Student Amenities Fees, and entertainment. Students compare budgets.
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