There are many factors that can influence a budget for higher education expenses. Today, we will look at a few scenarios where these factors come into play. Working with a partner or alone complete the "Which College Should I Go To?" worksheet. You or your group should come to a decision about which college to attend. All decisions must be defended with a detailed explanation.

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Part I 1. Your cousin is debating which higher education institution to attend next year. They've narrowed it down to two schools-a private college in the state's largest city located two hours away or the local public university that is fifteen minutes from home. Your cousin is excited about the thrill of going to school in a big city, but the high cost of living concerns them. They have the option of staying home and commuting to the local public university, but they know they will have less freedom. Based on the information in the table below, which option is best for your cousin and why? 2. Your big sister just found out that she got into her dream school! She also got into her "back-up" school. She is comparing financial aid packages and notices that her dream school costs more to attend than the "back up" school. Your parents have saved up enough for her to attend the back up school so that your sister doesn't have to take out student loans, but their savings come up short for her dream school. Based on the information in the table below, which option is best for your sister and why? Cost of attendance $1,425 Work study Scholarships & $19,000 Grants Subsidized loans $5,000 Unsubsidized $5,500 loans Savings Private College $35,000/yr Cost of attendance N/A Dream School $70,000 yr $1,700 Work study Scholarships & $20,000 Grants Subsidized loans $3,500 Unsubsidized $5,500 loans Parent's Savings $40,000 ($10,000 each year) Public University $7,000/yr $1,050 $2,000 $3,500 $5,500 N/A Back-up School $18,000 yr $1,500 $6,500 $5,500 $5,500 $40,000 ($10,000 each year) Part I 1. Your cousin is debating which higher education institution to attend next year. They've narrowed it down to two schools-a private college in the state's largest city located two hours away or the local public university that is fifteen minutes from home. Your cousin is excited about the thrill of going to school in a big city, but the high cost of living concerns them. They have the option of staying home and commuting to the local public university, but they know they will have less freedom. Based on the information in the table below, which option is best for your cousin and why? 2. Your big sister just found out that she got into her dream school! She also got into her "back-up" school. She is comparing financial aid packages and notices that her dream school costs more to attend than the "back up" school. Your parents have saved up enough for her to attend the back up school so that your sister doesn't have to take out student loans, but their savings come up short for her dream school. Based on the information in the table below, which option is best for your sister and why? Cost of attendance $1,425 Work study Scholarships & $19,000 Grants Subsidized loans $5,000 Unsubsidized $5,500 loans Savings Private College $35,000/yr Cost of attendance N/A Dream School $70,000 yr $1,700 Work study Scholarships & $20,000 Grants Subsidized loans $3,500 Unsubsidized $5,500 loans Parent's Savings $40,000 ($10,000 each year) Public University $7,000/yr $1,050 $2,000 $3,500 $5,500 N/A Back-up School $18,000 yr $1,500 $6,500 $5,500 $5,500 $40,000 ($10,000 each year)

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1 Choosing between a private college in a big city and a local public university Consider the following factors Cost of living Calculate the total cos... View the full answer