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| Date: From: Subject: | 12/1/2011 9:34:06 AM Home School Legal Defense Association HSLDA's Homeschooling Thru High School Newsletter--Financing Future Education |
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#=====---------------------------------------------------------------- HSLDA's Homeschooling Thru High School Newsletter December 2011 --Financing Future Education: Money, Money, Who's Got the Money? ---------------------------------------------------------------------- ---[ Take an Exam. Earn College Credit. Save Money. ]----------------- Save money on tuition and earn 3-6 college credits with the UExcel credit-by-exam program. UExcel exams are available year-round at thousands of test centers across the US. Credits are awarded on an official transcript. UExcel is an alliance between Excelsior College, an accredited higher-ed institution, and Pearson, the world leader in education. http://www.hslda.org/alink.asp?id=419 ---------------------------------------------------------------------- Dear Friends, We wish you a merry Christmas! Another year is drawing to a close, but our hope is not dimmed. It is steadfast as we trust in the reason for the season, Jesus Christ. While preparing for the holiday, many families are in the midst of completing and sending in applications to college or other post-high school institutions. Apprehension may be growing; and for many families, "how will we pay future tuition bills?" is a refrain that keeps playing in your minds. For other families, this may only be "background music" if high school graduation is still in the distant future. We aren't trying to dampen the frivolity of the holiday spirit (!) by talking about financing your teen's next step after high school graduation. Rather, we want to encourage you that God reminds us in Psalm 50:10, "For every beast of the forest is Mine, the cattle on a thousand hills." When asked how she was going to afford to travel to a particular place to speak, Corrie ten Boom, author of "The Hiding Place," quipped, "God will just have to sell one of His cows!" He'll provide for your teens as well--in a variety of ways. Plan Ahead One of these ways could be taking some steps now to save for necessary education expenses in the years ahead. The Boy Scouts' motto is "Be Prepared!" and it is good advice to adopt when it comes to saving for education costs. It's never too late (better yet, it's never too early) to set up a savings plan in your household. You can determine to set aside an amount (even small amounts) each month for each child for his or her education. When that sum builds up, you might put it into a trust account for the child or invest it, allowing it to grow. You may also want to check into a 529 College Savings Plan operated by a state or educational institution to help families in setting aside funds for future college costs. http://www.hslda.org/elink.asp?id=12948 You can stipulate that your teens save a portion of monetary gifts, allowances, or monies earned from jobs towards their future educational expenses. Teens that are required to finance part of their education will more likely be diligent students and appreciate their opportunities. A financial management course to teach the merits of saving, http://www.hslda.org/elink.asp?id=12949 , could be a beneficial elective to include during the high school years. Another way for your teens to save for the future is to work part time during high school and save their wages. They might start their own businesses (lawn care, dog walking and sitting, babysitting, tutoring, computer maintenance and troubleshooting), or work for an employer who offers college scholarships to employees based on the number of years of employment (for example, Chick-fil-A http://www.hslda.org/elink.asp?id=12950 or Wal-Mart http://www.hslda.org/elink.asp?id=12951). Some companies have matching programs for their employees for education. Does yours? If not, why don't you design and suggest such a program for your company to implement. There are many competitions available to homeschoolers that award money prizes. We have a list on our website, http://www.hslda.org/elink.asp?id=12952, of suggested ones to help you get started in your search. You may also find others offered in your community or state. Some public high schools provide scholarship lists on their websites, or you might ask a local guidance counselor if the list is available for you to peruse. These lists will often include local scholarships that don't show up on scholarship search engines such as http://www.hslda.org/elink.asp?id=12953 www.fastweb.com or http://www.hslda.org/elink.asp?id=12954 www.collegescholarships.com. Along with these ideas, don't forget to utilize dual enrollment opportunities through your community college system as well as credit by examination (CLEP, DSST, AP), http://www.hslda.org/elink.asp?id=12955. These methods may provide college credit your teen can transfer to his college of choice. They are earned without having to pay for room and board (unless you're charging your teen rent :)) campus fees, or student activities fees, and the credits per hour are usually less expensive to acquire. Do Your Homework A word of caution to parents--don't fall prey to peer pressure when it comes to considering a school for your teen after high school. If college is not the ideal step for your teen, then please don't push in that direction. There are many fine vocational institutions, apprenticeships, and associate degree programs available which may better advance your teen to his or her goal. On the other hand, if college is the path your teens are working toward, now is the time to begin evaluating the choices they have. Consider whether that big name, expensive school will really deliver enough benefits to merit the cost. Or, will your teens accomplish the same at a more affordable school. Other factors to consider may include whether graduate school will be necessary, what major will be pursued, or if your teen will need to incur debt to attend. Some schools have endowments for scholarships to specifically attract homeschoolers such as LeTourneau University, Nyack College, Oral Roberts University, Bryan College and many more. http://www.hslda.org/elink.asp?id=12956 And speaking of scholarships, colleges, federal, state, and local entities provide them. They won't necessarily come knocking at your door, so you will need to put forth much time and effort to locate and apply for the money. Another source may be closer than you think--among your own relatives! Consider All Options Tuition is just one part of the total college bill. Room and board must also be considered. What options will your teen have as a full-time student? Will he be allowed to live with relatives or friends in the area? Will she room in the dorm or can she live in off-campus housing? Many times freshmen are required to live on campus, but in later years they are given a greater freedom of choice. Apartment living often is less expensive and quieter for students. It allows them to cook their own meals, reducing food expenditures. It's not uncommon for students to hold a job at college. The school may offer your teen a work study program to defray some of the costs. These jobs will be in departments on campus where transportation is not needed. Studies show that students who work during the academic year are more likely to be better managers of their time, better students, and have higher grade point averages than those students with idle time on their hands. Teens graduating college without debt can entertain a greater range of job offers since they will not be paying back educational loans. The National Endowment for Financial Education (NEFE) provides a free booklet on its website entitled "40 Money Management Tips Every College Student Should Know," http://www.hslda.org/elink.asp?id=12957summarizing many of the areas we've covered above including financial aid, jobs, credit and debt, saving and investing, and a spending plan worksheet. For information on the nuts and bolts of financial aid and the forms to be completed, please access our February 2006 newsletter, "College Financial Aid," http://www.hslda.org/elink.asp?id=12958 , in the newsletter archive of the high school section of HSLDA's website. As we leave 2011 to enter 2012 remember to "Be anxious for nothing, but in everything by prayer and supplication with thanksgiving let your requests be made known to God." (Philippians 4:6) He is your sufficiency. We'll see you next year to talk about ways to stay the course through high school. Sitting snug by the crackling, aromatic fire (or is that supper burning?), Becky Cooke and Diane Kummer HSLDA High School Consultants Need Help? Becky and Diane are available to answer questions from HSLDA members via email or phone. Contact us anytime you need advice and we'll do our best to point you in the right direction! Not yet an HSLDA member? Join today! http://www.hslda.org/elink.asp?id=12797 PHC Prep Academy Give your teens a jump start on possibly earning college credit by enrolling them in an Advanced Placement course from PHC Prep Academy http://www.hslda.org/elink.asp?id=12798 . For more details on the advantages of AP courses and who should consider taking them, see Becky and Diane's webinar, http://www.hslda.org/elink.asp?id=12799 . Becky and Diane's Upcoming Speaking Engagements March 3, 2012--Living Waters Home Educators, NJ (Diane) April 12-14, 2012--MACHE, St. Paul, MN (Diane and Becky) http://www.hslda.org/elink.asp?id=12477 May 11-12, 2012--CHAP, Harrisburg, PA (Becky) http://www.hslda.org/elink.asp?id=12478 ---------------------------------------------------------------------- -> Have you ever yelled into the wind, only to hear the sound of your voice blown back at you? It's hard to be heard in the midst of a storm. Trying to influence federal legislation is much like yelling to be heard while standing in a fierce wind. Yet when 80,000 voices join together, they become a powerful force that cannot be drowned out. Join HSLDA to be heard above the tempests that threaten homeschool freedoms. 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