College Costs and Scholarships — slides
Financial Literacy Club
Money After High School · Lesson 8
College Costs and Scholarships
Sticker price vs. net price, the FAFSA, grants, and scholarships.
14-minute lesson · learnwithflc.org
College Costs and Scholarships · 1 / 21
Financial Literacy Club
Money After High School · Lesson 8
College Costs and Scholarships
Sticker price vs. net price, the FAFSA, grants, and scholarships.
14-minute lesson · learnwithflc.org
Today's goals
By the end of class, you'll be able to…
- Distinguish sticker price from net price
- Explain what the FAFSA does and the difference between grants and loans
- Spot scholarship scams
Warm-up
School A costs $55,000 a year and School B costs $25,000. Which is cheaper? What would you need to know first?
Think, then write your answer.
The big idea
College Costs and Scholarships
Sticker price vs. net price, the FAFSA, grants, and scholarships.
Money After High School · Lesson 8
A college's sticker price is what it charges before aid. Your net price is what you actually pay after grants and scholarships. Many students pay far less than the sticker price.
Vocabulary
Cost of attendance
The full yearly cost: tuition and fees, housing, food, books, transportation, and personal expenses.
Money After High School · Lesson 8
Colleges that offer federal aid are required to have a net price calculator on their website. Use it early — a more expensive-looking school can end up cheaper.
Money After High School · Lesson 8
- Grants: aid you don't repay, often based on need (like the federal Pell Grant).
- Scholarships: aid you don't repay, based on merit, talents, background, or need.
- Work-study: part-time jobs for students with financial need.
- Loans: money you must repay, with interest.
Money After High School · Lesson 8
The FAFSA (Free Application for Federal Student Aid) at studentaid.gov unlocks federal aid and much state and college aid. It typically opens in the fall before you start college — check studentaid.gov for this year's dates. In Texas, students who can't file the FAFSA may be able to file the TASFA for state aid.
Money After High School · Lesson 8
Scholarship scam warning
Never pay to apply for a scholarship or to "guarantee" one. Legitimate scholarships don't charge fees, and the FAFSA is always free.
Money After High School · Lesson 8
Other ways to cut costs: dual credit and AP courses, starting at a community college and transferring, and living at home.
See it
A hypothetical college costs $28,000 a year. After $9,000 in grants and $3,000 in scholarships, the net price is $16,000, which a student might cover with savings, work, and possibly loans.
- Cost of attendance (sticker price)
- $28,000
- Grants
- −$9,000
- Scholarships
- −$3,000
- Net pricewhat you actually pay
- $16,000
Real example
The "expensive" school that cost less
Imani compares two hypothetical colleges using their net price calculators:
- College A: $24,000 sticker price, $4,000 in expected aid → $20,000 net price.
- College B: $45,000 sticker price, $30,000 in expected aid → $15,000 net price.
The school that looked nearly twice as expensive would cost her $5,000 less a year. Compare net prices, not sticker prices.
Activity · pairs · 12 min
Net Price Showdown
- Two made-up award letters. School A: cost of attendance $55,000; grants and scholarships $38,000; federal loans offered $5,500. School B: cost of attendance $25,000; grants $4,000; federal loans offered $5,500.
- Pairs calculate each school's net price (without counting loans).
- Pairs circle anything in the letters that must be repaid.
- Pairs decide which school is actually cheaper and what else they'd consider.
Check for understanding · 1 of 3
A college's cost of attendance is $30,000. You're offered $12,000 in grants and $4,000 in scholarships.
What's your net price?
- A$30,000
- B$18,000
- C$14,000
- D$16,000
C. $14,000
$30,000 − $12,000 − $4,000 = $14,000.
Check for understanding · 2 of 3
Which type of aid must be repaid?
- APell Grants
- BMerit scholarships
- CStudent loans
- DNeed-based grants
C. Student loans
Grants and scholarships are free money. Loans must be repaid with interest.
Check for understanding · 3 of 3
A website promises a guaranteed scholarship if you pay a $99 processing fee.
What should you do?
- APay — it's guaranteed
- BPay half
- CAvoid it — legitimate scholarships don't charge fees
- DShare it with friends
C. Avoid it — legitimate scholarships don't charge fees
Paying to get a scholarship is a classic scam. Real ones are free to apply for.
Remember
Key takeaways
- Net price = cost of attendance − grants − scholarships.
- Use every college's net price calculator.
- The FAFSA is free and unlocks most aid.
- Never pay to get a scholarship.
- Dual credit and community college can save a lot.
Discuss
Talk it over
- What should matter more when choosing a college: net price or reputation? Why?
- Why do you think many families never use net price calculators?
Exit ticket
What's the difference between a grant and a loan?
Answer on your exit ticket before you leave.
Nice work today.
Review this lesson anytime — free, no account needed:
learnwithflc.org/courses/money-after-high-school/college-costs
Next up: finish your worksheet.