Parents - Paying for College SD

Video Series 4

Part 1 of 3

Congratulations, parents! Your son or daughter is considering the path to getting a university or technical degree.

An education is a wise investment in the future but getting the most out of that investment is critical to your child’s success.

*** Play the video and answer the key takeaways. ***

Part 1: Key Takeaways

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If you co-sign student loans or Parent Plus loans and you or your child cannot replay them, don’t worry, you can always file for bankruptcy.

True

False

Your score is

Part 2 of 3

You can help your student avoid the debt traps and the resulting consequences of borrowing too much.

This begins by understanding that not every degree at every technical college or university will provide the same return.

Not that long ago, the common wisdom was that getting a college education would naturally result in a great career.

Part 2: Key Takeaways

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Identify some suggestions shared to avoid debt traps. Check all that apply.

Do research to make sure the educational investment will provide the return on investment you want.

Figure out your interests and skills by taking an interest assessment.

Gain work experience through job shadows and internships.

Earn college credits while in high school through dual credit.

Consider in-state options.

When in college, utilize the Student Success Center or other services.

Your score is

Part 3 of 3

The loan process begins with you and your student filling out the FAFSA — short for the Free Application for Federal Student Aid — a document which uses your personal financial information to determine which loans, grants, and scholarships your child can qualify for.

Even if the student does not intend to take out student loans, he or she must fill out the FAFSA in order to qualify for any scholarships or grants that the institution may offer.

Part 3: Key Takeaways

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What is the name of the federal application all students should fill out before applying for college?

FASSA (Federal Application for Scholarships and Student Aid)

FAFA (Federal Application for Free Aid)

FAFSA (Free Application for Federal Student Aid)

SAGA (Scholarships and Grants Application)

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This project is supported by a grant from the South Dakota Community Foundation and was produced in partnership with Consumer Credit Counseling Service of the Black Hills, South Dakota Statewide Family Engagement Center, and the Career Learning Center of the Black Hills, a division of BHSSC Black Hills Special Services Cooperative.

No part of this program may be reproduced or transmitted in any form by any means electronic or mechanical including photocopying, recording or by any information storage and retrieval system except by a reviewer who may quote a brief passage to be printed in a magazine newspaper, or on the internet without the permission in writing from the developers.

Although the developers of this program made every effort to ensure the accuracy and completeness of the information contained in these videos, we make no representation or warranties with respect to the accuracy or completeness of the contents of the program and specifically assume no responsibility for errors, inaccuracies, omissions, or agency herein. You should consult a professional where appropriate.