GEAR UP
March 2017
! e r u t u F r e t h g i r B a for
Take this brief quiz to see how well you understand a few of the basics. 1. Being on a budget means:
March 3 ACT registration deadline for April 8th ACT test March 17 Leadership day at USU Eastern March 24 Weber State University Campus Visit* April 11 USU Eastern Career Day April 13 USU Logan Campus Visit* *For all GEAR UP trips, RSVP is required due to limited space in vehicles. See your GEAR UP advisor for additional information or visit our website at http://usueastern.edu/ price/gearup
a. You pay bills every month at the due date b. You made a plan of your expenses to be less than or equal to your income c. You are earning enough money to be able to live well d. Your bills are generally paid by every due date 2. How often can you get a free credit report? a. Once a year b. Once every 6 months c. Once every 2 years d. You can’t get a free credit report 3. What is considered an excellent credit score? a. 700 to 850 b. 500 to 560 c. 561 to 600 d. 1000 to 1500 4. What is not a method to improve your credit score? a. Pay all your bills on time b. Maintain your older credit cards c. Keep your credit card balances under 30% of your credit limit d. Always pay in cash and do not get any credit cards 5. Your credit score is important because:
GEAR UP is always accepting new participants. To enroll, contact the GEAR UP advisor at your school or through any of our social media sites (see page 4).
a. It can affect your interest rate if you finance a car or home b. It can have an impact on whether you can finance major purchases c. It can determine whether you can get credit cards d. All of the above
Continued on next page
GAINING EARLY AWARENESS AND READINESS FOR UNDERGRADUATE PROGRAMS
Test Your Knowledge of Financial Basics
Test Your Knowledge of Financial Basics, continued 6. Which is a method to fund your college education? a. Apply for financial aid using the FAFSA and TAP applications b. Seek out less expensive college alternatives c. Seek out college scholarships d. All of the above 7. An example of a need is: a. A Florida vacation b. A car c. Room and board d. A laptop 8. I bought my first car and got a loan to pay for it. If I default on my loan, only this lender will know about it and if I need another loan, I’ll be able to get it from another lender. a. True b. False 9. It’s ok to skip payments on your bills some months, as long as you pay the next month. a. True b. False 10. Under which of the following circumstances would it be financially beneficial to you to borrow money to buy something now and repay it with future income? a. When you need to buy a car to get a much better paying job b. When you need a vacation c. When some clothes you like go on sale d. When you want to invest the money and feel you could make more than the interest you are paying 11. If your credit card is stolen and the thief runs up a total debt of $1,000, but you notify the issuer of the card as soon as you discover it is missing, what is the maximum amount that you must pay according to Federal law? a. $500 b. $1000 c. Nothing d. $50 12. If you earned a four-year college degree, how much more money/income could you expect to earn than if you only had a high school diploma? a. About 10 times as much b. No more; I would make about the same either way c. A little more than 20% more d. Much more than 70% more Answers: 1. b 2. a 3. a 4. d 5. d 6. d
7. c 8. b 9. b 10. a 11. d 12. d
Scholarship Spotlight YouthLinc Utah Young Humanitarian Award The Youthlinc Utah Young Humanitarian Award celebrates outstanding humanitarian service among youth, sponsored by the George S. & Dolores Doré Eccles Foundation. Type: • Application/Essay/ Recommendation Eligibility: • Applicants must be residents of Utah and US citizens, legal residents, or have DACA status. Applicants must be a junior or senior in a Utah high school or must be enrolled full-time in an undergraduate college or university program in the state of Utah. Award: • Varies ($5000-$500) Deadline: March 15, 2017 at 12:59pm http://www.youthlinc.org/younghumanitarian-award/
Guidelines for Financial Freedom When you’re a student trying to pay for school, one of the greatest challenges, can be managing your finances in the best way possible. With so many options out there, it’s difficult to decipher right from wrong and what will be best for you in the future. Following these guidelines will help you understand how to determine what’s best for you, in terms of finances. Rule #1: Think about the short and long term aspects - While it’s important to consider the overall picture, you likely won’t be able to predict exactly how you’re going to pay everything off in the long run. As a result, take it day by day. Meaning: make sure you are able to pay all of your debts as they are due. This ensures that your bills are paid, on time and that you will be set for the present and, if you’re in good shape for the present, you’re automatically in better shape for the long run. Rule #2: Given the choice, favor cash over further debt - This sounds like common sense but, with limited funds, students are often forced to choose between paying with what they’ve got or going into further debt. While paying with what you’ve got might leave you breaking even, it’s always preferable to do this over taking on more debt to seemingly have a surplus. Rule #3: Never sacrifice your credit score - Always pay your bills when they are due, even if you can only afford a minimum payment. Do this no matter what it takes! If you don’t, your credit score will decline, leaving you will a whole onslaught of issues. Keep this in mind: if your credit score declines, your minimum payments and interest rates can raise, making it even harder to stay on top of your payments. Rule #4: Always stay diligent - There’s nothing wrong with being anal retentive about your bills and payments, if you need to be. If you find yourself forgetting to make payments, set up automatic payment methods or, at the very least, pay your bills within the week of receiving them to ensure that you won’t forget about them or put them on the back burner. Rule #5: Extra income isn’t a surplus when you have debts to pay - If you happen to gain access to extra funds, remember that it’s not time to go shopping or splurge on yourself! When you borrowed, you technically started out with a negative balance since none of the money is actually yours. Which means any additional funds that come in should go to paying off your debts, so that you’re that much closer to financial freedom.
Director’s Message February was an exciting month for GEAR UP here in Carbon and Emery counties. On February 3rd we kicked off the month with a campus visit to Colorado Mesa University in Grand Junction. The 17 students who came with us had a blast and were able to learn what college life is like at a nearby out of state institution. To put things into perspective, CMU is as close as, or closer than, the following Utah colleges and universities: SLCC, U of U, Westminster, Weber State, Utah State in Logan, Southern Utah University, CMU Campus Visit and Dixie State. If you are one who can see yourself attending CMU or another out of state institution, be sure to check out the Western Undergraduate Exchange program at www. wiche.edu/wue which can help reduce the cost of out-of-state tuition. In addition to a successful college visit, GEAR UP hosted the Senior College Catch Up Day at USU Eastern on February 17th during which we helped students follow up on their admissions and financial aid applications, and got them started on additional scholarship applications. If you weren’t able to make it to that event, please feel free to set up a time to meet with either myself or another GEAR UP advisor by calling or emailing us directly. I am excited about the theme for the month of March, which is to develop financial literacy and be informed about FAFSA. When I was a college student, one of the most important skills I learned was how to manage my personal finances. There is so much that students and parents can do to increase your financial skills. One thing that I’ll always appreciate my mom doing for me during high school was helping me open my own bank account and save my money for a purpose such as college. She taught me the values of self-control, discipline, and accountability. For those simple yet powerful lessons, I will always be grateful.
CMU Campus Visit
Friend us on Facebook at:
facebook.com/USU Eastern GEAR UP Check out our selection of boards on Pinterest at:
pinterest.com/USUEGEARUP Follow us on Twitter at:
gear_up_usue@twitter.com
Ambassador Resident Advisor Serving Utah Network (SUN) Leader
Empower Hour Join with the GEAR UP First Year students in March for the Empower Hour. This will be from 12-1pm in the GEAR UP office (WIB 207). Ellen Serfustini will be teaching us how to cook some easy meals, that don’t involve ramen, and how to budget so that those delicious meals will not only make our tummies happy, but will make our bank accounts happy too. Check the GEAR UP website for the date of this event.
Student Government Student Success Leader
MARCH 17, 2017 QUESTIONS? CALL 435.613.5333 OR EMAIL ESA@USU.EDU
Just for Parents Six Steps to Slashing College Costs By Jacob Newman, Outreach Officer and Financial Aid Expert – February 16, 2017 The cost of attending college in Utah for the average resident is about $18,000 per year! If this figure seems a little scary at first, step back and take a deeeeeeep breath. Inhale slowly… Now exhale slowly… Okay. Now that your heart rate is slowing back down, check this out. Not only does Utah have some of the lowest college costs in the country, there are also steps you can take in high school to lower college costs and prepare yourself for a fun and successful college experience. Here we go… 1. Enroll in concurrent enrollment, AP, or IB classes Utah schools offer many ways to take college courses and earn college credit while you’re in high school. Taking concurrent enrollment, Advanced Placement (AP), or International Baccalaureate (IB) are all options for Utah students like you. All of these options can fulfill both high school and college general education requirements. AP and IB classes are offered beginning in 10th grade, but students need to wait until 11th grade (or 10th grade with special permission) to take concurrent enrollment courses. If students plan in advance, they can finish many required courses before entering a certificate program, or an associate’s or bachelor’s degree program, saving thousands in tuition and possibly even graduating high school with an associate degree already in hand. 2. Become a Utah Scholar - The Utah Scholars program will help you prepare academically and financially for college. If you complete the requirements of the program throughout your time in high school, you’ll also be able to stand out as a motivated, hardworking Utah Scholar on your résumé and scholarship applications. Not to mention, you’ll get a fancy Utah Scholars medallion to wear for your high school graduation. Sign up to be a Utah Scholar at www. stepuputah.com/id/students/utah-scholars-the-firststep-to-college.
Helpful Homework Web Sites Homework Center: www.factmonster.com/homework WebMATH: www.webmath.com Homework Spot: www.homeworkspot.com Discovery Education: www.discoveryeducation.com/ students
3. Get involved by volunteering - Utah’s residents have a strong reputation for volunteerism and service in the community. By getting involved with real-world opportunities in your area, you can gain important experience in a field that interests you. When you show that you are passionate about a cause, you stand out on scholarship and admissions applications, in job interviews, and more. You can also find unique scholarships relating to your volunteer work to save money on your future college costs. 4. Find a part-time job - Part-time jobs can obviously help you fill your piggy bank, but working part-time has many other benefits. When you work during high school, you learn valuable skills like time management, leadership, and teamwork. You can list the experiences you’ve had and skills you’ve gained from working on your scholarship and admissions applications to prove that you are well prepared for the rigors of college, helping you stand out from the other applicants. 5. Make time for extracurricular activities - Whether it’s playing a sport or joining a club, be sure that you make time for extracurricular activities. These opportunities will help make your high school experience fun and prepare you for college life. Just like volunteering or working part-time, you will learn time management, leadership, and teamwork. When you have these valuable skills, you can apply for scholarships that match your interests and help pay for your education. 6. Apply for federal financial aid at FAFSA.gov - After you have prepared academically, gotten involved in extracurricular activities, saved up money from your part-time job, and applied for as many scholarships as possible, you need to be sure to fill out your FAFSA during your senior year! The FAFSA, or Free Application for Federal Student Aid, is an online form that you fill out to apply for college money like grants, work-study, and student loans. Even if you don’t want or need the assistance offered through the FAFSA, it is still wise to fill it out. Why? Because many scholarships require FAFSA completion as a part of the application process. It’s also a good idea to have the financial aid to fall back on in case you do end up needing more money to cover your college costs. Financial aid is awarded on a first-come, first-served basis. So, fill your FAFSA out as close to October 1st of your senior year as possible!
Students of the Month
Vanessa Manual Carbon High School
Vanessa Manual has been chosen as one of our GEAR UP students of the month because she dedicates time on her own to applying for colleges and scholarships while making sure she maintains good grades. She has been accepted to SUU and Dixie, but would like to go to SUU. She wants to be a journalist and report on college and professional sports teams. She likes to swim and hang with her friends. Her hero is her mom because she works hard every day to help her live her dreams.
Kesler Church Lighthouse High School
Kesler Church has been chosen as one of our GEAR UP students of the month because of his dedication to his future both in and out school. He is a senior at Lighthouse high and is a hard worker, good student, and kind person. He has been involved in several GEAR UP activities and is always happy to lend a helping hand and is a lot of fun to be around. After high school Kesler has plans to join the military continuing his education where ever they station him.
CMU Campus Visit
2017 Diversity and Inclusion Conference
CMU Campus Visit
Upcoming ACT® Dates Test Date April 8, 2017 June 10, 2017
Registration Deadline March 3, 2017 May 5, 2017
(Late Fee Required) March 4-17, 2017 May 6-19, 2017
Score Release April 18, 2017 June 20, 2017
The ACT® is an important college entrance exam. Scores can affect college entrance and scholarships. All Utah eleventh-grade students will take the ACT® February 28th at their schools. Students who want to take the test again can visit the following ACT® website to register for the test: www.actstudent.org/regist/dates.html GEAR UP students may contact their GEAR UP coordinator to obtain an ACT® test fee waiver. (GEAR UP cannot pay for or waive late fees.)