Affording College and Life
Financial literacy is the knowledge of how to make smart decisions with money throughout your life. Affording college often starts with the search for scholarships and grants which are awards that do not have to be paid back.
However, affording college is much more than that. It includes preparing a budget, knowing how much to save, deciding favorable loan terms, understanding impacts to credit, and even learning how to fund retirement.
The five major financial literacy principles are: earn, save and invest, protect, spend, and borrow.
Understanding interest, budgeting, debt management, credit, identity theft protection, savings, and financial goals can make a huge difference to your financial success.
On this page you will find links to financial success as you plan for your college years and beyond.
Scholarships and Grants
Consult your school counselor about these opportunities.
Washington College Grant
The Washington Student Achievement Council has one of the most generous programs in the nation, providing full or partial college grants to students planning to attend a participating Washington college (public or private). Students qualify based on a GPA of at least 2.0 and on family size and family income.
The Federal Pell Grant is a need-based federal financial aid program that provides funds to eligible undergraduate students to help pay for educational expenses and generally does not have to be repaid.
Roosevelt High School Only Scholarships – see counselor
James A Davis, Jr Memorial Scholarship
Two $6,250 scholarships granted annually, funded by the Roosevelt Alumni for Racial Equity.
RHS Golden Grads
Several scholarships of varying amounts granted annually for academics, sports, and the arts funded by RHS Golden Grads.
Online Resources To Help Students Improve Their Financial Literacy and Afford College
- Free Financial Literacy Resources for College Students (In Charge Debt Solutions): Free downloadable personal finance for college-aged students and teachers. Workbooks and lesson plans on budgeting, saving, credit, debt, etc.
- Financial Literacy: What College Students Need to Know
- Bank of America: Financial Goals and Priorities
- FinAid.org: Information on all aspects of financial aid with tools for calculating college costs, loan payments, savings and the Expected Family Contribution (EFC).
- CashCourse.org: A student financial literacy resource from the non-profit National Endowment for Financial Education (NEFE). A great resource for students and teachers examining common financial pitfalls encountered during the college years.
- MoneySkill.org: A free online reality based personal finance course for high school and college students providing a basic understanding of money management fundamentals.
- Finra Investor Education Foundation: Empowers teens and young adults by providing resources and education about personal finance.
- HandsonBanking.org: Assists people of all ages to take charge of their own finances and reach goals, whether you want to build your credit or start your own small business; invest in the market, a home, or higher education; shop for a loan, buy a car, or open your first bank accounts.
- Teen Financial Literacy from the Public Library Association: Includes four online resources for teaching teens financial literacy including the Consumer Finance Protection Bureau’s “Money As You Grow.” Offers conversation starters to help parents help their children grow their financial knowledge.
- College Consensus: Lists 135 resources for high school and college students.
- Annuity: Posted guide to help college students understand finances.
- Avantax: Lists 10 lessons that all college students should learn.
- Brookings Institute: Provides a review on financial literacy.
- CNBC: Produced an article on the importance of financial literacy.
- Consumer Financial Protection Bureau: Guide on “Money as you Grow”.
- FDIC: Published a resource on “Money Smart for Young People”.
- Financial Literacy 101 for College Students.
- Free Financial Literacy Resources for College Students.
- Youth.gov: Provides links to informative federal government resources.
