Are You a Teenage Money Genius?

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Parents and Teachers
My Education - So What's Stopping You?
I Don't Know What I Want to Do for the Rest of My Life

If you're having trouble deciding on a career or setting goals for your education, there are places you can go for help. Start by talking to your high school counselor and other adults you respect and admire.

Or check out Mapping Your Future (www.mapping-your-future.org). It's a great source for hints about choosing a career, and then finding the type of school that is best for helping you get started in that career.

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I Can't Afford It

There's no doubt about it-college is expensive. But there are ways to pay for it, including financial aid, part-time jobs, and careful budgeting.

You can start searching for financial aid sources right now.

As you do your research, you'll also find that some colleges cost less than others. For example, technical schools, community colleges, and public colleges usually are less expensive than private colleges. In addition, technical schools and community colleges can be a stepping stone toward getting into a four-year college or university.

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I Have Bad Grades

You can start to change that now with hard work and motivation. If you make up your mind to learn good study habits, work harder in classes, and turn in all your assignments, you'll be amazed at how quickly your grades will go up. And the better your grades, the better your chances of earning a scholarship for college.

If you're really struggling in an area, ask your teachers or guidance counselor for advice. They may help you find a tutor or provide some other tips to help you improve your grades.

Also know that some colleges have an "open enrollment" policy. That means they will accept students even if they had poor grades in high school. The bottom line: You may not get your first choice, but if you really want to attend college, you can!

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I Have to Work

You aren't alone. Many high school students work part-time and still manage to get good grades. In college, that won't change. You'll find that many college students work and carry a full load of classes.

Tip: Look for a college that offers flexibility, such as online classes, night classes, weekend classes, and part-time study programs so you can work and go to school at the same time. It's not always easy, but it's definitely worth it!

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My Friends Aren't Planning to Go to College

That's unfortunate. Perhaps they will change their minds. In the meantime, don't let your friends discourage you. Getting an education is the right thing for you. Follow your dreams-not someone else's.

And remember, you will make many great new friends at college.

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I Have a Baby

You won't be alone. Many college students juggle school and family obligations, but they keep going because they want to make a better life for themselves and their children. Look for a college that provides day care and other assistance for families-many do.

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My Parents Don't Want to Fill Out Financial Aid Forms

Financial aid forms ask for a lot of information about your money and about your parents' money. The reason is to determine how much you and your family can afford to pay for college, and how much financial aid you will need from other sources, such as scholarships, grants, work-study programs, and loans. .

Many people are uncomfortable telling others about their financial situation, and your parents may be, too. If so, now is a good time to start talking with them about financial aid forms. Here are a few ideas for starting a conversation:

  • Show your parents a financial aid form, such as the Free Application for Federal Student Aid (FAFSA). You can get a copy of the FAFSA from your high-school counselor, or by going to www.fafsa.ed.gov.
  • Explain that you cannot get federal financial assistance for college unless you and your parents submit a FAFSA, and that other financial aid sources also may require a FAFSA.
  • Explain that the people who review the FAFSA and other financial aid forms are not allowed to share the information with anyone else.
  • If the form is difficult for you and your parents to fill out, ask a teacher or your high-school counselor for help.
Q: Can I complete the FAFSA without my parents' information?
A: If you are considered a dependent of your parents, you must provide your parents' financial information on the FAFSA. Generally, you are considered a dependent of your parents for purposes of determining financial aid until you have obtained your first undergraduate degree or have reached age 24. Possible exceptions are students who are wards of the court, single parents, married, military veterans, or students with other special circumstances.

To learn more about your dependency status for purposes of applying for financial aid, go to the U.S. Department of Education's Federal Student Aid Web site at studentaid.ed.gov. Click on "If you attend junior/senior high school" and look for the "Funding Your Education" booklet. A chapter in the booklet is titled "Your Dependency Status."

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My Family Doesn't Want Me to Leave Home

It may be difficult for your family to think about you leaving home to go to college. Talk to them about their feelings and share yours. You'll probably find that they want what is best for you. They want you to have a bright future, and that often means getting a college education.

Many students continue to live at home while going to college. It's one way to cut the costs of college. But even if you go away to college, reassure your family that it doesn't mean cutting ties with them. It just means that your family bonds will stretch a little further.

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