Educator Toolbox

TXGU Activity: Financial Literacy Crash Course

Financial Literacy Crash Course.jpg

Created By:
 Texas GEAR UP

Grade Level: 12th

Introduction for Educators: As seniors, your students only have a few more chances to lower their overall net price for college. Two major opportunities are the scholarships available to those who succeed at the ACT and SAT tests.

Help your students understand the net price of their schooling, and inspire them to work for these scholarships. 

Introduction for Students: Soon you’ll have the opportunity to take the SAT or ACT. If you do well on these, you may be eligible for a scholarship. This acts like a coupon, decreasing the overall price of your schooling. 

The Activity: Work with your parents or teachers (or do an Internet search) to identify five different schools, including:

  • An elite private college
  • A regional state college
  • A “no loan” or “limited loan” college

Once you’ve chosen your five schools, determine how much they will cost to attend. Here’s how...

Using the school’s website and other online resources, gather the following information:

  • Cost of tuition
  • Cost of books
  • Cost of room and board
  • General living costs
  • Available scholarships
  • Available grants
  • Available loans

Add these costs and discounts together. The total price is called the “net price.”

Bonus Features: Some colleges offer free tuition to anyone who scores 26 or higher on their ACT. Study, take the test, and do your best.

What would you have to do to achieve a 26 or higher? How would that affect the net price of your five schools?