Real World Finances
URI 101
Basic Loan Knowledge
• You don’t have to pay off loans until six months
after graduation
• Two types of educational loans : need based and
non-need based
• Distribution of loans and aid are based on the
students financial situation and cost of the
institution
• Apply for loans and financial aid by filling out a
FAFSA form which can be found online at
www.fafsa-application.com
• FAFSA form must be completed yearly
• Some careers will forgive all student loans after
you work in an underrepresented area for a period
of time
Work Study
• A federal student aid program that provides parttime employment while you are enrolled in school to
help pay your education expenses.
• Schools must pay students at least once a month
• Wage is hourly
• Payment can go directly
to you, to your bank
account or towards school
fees
On-Campus Employment Options
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Campus Recreation
Residence Halls
Ryan Center
Computer Labs
Library
Bookstore
Dining Halls
Tour Guide
Orientation Leader
Academic Enhancement Center
Memorial Union
Cost of Living
Often times, the cost of living fluctuates depending
on where you live. Look at these links for cost of
living comparisons by city.
Cost of living calculators:
http://money.cnn.com/calculator/pf/cost-of-living/
http://www.nerdwallet.com/cost-of-living-calculator/
Budgeting 101
• Budgets are necessary. They are a
way for you to keep track of spending
and sure your money is being spent
where you want it.
• Spend within your means and save
money! The earlier you start to save,
the better you will be off in the future.
• 3 steps to starting a budget
– Identify where you’re spending money now
– Set goals for money you want to spend and
save each month
– Track your spending to make sure it stays within
the guidelines
Salary by Career
• Insert options for careers based off the major of URI
101 section
Education and Earnings
A college graduate earns an average of
$645,840 more than a high school
graduate over a lifetime.
• One college course is worth $16,146
• One hour in a college course is worth
$336
Would you go to class today if I offered to
pay you $336 for attending?
**This represents earnings over a 30 year period.
Personality &
Managing Your
Typefocus & Managing Your Money
Protectors
Protectors include: ESTJ, ESFJ, ISTJ and ISFJ
•These types are, by nature,
conservative
•Future oriented with money and
spending
•May be uncomfortable with
unanticipated change – don’t make
rash decisions from panic
•Have an emergency fund for these
situations!
Typefocus & Managing Your Money
Planners
Planners include: ENTJ, ENTP, INTJ and INTP
•Big picture thinkers
•Future oriented with money and
spending, and can sometimes miss
the here and now
•Have a long-term savings account
and an account specifically for today’s
spending
•Practical with spending and where
money goes
Typefocus & Managing Your Money
Pleasers
Pleasers include: ENFJ, ENFP, INFJ and INFP
•These people treat money personally,
as an extension of themselves
•What money is spent on is an
expression of their identity
•Often use money to please
themselves or others, especially
emotionally
•Can be taken advantage of with
money in order to please another
•Be cautious of overspending
Typefocus & Managing Your Money
Players
Players include: ESTP, ESFP, ISTP, ISFP
•Value freedom with finances and
spending
•Choose to spend money in the moment
•Compulsive and unlikely to think longterm
•Resourcefulness and a can-do attitude
can be helpful in entrepreneurial ventures
•Create a savings account to avoid too
much impulsive buying