Ways to Pay for College
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Ways to Pay for College
Paying for college worksheet: savings, grants, scholarships, student loans and work-study to name from what they are, then five problems on what is left to pay, a work-study job, a loan with interest and how much to borrow. Grade 6, with an answer key.
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Teach it first
Ways to Pay for CollegeA teaching handout to hand out before this sheet: the rule, worked examples and common mistakes.- Pages
- 1
- Last updated
- Time
- About 15 minutes
- Answer key
- Included
- Printing
- Black and white
- Related curriculum
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Tell cash, checks, debit cards, credit cards and online payments apart, with what is good and bad about each, and read and write a check; compare bank accounts by their fees; know what a credit report holds and why it matters; find ways to pay for college and what a salary adds up to over a working life; and plan how to spend, save and share and how to reach a saving goal.
Reviewed by Mr. Daniel Carter, Teacher. How we check worksheets
How to use this sheet
- Have the child say what each choice costs in the end, not only what it costs today.
- For interest, have the child make a table, year by year, before using a formula.
- Talk about the questions with real examples, such as a phone plan or a savings account.
Common mistakes
- Thinking a credit card is free money. What is spent must be paid back, often with interest.
- Working out compound interest as simple interest. Each year’s interest is earned on the new total.
- Writing an interest rate of 5% as 5 in a formula. Use 0.05.
