Exam 4: Maximize Your Resources

Blair had a difficult time with one of her professors in one of her core major classes last semester.She wants to learn from someone more aligned with her learning style.Which school resource would be most appropriate for her situation?

If you get a payday loan and fail to pay it back on time the fee is usually minimal; therefore it is better to get this type of loan versus others.

By law, you are entitled to one credit report per year from one of the three credit agencies.

Jessica is a busy college senior, finishing up classes and looking for a permanent job.She knows she wants to double her savings account by the end of the year.How might she achieve her goal?

Sasha is a veteran of the War in Afghanistan where she worked in the medical core as a nurse.Her experience has prompted her to seek a medical degree in psychiatry.She understands the sacrifices she must make in commitment and financing to obtain the degree.Her job as an RN will not cover her tuition expenses.She's decided to apply for scholarships, grants, and research positions at the college she will be attending.From what other source is Sasha in particular likely to financial help?

Steven just got accepted into the college near his home.He is a traditional student commuting to campus.He is nervous about not feeling connected to the campus like peers living in the dorms.He is also not sure about what degree he wants to pursue so he is starting off with some general coursework while he explores possible majors.Once he chooses a major, he wants to gain hands-on experience within his chosen profession to expand his networking opportunities.He is also interested in getting involved in international work and would like to travel abroad.He requires financial assistance to attend school.Given these circumstances, lead Steven through the steps he should take to achieve his goals and academic success.Use at least 10 resources and/or strategies in the chapter to support your answer.

Students looking to get involved in programs promoting diversity should visit the Student Activities Office for more information.

Shannon and her friends went to dinner, and she forgot to bring cash.She offered to pay the bill, and people could pay her for their portion now or later with the plan to pay the expense back when she got her bill.This was an unwise financial decision.

Chris attends all of his classes and does his homework, and he is passing all of his classes.Lately he has been having a lot of issues with friends that affect his ability to focus on school.He tries to manage interruptions by studying at the library but when he is there, his mind wanders to his friends' troubles.In the past two weeks, he has noticed his grades slipping at the same time that his friends' issues are getting worse.He feels pulled in two directions and is afraid of the consequences if he cannot dedicate himself completely to both areas in his life.Now Chris feels he is in crisis.What is his best option?

Bill is a college freshman living off campus in his own apartment.He lives close enough to the campus to ride his bike and takes the bus to get to his job.He has transferred his gym membership to the facility near his school.He has a credit card; however, he does not use it.He has created a budget as follows: Monthly Expenses: Tuition is paid by loan directly. Books $100 Rent $550 Utilities/cell $250 Transportation $30 Laundry $30 Food/household items $500 Entertainment $200 Health/Fitness $40 Total: $1,700 Monthly Income: Summer Savings $350 Loan $800 Job (after taxes) $600 Total: $1,700 Based on what you have read about managing financial resources, what are some strengths and weaknesses you see in Bill's financial management? What should be Bill's financial goal? What recommendations would you make for him to reach this goal? Use specifics from the chapter to support your recommendations.

Ania is a nontraditional student starting classes in a new field after being laid off from her position as a retail sales manager.She is a wife and mother of two children.She and her husband have not taken out student loans before, and they are concerned about the costs of paying for her schooling while they are trying to save for retirement and their children's schooling on one salary.They have a meager savings account but significant retirement savings and have been contributing to their children's college fund.They also have credit card debt they had been paying off in large lump sums until Ania lost her job.Given Ania's situation, what would be your advice to her in managing the family's financial resources and loan to pay for school? Use at least 5 resources and/or strategies from the chapter to support your answer.

Selena is conducting online research for her term paper.She has come across a lot of valuable information, but she is not confident in some of the sources of the information.Her best option would be to:

What school resource should you use to ensure you are meeting all of your graduation requirements?

Myra has a broken leg and must use crutches.She is in her first year of school in Maine, she is a commuter, and it is winter.She cannot drive or rely on friends to take her to and from campus when they have different schedules than her.Once she is on campus, she has difficulty managing the hills on crutches, especially when the sidewalks have ice and snow.There is no public transportation that provides a route near her house to school.From what you've read in the chapter about identifying school resources, what program or person should Myra contact first?

Many schools are offering nontraditional students access to additional resources such as:

Daniel is a college junior living off campus with roommates who split all of their bills evenly.Beyond grants and loans, he is involved in the work-study program at school to help pay for his tuition.Each summer he works for his uncle to earn money to help pay for his living expenses at school.He lives close to campus and rides his bike to school.Although he has plenty in his savings account to cover his books and living expenses, he has no extra spending money.He has considered getting another job, but he feels this will affect his studies.He has been thinking about using his credit card to pay for some of the extras like taking trips with friends, or paying for party supplies when his turn arises.Which course of action will put Daniel on the right path financially?

Which situation below is a sign you could be in financial trouble?

Baird is having trouble paying his bills.To take control of his financial situation, he has created a budget and inventoried his everyday expenses to see where most of his money is going.He should have considered seeking out professional advice first.

Aaron has lost control of his finances and has been getting calls from debt collectors.His first step should be to create a monthly budget and apply the Adult Learning Cycle to managing his financial resources in order to pay off his debts.

Abbey has a 15-page term paper due in her political science class, which will require a lot of research.She is nervous because in high school she only used either the Encyclopedia or online resources for conducting her research.She'd like to make more use of what the school's library has to offer; however, she is not sure where to start.What should be her first step?