FINANCIAL PLAN
My parents are most generously funding my education, for which I am very grateful. I contribute in a small way by paying for my textbooks with the profits I receive from pet sitting and selling on e-Bay. These profits will also cover potential school related transportation expenses. In addition to my parents’ funding, I will pursue scholarships and grants. However, I will not pursue full-ride scholarships due to semester credit hours and GPA contingencies. A student loan is not an option for me.
Listed below are four potential scholarships and a potential budget based on the net value of an approximate starting salary for mechanical engineers. The tax and budget information are conservatively estimated for a single person.
POTENTIAL INCOME
*Conservative 10%
POTENTIAL BUDGET
SOURCES
“NC Tech Betsy Y. Justus Founders Scholarship.” NC Tech Association, NC TECH, https://www.nctech.org/about/education-foundation/scholarships.html?redir=301&src=/about/scholarship.aspx
“Larry K. & Nancy A. Monteith Endowed Scholarship.” NC State University Pack Assist, Blackbaud, Inc., https://ncsu.academicworks.com/opportunities/111085
“Mindy and Neil Grossman STEM Scholarship Fund.” Foundation University of South Florida, USF Foundation, Inc., https://foundation.usf.edu/here/scholarship-office/available-scholarships/need-merit-based-scholarships/mindy-and-neil-grossman-stem-scholarship-fund
“Academic Scholarship.” Liberty University, Liberty University, http://www.liberty.edu/index.cfm?PID=24737
“Mechanical Engineer – Money and Outlook.” College Foundation of North Carolina,College Foundation of North Carolina, https://www1.cfnc.org/Plan/For_A_Career/Career_Profile/Career_Profile.aspx?id=mu1AXAP2FPAXUz7kSOfufoMms8XjAXAP3DPAXXAP3DPAX&screen=5
“Home Budget: Cost-of-Living Reality Check.” Quicken, Quicken Inc., https://www.quicken.com/home-budget-cost-living-reality-check
“IRS Tax Brackets & Deduction Amounts for Tax Year 2017.” US Tax Center at IRS.com, Private investor group focused on financial services, https://www.irs.com/articles/2017-federal-tax-rates-personal-exemptions-and-standard-deductions
Scarboro, Morgan. “State Individual Income Tax Rates and Brackets for 2018.” Tax Foundation, Tax Foundation, 5 March 2018, https://taxfoundation.org/state-individual-income-tax-rates-brackets-2018/