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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. 

1

NC Tech Betsy Y. Justus Founders Scholarship

Affiliation: NC Tech Association

Major: technology or engineering

Student Type: female,college freshman, re-entry or                                  transfer student

Award: $4,000; Lenovo PC

2

Larry K. & Nancy A. Monteith Endowed Scholarship

Affiliation: NC State University

Major: engineering

Student Type: transfer

Award: varies

3

Mindy and Neil Grossman STEM Scholarship Fund

Affiliation: University of South Florida

Majors: STEM

Student Type: female and/or underrepresented student                          populations

Award: varies

4

Academic Scholarship

Affiliation: Liberty University 

Major: any

Student Type: transfer

Award: $2,500-$2,750

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/

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