The benefits of attending a local community college include saving on transportation costs if it is local, living at home and saving on room and board, and transferring to a four-year college and saving on tuition.
room and board is one of the most expensive additional costs for higher education.
living at home could save you money while enrolled in post secondary school or training because it reduces costs of room and board.
federally-funded grants require the student to have financial need only.
the fafsa does not make you eligible for early admission, but it does make you eligible for federal student aid, some grants and many scholarships.

3. saving two consumers, larry and jeff, have utility functions defined over the two periods of their lives: middle age (period zero) and retirement (period 1). they have the same income in period 0 of m dollars and they will not earn income in period 1. the interest rate they face is r. larry’s and jeff’s utility functions are as follow. = 0.5 + 0.5 and = 0.5 + 0.5 for each person is between zero and one and represents each consumer’s temporal discount econ 340: intermediate microeconomics. ben van kammen: purdue university. rate. a. write the budget constraint that applies to both jeff and larry in terms of consumption in each period and ), interest rate, and m. b. what is larry’s and what is jeff’s marginal rate of intertemporal substitution? c. what is the slope of the budget constraint? d. write each consumer’s condition for lifetime utility maximization. e. re-arrange the conditions from part (d) to solve for the ratio, . f. if > which consumer will save more of his middle age income? g. if > 1 1+ , in which period will larry consume more: = 0 or = 1?