4.3: Part III- Plan your Academic Journey
- Page ID
- 35823
\( \newcommand{\vecs}[1]{\overset { \scriptstyle \rightharpoonup} {\mathbf{#1}} } \)
\( \newcommand{\vecd}[1]{\overset{-\!-\!\rightharpoonup}{\vphantom{a}\smash {#1}}} \)
\( \newcommand{\id}{\mathrm{id}}\) \( \newcommand{\Span}{\mathrm{span}}\)
( \newcommand{\kernel}{\mathrm{null}\,}\) \( \newcommand{\range}{\mathrm{range}\,}\)
\( \newcommand{\RealPart}{\mathrm{Re}}\) \( \newcommand{\ImaginaryPart}{\mathrm{Im}}\)
\( \newcommand{\Argument}{\mathrm{Arg}}\) \( \newcommand{\norm}[1]{\| #1 \|}\)
\( \newcommand{\inner}[2]{\langle #1, #2 \rangle}\)
\( \newcommand{\Span}{\mathrm{span}}\)
\( \newcommand{\id}{\mathrm{id}}\)
\( \newcommand{\Span}{\mathrm{span}}\)
\( \newcommand{\kernel}{\mathrm{null}\,}\)
\( \newcommand{\range}{\mathrm{range}\,}\)
\( \newcommand{\RealPart}{\mathrm{Re}}\)
\( \newcommand{\ImaginaryPart}{\mathrm{Im}}\)
\( \newcommand{\Argument}{\mathrm{Arg}}\)
\( \newcommand{\norm}[1]{\| #1 \|}\)
\( \newcommand{\inner}[2]{\langle #1, #2 \rangle}\)
\( \newcommand{\Span}{\mathrm{span}}\) \( \newcommand{\AA}{\unicode[.8,0]{x212B}}\)
\( \newcommand{\vectorA}[1]{\vec{#1}} % arrow\)
\( \newcommand{\vectorAt}[1]{\vec{\text{#1}}} % arrow\)
\( \newcommand{\vectorB}[1]{\overset { \scriptstyle \rightharpoonup} {\mathbf{#1}} } \)
\( \newcommand{\vectorC}[1]{\textbf{#1}} \)
\( \newcommand{\vectorD}[1]{\overrightarrow{#1}} \)
\( \newcommand{\vectorDt}[1]{\overrightarrow{\text{#1}}} \)
\( \newcommand{\vectE}[1]{\overset{-\!-\!\rightharpoonup}{\vphantom{a}\smash{\mathbf {#1}}}} \)
\( \newcommand{\vecs}[1]{\overset { \scriptstyle \rightharpoonup} {\mathbf{#1}} } \)
\( \newcommand{\vecd}[1]{\overset{-\!-\!\rightharpoonup}{\vphantom{a}\smash {#1}}} \)
\(\newcommand{\avec}{\mathbf a}\) \(\newcommand{\bvec}{\mathbf b}\) \(\newcommand{\cvec}{\mathbf c}\) \(\newcommand{\dvec}{\mathbf d}\) \(\newcommand{\dtil}{\widetilde{\mathbf d}}\) \(\newcommand{\evec}{\mathbf e}\) \(\newcommand{\fvec}{\mathbf f}\) \(\newcommand{\nvec}{\mathbf n}\) \(\newcommand{\pvec}{\mathbf p}\) \(\newcommand{\qvec}{\mathbf q}\) \(\newcommand{\svec}{\mathbf s}\) \(\newcommand{\tvec}{\mathbf t}\) \(\newcommand{\uvec}{\mathbf u}\) \(\newcommand{\vvec}{\mathbf v}\) \(\newcommand{\wvec}{\mathbf w}\) \(\newcommand{\xvec}{\mathbf x}\) \(\newcommand{\yvec}{\mathbf y}\) \(\newcommand{\zvec}{\mathbf z}\) \(\newcommand{\rvec}{\mathbf r}\) \(\newcommand{\mvec}{\mathbf m}\) \(\newcommand{\zerovec}{\mathbf 0}\) \(\newcommand{\onevec}{\mathbf 1}\) \(\newcommand{\real}{\mathbb R}\) \(\newcommand{\twovec}[2]{\left[\begin{array}{r}#1 \\ #2 \end{array}\right]}\) \(\newcommand{\ctwovec}[2]{\left[\begin{array}{c}#1 \\ #2 \end{array}\right]}\) \(\newcommand{\threevec}[3]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \end{array}\right]}\) \(\newcommand{\cthreevec}[3]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \end{array}\right]}\) \(\newcommand{\fourvec}[4]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \\ #4 \end{array}\right]}\) \(\newcommand{\cfourvec}[4]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \\ #4 \end{array}\right]}\) \(\newcommand{\fivevec}[5]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \\ #4 \\ #5 \\ \end{array}\right]}\) \(\newcommand{\cfivevec}[5]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \\ #4 \\ #5 \\ \end{array}\right]}\) \(\newcommand{\mattwo}[4]{\left[\begin{array}{rr}#1 \amp #2 \\ #3 \amp #4 \\ \end{array}\right]}\) \(\newcommand{\laspan}[1]{\text{Span}\{#1\}}\) \(\newcommand{\bcal}{\cal B}\) \(\newcommand{\ccal}{\cal C}\) \(\newcommand{\scal}{\cal S}\) \(\newcommand{\wcal}{\cal W}\) \(\newcommand{\ecal}{\cal E}\) \(\newcommand{\coords}[2]{\left\{#1\right\}_{#2}}\) \(\newcommand{\gray}[1]{\color{gray}{#1}}\) \(\newcommand{\lgray}[1]{\color{lightgray}{#1}}\) \(\newcommand{\rank}{\operatorname{rank}}\) \(\newcommand{\row}{\text{Row}}\) \(\newcommand{\col}{\text{Col}}\) \(\renewcommand{\row}{\text{Row}}\) \(\newcommand{\nul}{\text{Nul}}\) \(\newcommand{\var}{\text{Var}}\) \(\newcommand{\corr}{\text{corr}}\) \(\newcommand{\len}[1]{\left|#1\right|}\) \(\newcommand{\bbar}{\overline{\bvec}}\) \(\newcommand{\bhat}{\widehat{\bvec}}\) \(\newcommand{\bperp}{\bvec^\perp}\) \(\newcommand{\xhat}{\widehat{\xvec}}\) \(\newcommand{\vhat}{\widehat{\vvec}}\) \(\newcommand{\uhat}{\widehat{\uvec}}\) \(\newcommand{\what}{\widehat{\wvec}}\) \(\newcommand{\Sighat}{\widehat{\Sigma}}\) \(\newcommand{\lt}{<}\) \(\newcommand{\gt}{>}\) \(\newcommand{\amp}{&}\) \(\definecolor{fillinmathshade}{gray}{0.9}\)Professional careers almost always require advanced education or training. Modules 1, 2, and 3 point out educational requirements for various careers. Those modules also specify careers in real estate that require a real estate license in California. If you plan for your real estate career to happen in another state, you need to check that state’s requirements.
In this part of Module 4, you will plan the academic journey that you must complete to become eligible for a California real estate license. You will also learn about educational requirements for advanced positions in real estate that may or may not require a license. Courses, certificates, and degrees will be discussed, as will financial aid.
Goal: California Real Estate License
As you know from Module 1, to become a licensed real estate agent or broker in California, you must complete certain academic requirements and then pass a state licensing examination. Review the requirements in Module 1, or read the information below.
According to the California Department of Real Estate, to qualify to take a real estate salesperson examination, you must be 18 or more years of age, a resident of the state, and have completed three college-level courses as shown below. (See www.dre.ca.gov/examinees.)
- Real Estate Practice, and
- One course from the following list:
- Real Estate Appraisal
- Property Management
- Real Estate Finance
- Real Estate Economics
- Legal Aspects of Real Estate
- Real Estate Office Administration
- General Accounting
- Business Law
- Escrows
- Mortgage Loan Brokering and Lending
- Computer Applications in Real Estate
- Common Interest Developments
To qualify to take a real estate broker examination, you must complete eight college-level courses as shown below. (See www.dre.ca.gov/examinees.)
Real Estate Practice; and
- Legal Aspects of Real Estate; and
- Real Estate Finance; and
- Real Estate Appraisal; and
- Real Estate Economics or Accounting; and
- three courses from the following list:
- Real Estate Principles
- Business Law
- Property Management
- Escrow
- Real Estate Office Administration
- Mortgage Loan Brokering and Lending
- Advanced Legal Aspects of Real Estate
- Advanced Real Estate Finance
- Advanced Real Estate Appraisal
- Computer Applications in Real Estate
- Common Interest Developments
Source: DRE Website (www.dre.ca.gov/examinees)
Note: If both Real Estate Economics and Accounting are taken, only two courses from the above group are required.
For exceptions to these requirements, visit www.dre.ca.gov/examinees.
Qualifying for the broker license also requires a minimum of two years’ full-time licensed salesperson experience within the last five years or two years of unlicensed equivalent experience or a four-year degree with a major/minor in real estate. Although a degree is not required, a four-year degree with a major or minor in real estate will waive the two years’ experience requirement for brokers.
Your College Journey
Is this your first question? “Where can I take the real estate courses I need?” Fortunately, many of the community colleges in California offer real estate programs that provide the courses needed to qualify for a real estate license. Relevant courses and programs can be found in their online catalogs with a simple internet search for California community college real estate programs. Also, the California Community College Chancellor’s Office lists schools with real estate programs at https://www.cccco.edu/Students/Find-a-College.
Some colleges offer courses in other real estate career areas, such as property management, appraisal, or escrow. Check the online catalogs and course schedules for the community college in your area.
For the salesperson license, you need only complete the three required courses, but some of the community colleges also offer a real estate certificate or an associate degree. While neither of these is required for the license, their completion will add to your repertoire of accomplishments and skills, making you a more attractive choice to a potential real estate team or a potential client.
Are you planning to enter a real estate profession that requires or recommends a certificate or degree? Consider getting your start at your local community college. Here you can complete an Associate or Arts or Associate of Science degree. You can also plan to transfer from the community college to a four-year college or university to earn your bachelors degree. Tip: Completing your general education courses, such as English and math, at a community college and then transferring to a four-year school can save you a significant amount of money. Check with your community college counselor or adviser to make sure the courses will transfer to the four-year school you intend to attend.
In California, students wishing to qualify for the broker license by completing a four-year degree with a major or minor in real estate may currently do so through California State University Fresno, the University of California San Diego, or the private university, University of San Diego. Additional schools may be developing such programs, so do not limit your consideration to these three.
Finally, you might wish to consider a degree in Business Administration. Real estate courses can constitute an “emphasis” in this area. Furthermore, with this degree, you can go on to graduate school to complete a Masters in Business Administration (MBA), which can give you a distinct advantage when aiming to enter some real estate professions, especially some in commercial real estate, and many others. Refer to Module 3 for more information.
Practice Zone
.jpg?revision=1) |
Review the online catalogs of a few California community colleges, starting with the one nearest you. Identify the courses, certificates, and/or degrees the college offers that are related to your career interest. |
Cost
Finance questions inevitably arise when planning an academic journey. The first one is almost always “How much will this cost?” Many colleges now post information on the overall cost of earning a certificate or degree on their websites. See, for example, the page at Santiago Canyon College Tuition and Fees https://www.sccollege.edu/students/s...-and-Fees.aspx.
The California Community College Chancellor’s Office provides general information on the page “Pay for College” at https://www.cccco.edu/Students/Pay-for-College .
The next question relates to “How will I get the money to pay for it?” Colleges and universities generally offer financial aid in various forms, such as scholarships and grants. Scholarships and grants are both forms of financial aid that help students cover the costs of education, but they differ in their sources, criteria, and sometimes in how they are awarded. Some students obtain a student loan, in which case, applicants should always determine how it will be paid back and by when.
Scholarships. Scholarships are awarded by various entities, including colleges, private organizations, foundations, and individuals. They can be merit-based, need-based, or a combination of these. Merit-based scholarships are typically awarded for academic, athletic, artistic, or extracurricular achievements. Need-based scholarships consider the financial need of the students or their family. Some scholarships are one-time awards, while others may be renewable based on academic performance or other specified criteria. Applying for scholarships usually involves submitting an application, which may include essays, recommendation letters, and documentation of achievements.
Grants. Grants, usually provided by government agencies, educational institutions, and private organizations, provide financial assistance to those who may not be able to afford education without support. Grants are typically need-based and consider the financial circumstances of the student or his or her family. Some grants are renewable based on financial need and academic progress, while others may be one-time awards. Common types of grants include federal Pell grants, state grants, and institutional grants. They may also be categorized based on the recipient's characteristics, such as minority student grants or grants for specific fields of study.
Applying for grants may involve completing the Free Application for Federal Student Aid (FAFSA) or other application forms specific to the granting institution or organization. FAFSA Students submit the FAFSA form annually to determine their eligibility for federal financial aid for college or graduate school. (One internet resource for FAFSA is the official website of the U.S. Department of Education: https://studentaid.gov/h/apply-for-aid/fafsa .)
Loans. Student loans are typically offered by government agencies, financial institutions (mostly banks) or private lenders. Loans provide immediate funding, allowing students to cover educational expenses without delay. They can be used for various educational expenses, including tuition, books, and living expenses. Loans are generally not need-based, and eligibility is often determined by the student's enrollment status and sometimes credit history. Applying for student loans involves submitting a loan application, and approval is based on the borrower's ability to repay the loan.
Unlike scholarships and grants, student loans must be repaid, usually with interest. While successful repayment will improve the student’s credit rating, if not well managed, the loan can also lead to long-term debt accumulation … and financial stress.
In summary, scholarships and grants provide financial assistance without the need for repayment. Student loans do require repayment. Each financial aid option comes with its own set of considerations, and students should evaluate their options based on their own circumstances.
College Finance Questions
The most common questions for you to consider when- How much will my education cost?
- Will I need financial aid?
- Can I apply for scholarships or grants?
- Will I be able to repay student loan debt?
- Will my projected income repay debt? (ROI)
Practice Zone
|
|