Student Financial Education Program | Graduation Game Plan Workbook
Graduation Game Plan
Achieving College, Career, and Repayment Success
Graduation Game Plan: Achieving College, Career, and Repayment Success outlines how you
can graduate on time to a good job with manageable debt. The key is making informed
decisions throughout your time in college, including as you choose a career, pick classes,
and borrow for school. This module explains how you can make those decisions with the
help of key offices on campus and by doing some research of your own.
Knowledge in Real Time
Complete the following as you go through the presentation.
01. Complete an ______________________________________ to identify and even rank your personal
interests for the purpose of choosing a career.
02. Before moving to a new city, find out how much you’ll pay there to maintain a certain level of living,
a.k.a. the _________________________________________.
03. After a number of years in the same career, you’ll start to earn a ________________________________ ,
which falls at the mid-point of a career’s salary range.
04. A ___________________ is not just one job but a whole history of jobs in the same field.
05. The ratio of your monthly student loan payment to monthly pay is called your _____________________________________.
06. Knowing your career aspirations, an academic advisor can help you select a ____________________________, which is what
you’ll spend most of your time studying.
07. After declaring a major, you’ll draft an _________________________________________, which outlines courses you’ll take
each semester or term, up to graduation.
08. You can ballpark your annual college costs by accessing the __________________________________________
on your school’s website.
09. Your total pay before taxes are taken out is called your ________________________________.
10. Log into the ____________________________________________________________ or ________________
to access all your loan information, including servicer contact data.
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Answer Key 01 interest inventory; 02 cost of living; 03 median wage; 04 career; 05 student debt to income; 06 major; 07 academic plan;
08 net price calculator; 09 gross income; 10 National Student Loan Data System; NSLDS
FAQ
How can my school’s career center help me?
A career center can connect you to the resources and
information you need to pick a career and pursue that first
job or internship in your field. Career counselors can help
you match interests and skills to potential careers. They can
talk you through the job-hunting process and point you to
job and internship listings. They can offer advice on drafting
the best resume given your career. Just as importantly,
counselors can help you estimate future income based
on career, your first step in calculating a potential debt to
income (if you borrow).
What is the role of an academic advisor?
Your academic advisor can guide you in developing an
academic plan that helps you reach your education and
career goals. This plan serves as a roadmap to graduation,
outlining the general education classes and courses
related to your major that will allow you to satisfy credit
requirements and gain specialized training in your field.
Your advisor can also talk to you about any extra education,
like a master’s degree or higher, that might be necessary
given your career path.
What does a financial aid counselor do?
A financial aid counselor can de-mystify the whole payment
process for college. A counselor can explain your school’s
cost of attendance and help you compare it to the financial
aid you receive, such as scholarships, grants, work-study,
and federal loans. A counselor can also lend a hand in
estimating the cost to earn a degree and how much you
may need to borrow. You can then match this debt to your
estimated future income and determine if your pay will
cover the monthly repayment amount.
Should I consider a study-abroad program?
Study-abroad programs can be a real feather in your cap.
These programs offer lots of growth opportunities,
including language skill development. Employers also see
time spent in another country as a sign of your ability to
adapt and thrive.
Why do volunteer work?
Like studying abroad, volunteering shows you’re open to
diverse experiences. But, even more importantly, volunteer
work demonstrates that you’re willing to give back to your
community. That’s a real positive in the eyes of colleges and
universities in the admissions process. It can also be a great
selling point to employers. Look for volunteer opportunities
at such places as area food banks, children’s shelters,
hospitals, political organizations, and church groups.
Do some jobs offer loan forgiveness?
Yes, the federal government does offer a repayment break
if you pursue certain public service jobs. You may even get
some or most of your student debt forgiven. Under the
Public Service Loan Forgiveness Program (PSLFP), you can
qualify for forgiveness of your Federal Direct Loan Program
(FDLP) loans after making 120 monthly payments while
employed full time at qualifying government agencies
and nonprofit organizations. There is also a Teacher Loan
Forgiveness Program for qualifying elementary and
secondary teachers. Eligible borrowers can apply to have
between $5,000 and $17,500 of their loans forgiven. For
details, visit studentaid.gov.
What does networking mean?
When you network, you develop relationships and
exchange information with people who can help you
achieve your academic and/or career aspirations. These
contacts can share their experiences with you and even
offer leads on job opportunities. You can start networking
right now with folks you know, including family, friends,
roommates, faculty and staff, alumni, past and present
co-workers, and even neighbors.
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6 steps to your student
debt-to-income ratio
If you have a career in mind, make sure it pays your bills, including your student loans. Here’s a quick example
of how to calculate the ratio of your student debt to income.
01. Find out your career’s gross income through the Occupational Outlook Handbook (www.bls.gov/ooh) or similar resource.
Sample career: Computer systems analyst
Salary: $79,680
02. Divide that income by 12 to obtain a monthly figure:
$79,680/12 = $6,640
03. Estimate the annual amount you may borrow for college. You may find the average loan amount for your school
through the College Scorecard website (https://collegescorecard.ed.gov). Your financial aid counselor can also help
you estimate an amount
Example: $6,500
04. Multiply this annual amount by the number of years to earn your degree to ballpark a total amount you will
owe by graduation.
$6,500 x 4 = $26,000
05. Calculate your future monthly payment amount using an online calculator. You’ll find one example at
Adventures In Education (www.AIE.org).
Monthly repayment amount for $26,000 total debt = $271
06. Divide your monthly repayment amount by monthly income, then multiply by 100
$271/$6,640 = .0408
.0408 x 100 = 4.1%.
What’s an acceptable ratio? Experts say that when you’re considering what you can afford in student loan payments, you should
make sure that they’ll be less than 10% of your expected monthly salary. By staying below this percentage, you are less likely to
encounter financial challenges during loan repayment. In addition, experts recommend that your total loan payments — not
including a house payment — be no more than 15% of your income. Exactly what’s right for you could depend on your complete
financial picture including other forms of debt, like car payments and credit cards.
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Career Counseling
Visit your school’s career center to explore careers. Log the results here.
My Interests
My Skills
Possible Jobs
Career Profile
Job:
Starting Income:
Median Income:
Major:
Degree Needed:
Does this job complement what I hold important (e.g., income, self-expression, social good)?
What is the growth rate in this field?
Do I have to maintain certifications?
What’s the median wage?
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Academic Advising
Visit your academic advisor to learn about possible majors and draft an academic plan.
Major
Possible Careers
Classes
Freshman Year
Fall
Sophomore Year
Spring
Fall
Junior Year
Fall
Spring
Senior Year
Spring
Fall
Spring
Are there tutoring or mentoring services for my major?
Should I pursue graduate school?
What campus groups support my career focus?
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Academic Advising
Visit your financial aid office to prepare for repayment and for life after college.
My Estimated Student Debt
Year 1
Year 2
Year 3
Year 4
Total
My Debt-to-Income Calculation
Career:
Annual Income:
Monthly Income:
Total Student Debt:
Monthly Repayment Amount:
Monthly Repayment / Monthly Income x 100 =
Notes
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Glossary Terms
Surfing for More
Cost of attendance (COA): The estimated annual cost for attending
a given school, including tuition and fees; room and board;
and amounts for books, supplies, and other items. The school’s
website typically provides COA figures.
Adventures In Education (AIETM)
www.AIE.org
Default: Failure to repay a loan according to the terms of the
promissory note; serious consequences can follow, including
credit reporting and wage garnishment.
Career Choices – Adventures In Education
www.AIE.org/find-a-job/tools-and-resources/career-choices/
Income-Based Repayment (IBR): One type of income-driven
repayment plan that bases the borrower’s monthly repayment
amount on income, family size, and student debt; for qualifying
borrowers, repayment will be 10 or 15 percent of discretionary
income depending on the date loans were borrowed.
Collegegrad.com
www.collegegrad.com
Loan servicer: A company that collects payments and maintains
a federal student loan on behalf of a lender, which, in the case
of Direct loans, is the Department of Education. Your servicer
information is available through NSLDS at www.nslds.ed.gov.
Major: Field in which you focus your studies; you’ll typically
choose a major during your sophomore year and then
concentrate your coursework in this area.
Market hire rates: Rate at which graduates in a given field come
on the job market and are subsequently employed, or hired, into
their occupation.
Net price calculator: A tool for estimating the annual cost
of attending a college or university minus any grants and
scholarships made to the student; the calculator is typically
provided on an institution’s website.
Career Builder
www.careerbuilder.com
Career One Stop
www.careeronestop.org
College Scorecard
https://collegescorecard.ed.gov
Federal Student Aid
www.studentaid.gov
Major Choices – Adventures In Education
www.AIE.org/pay-for-college/understand-college-costs/major-choices/
My Next Move
http://www.mynextmove.org
MyMoney.gov
www.mymoney.gov
National Student Loan Data System (NSLDS)
www.nslds.ed.gov
Occupational Outlook Handbook
www.bls.gov/ooh
Pay As You Earn: One type of income-driven repayment plan
that bases the borrower’s monthly repayment amount on
income, family size, and student debt; for qualifying borrowers,
repayment will be 10 percent of discretionary income.
Standard repayment plan: The repayment plan you will be
automatically placed on if you don’t request a different plan;
Standard repayment comes with a 10-year term.
To learn more, visit www.TG.org/About-TG.
www.TG.org
© 2015 TG
1611-60456
To request permission to reproduce any of the
information provided, please call TG Communications
at (800) 252-9743, ext. 4732.
www.AIE.org
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website developed to help students plan and complete
their journey through higher education. By providing
free resources to students, parents, counselors, and
educators. AIE encourages individuals to discover and
pursue educational opportunities. AIE promotes a
better tomorrow by preparing students and families
for the adventure today.
TG offers the TG Student Financial Education Program, including print materials, at no cost to Texas secondary and postsecondary institutions. Certain Texas community-based organizations
with missions that focus on college access and success may also be eligible. Current institutions and organizations outside of Texas that have already been trained on the program will retain
access to the program’s materials online.
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