Student Loan Budgeting By Egbert Batchelor Theme Education
Student Loan Budgeting By Egbert Batchelor Theme - Education; discovery beyond your obligation? MATH 103: Survey of Mathematics Professor Dr. Hector Valenzuela Student Loan Budgeting 12/04/2016 11/17/2016 1
Education; discovery beyond your obligation? Hypothesis! § The Hypothetical Probe: investigative workplace discovery for improved literacies leads to a raised efficiency bar for the student to enterprise into a robust savviness, commonsense cognition, and pragmatic preparation for competitive adaptation to commerce and beyond his/her indebtedness. § Outcome: to plan immortality beyond indebtedness, to optimize potential, & engage in economic adaptation; q Robust savviness to show value - preparation q Commonsense knowledge of the probe - evaluation q Pragmatic preparation for commerce - remedy §Student The Loan scenario: explore student loan, amortization, & budget 11/17/2016 2 - in context of this probe, provoking thought and interest! Budgeting
Education; discovery beyond your obligation? *The Hypothetical Probe* To outlive ones loan obligation! o Upon completion of my undergrad in Paralegal Studies, my student loan balance would be $47, 500. 00 @ a rate of 4. 31% and my monthly repayment of $585. 87 will take me to a payoff date of early 2028. I plan to outlive my indebtedness Student Loan Budgeting 11/17/2016 3
Education; discovery beyond your obligation? preparation Robust savviness to show value Student Loan Budgeting to outlast the mortality of your debt is 11/17/2016 to gain knowledge for your generation and beyond 4
Education; discovery beyond your obligation? Student debt! o College costs rise yearly as student loan debt grows while many graduates face limited job prospects and struggle to maintain their student debt obligations. (credit. org, 2014) ØFactoids: (Student loan counselling page) ü 2/3 of students borrow money for college (credit. org, 2014) ü 37 million borrowers currently owe student debt (credit. org, 2014) ü Student loan debt now totals over 1 trillion dollars (credit. org, 2014) Student Loan Budgeting ü Americans have more student debt than credit card debt (credit. org, 2014) ü The average student loan debt is over $35, 000 (credit. org, 2014) ü College costs are up 42% in the last 10 years (credit. org, 2014) 11/17/2016 ü College costs are continuing to go up by 6% per year (credit. org, 2014) 5
Education; discovery beyond your obligation? o We must outlast our debt! • Why do students take out student loans to pay for their education? • According to Credit. org, “As 2014 begins, the most recent studies available show that the average student loan debt is $35, 200. That’s for the class of 2013. These statistics are courtesy of a survey from Fidelity Investments. ” • The editorial continues, “As you can see on our student loan counseling page, 2/3 of students borrow money for college [page 4 of this project], and college costs are up 42% in the last 10 years. They’re not stopping, either. College costs continue to rise by 6% per year, even while average family incomes are stagnant or declining. ” (Credit. org News) Student Loan Budgeting 11/17/2016 6
Education; discovery beyond your obligation? evaluation Commonsense knowledge of the probe outlive your debt constitutes greater adaptation and competitiveness Student Loan Budgeting Cognition of commerce and being a crucial player in the marketplace 11/17/2016 7
Education; discovery beyond your obligation? • Student Loan Budgeting 11/17/2016 8
Education; discovery beyond your obligation? • Student Loan Budgeting 11/17/2016 9
Education; discovery beyond your obligation? • Student Loan Budgeting 11/17/2016 10
• Education; discovery beyond your obligation? Student Loan Budgeting 11/17/2016 11
Education; discovery beyond your obligation? remedy Pragmatic preparation for commerce Student Loan Budgeting to bring worth to the marketplace in lasting remedies; 11/17/2016 your trends create longevity by strategically thinking ahead of 12
Education; discovery beyond your obligation? o Showcase • In consideration of the repayment options and the context of this material presentation, it is recommended that option number two* (2) is the most prudent of choices. • Against the backdrop of a national mean salary (Bureau of Labor and Statistics) of $50, 820 to 89, 270 (industry specific), a monthly repayment of $585. 87 makes a great fit. • However, a suggested additional payment of $587. 87 per quarter or $146. 46 monthly could reduce the cost of the loan to $43, 939. 90 (savings of $12, 303), and interest total to $6, 679. 10 (savings of $2, 063. 98), if I get quarterly bonuses (negotiable remuneration). (BLS 2015, May) Student Loan Budgeting; * Option no 2 per page 9, for 8 years. 11/17/2016 13
Education; discovery beyond your obligation? • Showcase (continued) • • • Explore importance to outlive my debt? How to materialize literacy superiority? What steps are mandatory to ensure successful transitioning? How do I address the ‘what ifs’ in my path? Evolving my workplace literacies beyond its ‘beta’ test? Student Loan Budgeting 11/17/2016 14
Education; discovery beyond your obligation? o More Essentials: • Why did I opt for student loans? • In what way will this be beneficial over and above using a personal financing approach? • What if I were to get stuck before completion of my degree program, what is my egress? • Can I see myself in a better financial position with a student loan financed education versus being without one, hypothetically? • How do most students end up and what are the general outcomes after graduations? • Do the graduates become more improved economically, and why? Student Loan Budgeting 11/17/2016 15
Education; discovery beyond your obligation? o Takeaways • Allow our education to take us beyond our loan indebtedness Knowledge • Savvy preparation that brings value in education beyond one’s indebtedness and cognition of commerce into being a market player • Commonsense in raising the bar of literacy, knowledge, and pristine adaptation to compete in commerce • Worth enhancement by longevity and inventing lasting remedies Student Loan Budgeting 11/17/2016 16
Reference: • BLS; (2015, May) Occupational employment and wages, Retrieve from; https: //www. bls. gov/oes/current/oes 232011. htm • Di. Benedetto, Catherine A & Myers, Brian E. (2016, May, 2 nd) A Conceptual Model for the Study of Student Readiness in the 21 st Century, NACTA Journal. 2016 Special Issue, Vol. 60, p 28 -35. 8 p. ISSN: 0149 -4910; Retrieved on 11/19/2016 from; http: //eds. b. ebscohost. com. libproxy. bryantstratton. edu: 2048/eds/pdfviewer? vid=5&sid=b 2 c 062 c 0 -23184064 -b 1 a 8 -f 54 d 8262 e 618%40 sessionmgr 103&hid=111 • Delisle, Jason (Other authors: Owen Phillips, and Ross van der Linde), The Graduate Student Debt Review; RISING DEBT in GRADUATE EDUCATION, https: //static. newamerica. org/attachments/750 -the-graduate-studentdebt-review/Grad. Student. Debt. Review-Delisle-Final. pdf • Editorial The average student loan debt continues to climb, Internet Blog Credit. org News, dated December 27 th, 2013, retrieved on 11/19/2016 from • • http: //www. credit. org/2013/12/27/average-student-loan-debt/? gclid=CMSn 6 -ertt. ACFcd. LDQod. ABc. KQw • Tan, Cheng Lee; Ng, Lee Luan; (December 10 -12, 2014). 7 pp. ) Assessing Critical Thinking Performance of Postgraduate Students in Threaded Discussions, International Association for Development of the Information Society, December 10 -12, 2014). 7 pp. Retrieve on 11/19/2016 from: http: //files. eric. ed. gov/fulltext/ED 557315. pdf -and- The Student counselling: http: //www. credit. org/student-loan-counseling/ Piggyback on (Newamerica. org) A Look at the Shocking Student Loan Debt Statistics for 2016; https: //studentloanhero. com/student-loan-debt-statistics/ Student Loan Budgeting 11/17/2016 17
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