Name: Pd:

New- SEMESTER 1 Final Project Part I:College Debt And Payment Option$

Description:In this activity, you will create a plan to determine your best post-secondary education option.

Prereqs:Career Center Research Document

Objective:Learn how to use excel as a tool to evaluate various real life scenarios.

Software:Microsoft Word & Excel. Google Docs is a good free option if needed.

Due Date:Part I needs to be completed by this December 11th 2017.

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Step 1:Save a copy of this document immediately to your computer.

Step 2:Knowing your career choice prior to starting your post secondary education saves you thousands of dollars. Look carefully at the career and education packet you filled out during the career center presentation. Given all that information, what is your career choice? Give a brief explanation as to why you chose that specific career.Career:Explanation:

Step 3:Now you need to find a post secondary program that best leads you to your career. You are encouraged to use the most realistic scenario possible. The following website may help you find some post secondary options that meet your objectives: If you already know you are attending Bellevue College, or any other school, find a program through their website.

School #1: Program #1:School #2:(if you plan on attending multiple schools)Program #2:(if you plan on attending multiple schools)

Step 4:Next you need to figure out the time the program will take to complete. It may be helpful to use the unit of time that the school uses to show their average cost (years, semesters, months, etc.).Amount of time it will take to complete program#1 (in years):Amount of time it will take to complete program#2 (in years):Total time to complete schooling/training programs (in years): 0.00(use for Step 7)

Step 5:What is the anticipated yearly cost of your tuition? Books? Room and board? If your program is shorter than 1 year just use the numbers for the total cost. You can save a lot of money by living at home, if your parents allow it. The best place to find this information is on the college/university’s website.

Tuition #1:Room & Board #1:Books #1:Total Yearly Cost #1:$0.00Tuition #2:Room & Board #2:Books #2:Total Yearly Cost #2:$0.00

Now find your total cost of education. Take the total number from Step 4 and multiply it with the numbers from Step 3. If you have an alternate cost, enter it below.

Step 3 -Years to complete #1:0.00Step 4 - Total Yearly Cost #1:$0.00Total Cost of Education #1:$0.00Step 3 - Years to complete #2:0.00Step 4 - Total Yearly Cost #2:$0.00Total Cost of Education #2:$0.00

Total Cost of Education #1:$0.00Total Cost of Education #2:$0.00Alternate Total Cost (if needed):*use only if program is not defined by yearsTotal Cost of Education$0.00

Step 6:Let’s assume your parents cannot help you with college. If you haven’t already filled out a FAFSA (Free Application for Federal Student Aid) you’ll need to fill out the FAFSA4caster to figure out the following information at and fill out the FAFSA4Caster under “Thinking about college” in the bottom right of the screen. If you are unclear whether a discount is either “One-Time” or “Yearly” consult your teacher or the Career Center. Yearly Discounts are multiplied by your answer in Step 4.

One-Time Tuition Discounts(if the grant occurs only once during college)Federal Pell GrantsState GrantsCollege GrantsScholarshipsWork StudyFamily/Self Pay*OtherTotal 1-Time Discount:$0.00Yearly Tuition Discounts(if the grant occurs on a yearly basis, enter it here)Federal Pell GrantsState GrantsCollege GrantsScholarshipsWork StudyFamily/Self Pay*OtherTotal Yearly Discount:$0.00

Direct Stafford Loans:Direct Subsidized Stafford Loans (use for Step 7)DirectUnsubsidized Stafford Loans (use for Step 7)Total Direct Stafford Loans:$0.00 Total Cost of Education$0.00(includes room & board)-Total College Discount$0.00Total Loans Needed$0.00***Total College Loans$0.00-DirectStafford Loans$0.00Private Loans Needed$0.00(use for Step 7)

Step 7:Now that you know the amount of student loans needed, you need to calculate the monthly payment for each type of those loans.Each type of loan uses a different rate, and ALL of the private student loans accrue interest as you are in school (meaning that $5,000 you borrowed as a freshman turned into $7,000 by the time you were a senior). Thus, you will also need to calculate the future value of your private loans and the Unsubsidized Stafford Loan (we will discuss this in class, but basically under Monthly Loans you take Step 6 and divide it by Step 3*12 and that is the principal for a future value of a periodic deposit). To find out more information about college loan categories just click on the links below.

Subsidized Stafford:Principal, P:$0.00Rate, R:Periods, N:12Years, T: 10 or 30Monthly Pmt:Unsubsidized Stafford:Monthly Loans:$0.00Rate, R:Periods, N:12Years, T:0.00Future Val, B:Principal, P:$0.00Rate, R:Periods, N:12Years, T: 10 or 30Monthly Pmt:Private Student Loans:Monthly Loans:$0.00Rate, R:Periods, N:12Years, T:0.00Future Val, B:Principal, P:$0.00Rate, R:Periods, N:12Years, T: 10 or 30Monthly Pmt:

Step 8:If you add the three monthly payments together, you have the payment amount. That amount is $0.00. In order to figure out if this is a reasonable amount, you need to consider your monthly income. Get out the Career Center Research Worksheet from the past week. Enter the following information:Primary Career: WA 10% Salary:divided by 12 months = $0.00 per monthWA Median Salary:divided by 12 months = $0.00 per month

Step 9:According to your career selection, you will make between $0.00and $0.00 per month. Choose a reasonable figure for a first year employee within that range to consider if your college bill is reasonable. Remember the number below is dollars per month.Monthly Income:

Step 10:Below is the typical budget breakdown recommended by most financial planners based on the number you have entered:Monthly Gross Income:$0.00-Monthly Taxes:-$0.00 (17%)-Monthly Rent/Housing:-$0.00 (30%)-Monthly Food/Groceries:-$0.00 (13%)Monthly Net Income:$0.00-Student Loan Payment:-$0.00Discretionary Income:$0.00Does this amount seem reasonable? Does this confirm or change your mind about your desired primary career choice? Answer with complete sentences below (this will not spell check, so please write this in another document and then copy and paste it over). ENTER SPELL AND GRAMMAR CHECKED RESPONSE

Step 11:Save your document again. Then double check the calculations in this document. You may need to highlight certain fields again by double clicking to regenerate a calculation that is incorrect. Double check your grammar in Step 10. Once you have double checked everything, print out 2 copies of this document.