Students calculate how much they can afford in monthly student loan payments based on what their salary might be after graduating from college or another post-secondary institution.
Spend (Paying for college), Borrow (Getting loans)
CTE (Career and technical education), Math, Social studies or history
High school (9-10), High school (11-12)
45-60 minutes
Big idea
Making sure your student loan debt will be affordable once you graduate can help prepare you to manage your money in the future.
Essential questions
- How much student loan debt can I handle?
- How does the career I choose affect the amount of debt I can successfully manage?
Objectives
- Understand that your career choices may influence your ability to repay student loans
- Determine how much student loan debt you could afford based on a career’s starting salary
What students will do
- Calculate the monthly gross income for entry-level jobs in different careers.
- For each career, they’ll calculate how much money they can spend on debt repayment each month.
- Determine whether each career would allow them to afford the student loan amount described in the scenario.
Download activity
Teacher guide
cfpb_building_block_activities_understanding-how-much-student-debt-afford_guide.pdf
Student materials
cfpb_building_block_activities_understanding-how-much-student-debt-afford_worksheet.pdf
Note: Please remember to consider your students’ accommodations and special needs to ensure that all students are able to participate in a meaningful way.
