How to let automation drive your data mapping process. Tying it all together – best in class data mapping.ġ.Working to live like a student now and relying less on loans for items beyond tuition can make a world of difference in your future finances. Is your loan borrowing now making it more difficult to live your desired lifestyle in the future?
What other monthly expenses will you have beyond student loan repayment? Rent and food will begin this listing, but you may also have car payments, insurance and credit card debt to assume. Your net income (salary x 70%) when divided by 12 will give you an approximation of your monthly take-home pay.
Understand that approximately a third of your gross salary is already spoken for in the form of taxes, Social Security withholdings, health insurance, and other up-front deductions. What will be your income? While you can review salary levels for positions, be realistic in what your entry-level salary will be. What will be your anticipated cumulative loan debt and monthly loan repayment amount? You don't want to borrow so much that your standard of living while in repayment is compromised more than it is when you are borrowing.Ĭonsider your repayment amount on your current borrowing level as well as your projected levels assuming additional borrowing to take you through your degree. When borrowing loans, you want to do so with your monthly repayments in mind. Credit card purchases are part of your overall debt and should also be limited. Think about what other expenses and debt you will have as you begin your first job. Look at your total loan debt but also at the expected monthly repayment associated with your loan. It is helpful, when considering how much to borrow, to examine what you can reasonably expect to repay upon the completion of your academic career. What expenses can you cover from other aid sources? From savings? From part-time employment? From other resources? Also, what expenses can you reduce or eliminate?Īccepting loan money can be easy. Before accepting loans on your Award Offer, determine what you truly need to cover your expenses.
#MAPPING YOUR FUTURE STANDARD CALCULATOR FULL#
Federal Subsidized, Unsubsidized and PLUS Loans are offered at maximum levels in order for you to know your full eligibility. But are you borrowing to pay for an education or a lifestyle while in college? Have you set up a budget to keep yourself in financial order?īorrow only the amount of loan that you need. Your education is an investment in your future. Academic Progress right arrow down arrow.Live Like a Student right arrow down arrow.Tools & Resources right arrow down arrow.Cincinnatus Community Service right arrow down arrow.Loan Process & Promissory Note right arrow down arrow.Year-Round Aid Distribution right arrow down arrow.Alternative Loans right arrow down arrow.Federal Direct Graduate PLUS Loan right arrow down arrow.Federal Parent PLUS Loan right arrow down arrow.
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