Peterson's FAABteachersmanual Page 32
Teacher's Manual
Page 32
WHEN IT'S TIME TO PAYBACK
LESSON PLAN #8
Lesson Objective: The students will understand some important terms and
concepts in repaying their student loans. Students will gain hands-on experience
in computing their budgets during the payback phase of financial aid assistance.
Procedure:
the students that they need to answer the questions in their own words
but that they may use their book, The Financial Aid Answer Book.
When the students have completed the task, discuss their answers as
a class.
2. Tell the students that once they've finished college and are living on
their own, budgeting will probably become a regular part of daily life.
Explain to the students that the Credit Consumer Counseling Service
(a nonprofit organization that assists individuals who need debt
counseling) has created a guideline for budgeting (Handout 7). Create
several scenarios ($1,000 monthly budget, $2,000 monthly budget)
and have students determine how much each budget item would be.
Discuss these scenarios as a class.
eliminated or reduced if their money was tight. Elicit responses such
as cable, clothing purchases, dining out, etc.
Materials: Handouts 6 & 7.
Assignment: Ask students to review the Glossary Terms in The Financial Aid
Answer Book.
