Budget Overview

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My Money Sense Budget Assignment

Overview

This assignment will encourage you to examine the cost of college education, the importance of keeping a budget, and the need to plan ahead for expenses. The activity is based on the program and financial information of a fictional student we will call Heidy. The scenario below outlines her basic financial information, all of which is plugged into Heidy’s My Money Sense Workbook. You can develop your own budget with the My Money Sense Workbook Template in DocSharing under Week 2.

Instructions

Read the following student borrower scenario and review Heidy’s My Money Sense Workbook to see how the relevant information is applied within the spreadsheets. You may find it helpful to have this instruction document and the Workbook both open and visible on your computer. After examining this information and the workbook, you will be able to answer the questions in the Assessment tab under Week 3 to the left of your screen. Your answers will be graded and will count toward your overall grade in the course.

Scenario

Heidy has just enrolled in the Business Administration Program at DeVry University at the Standard Tuition Rate. She plans to complete her program in 4 years. She has entered this information in the Enrollment Details section on the Estimated Costs tab of her Workbook.

Heidy receives financial aid of various kinds each semester. She has entered her grant and loan information in the Financial Assistance section on her Estimated Costs page.

During her meeting with her Student Finance Consultant, Heidy learns about the National Student Loan Data System, www.nslds.ed.gov , where she can find information on all her Federal Loans, including Stafford Loans. She can find her loan balances for each loan and identify where she needs to make a payment if she drops below half time, graduates, or takes time off from school. Heidy remembers that her six month grace period begins as soon as she drops...
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