Name:
Andy Patricio Herrera
Date:
2/7/2025
Class:
5B
 BUILDING BLOCKS STUDENT WORKSHEET
Planning your financial path to
college graduation
After you graduate from high school, you’ll have many options for
continuing your education. Most of those options will cost money.
Understanding how much college might cost and ways to cover those costs can
help you start planning your education path after high school.
Instructions
1 Review the scenario below.
2 Follow the instructions below and refer to the “Emmett compares three
financial aid offers” handout to use the Consumer Financial Protection
Bureau’s “Your financial path to graduation” tool
3 Record the answers from the tool on the worksheet.
4 Answer the reflection questions.
Scenario
Imagine that your friend Emmett has been accepted to three in-state colleges, and
each school offered him a financial aid package as a dependent student who will
live on campus. Emmett plans to graduate in four years with a bachelor’s degree.
Upon graduating, Emmett plans to look for employment in a U.S. Southern state.
He’s asked for your help understanding these financial aid offers so he has a true
sense of what his actual costs will be.
BUILDING BLOCKS STUDENT WORKSHEET
Planning Your Financial Path to College Graduation
1 of 3
Winter 2025
Figuring out Emmett’s costs to attend college
1. Write your assigned school’s name in the blank space above the table
on the next page.
2. Go to the Consumer Financial Protection Bureau’s “Your financial path
to graduation” tool at https://www.consumerfinance.gov/gradpath.
3. Review the instructions and click the “Get started” button to begin.
4. Enter your assigned school’s name in the tool.
§ Select the college that includes Washington, D.C. (This is just for
scenario purposes.)
5. Complete the questions in the tool by using data from the handout
where possible and your own creative answers when you don’t have
specific information.
§ Note: Be sure to complete all steps of the tool so that you can review a
customized estimate for Emmett and can evaluate if he can afford to pay
his student loan within the projected salary and budget at an entry-level
job upon graduating.
6. Enter the totals for each category in the table below.
Name of assigned school:
The University of Tennessee-Knoxville
School & living situation
Costs
Grants & scholarships
$11,240
$26,827 per year (Total cost)
$0 (None for the moment.
Including Work-study and
Federal loans )
Work-study
Federal loans
Other sources
$0
$0
$19,000 (This
is coming from
my personal
savings)
BUILDING BLOCKS STUDENT WORKSHEET
Planning Your Financial Path to College Graduation
2 of 3
Winter 2025
Helping Emmett plan for the future
Once you’ve entered all the information into the tool, review the tool’s final three
sections: “Affording your loans,” “Comparing your school,” and “Reviewing
your plan.” As you review each section, answer the following questions:
1. Affording your loans: What strategies did you use to help Emmett adjust the
average monthly regional budget so he could meet his loan payment and
other expenses? Based on the information in this section, what advice would
you give Emmett about taking on this much debt?
(Before I answer, I would like to say since this assignment is based on me, I will only advise "Emmet"
the things I would need to do myself in order to afford these student loans) To help adjust "Emmet"
(Basically myself) to monthly budgets and loan payments, I would honestly just seek/find more ways of
making money or bringing income to myself. For example, I would look for part time jobs with better
pay or find ways
to make
moreAfter
moneyreviewing
while in college.
would alsoinlook
cheaper housing
2. Comparing
your
school:
the Istatistics
thisforsection,
do youoptions
(such as
living
at home),about
plan and
preparing
meals
cheaply,graduation
and try not toand
go out
much to reduce losing
have
any
concerns
this
school’s
average
loan
money
in
the
long
run.
In
the
future,
I
would
also
apply
for
scholarships
and
grants
to lower
repayment rates? Why or why not? What strategies might Emmett use
to the
amount
I need to
to gooftohis
college.
Lastly,loans?
I would actually consider and think about whether or
save
money
onborrow
the cost
student
not going to college and going into debt is worth it in the long run as I should be realistic with my
After
looking
at the(Basically
statistics see
for ifthe
University
TN in
in order
Knoxville,
I feel
like the chances
are in my
financial
planning
there
is otherofways
to avoid
overwhelming
debt).
favor. This is because the graduation rate is 71.6% and the loan repayment rate is 68.4%. Even though
these percents are good, I still feel like its important for me to apply for scholarships and grants to try
to lower my student loans and try to find more ways for me to make money (such as different jobs).
And as statedyour
previously,
will try
find cheaper
housing
optionsand
(suchhis
as living
at home
and
3. Reviewing
plan:I Do
youtothink
the loans
Emmett
parents
would
preparing
meals
at
home)
to
try
to
manage
my
debt
more
better/effectivley
while
succeeding
take out to go to this school are worth the investment? Why or why not? in college.
In my opinion, I feel like the investment into college is worth it. Even though the (estimated) total debt
at graduation would be 36,419, the median salary for recently garduated students is 46,273, and I am
really motivated/passionate that college could work out for me (As I would really like to know more
about criminal justice and I really feel like I could complete this degree).
Reflection questions
Three strategies high school students can use to help pay college costs are:
§ Start reviewing grants and scholarships
§ Make a budget and start saving
§ Get college credits in high school through special courses or programs
Which strategy would work best for you? Why did you choose that strategy?
BUILDING BLOCKS STUDENT WORKSHEET
Planning Your Financial Path to College Graduation
3 of 3
Winter 2025