Lesson Plan 7: Your SLOPE and Your Future Lifestyle ... - Bridges

Lesson Plan 7: Your SLOPE and Your Future Lifestyle
Core www.cfnc.org Area:
Financial Planning
Total Time:
50 minutes.
Target Grades:
Appropriate for 11-12, Recommended for grade 12
Suggested Timeline:
Grade 12: Winter Semester
ASCA Correlation
(Which of the ASCA Standards does this lesson address?)
A-A A-B A-C C-A C-B C-C PS-A PS-B PS-C
X X X X X X X
Lesson Objectives
(What will students know and be able to do when the lesson is complete?)
By the end of the lesson, students will understand what the total cost of their student loans could
be, what they will cost per month, and how those payments will impact their overall future lifestyle.
Materials Needed
(What materials are needed to deliver this lesson?)
Reserve computer lab or computer cart
Your SLOPE and Your Future Lifestyle worksheet
Advance Preparation
(What does the instructor need to do in advance in order to be prepared to deliver this lesson?
How much time is required for advance prep?)
Print Your SLOPE and Your Future Lifestyle worksheet– 10 min
Activator (Typically 5-10 minutes)
(How will you tap into the learners’ background knowledge and help them view the lesson as
relevant?)
Demonstrate the importance of financial aid planning and budgeting by discussing the following
points:
Once you finish your education, you will have to repay all of your student loans
The interest on your student loans increases the amount that you will have to pay
Your monthly payment will have an impact on your future lifestyle
The Student Loans Over Projected Earnings (SLOPE) calculator will help you to evaluate
whether or not you will be able to afford the loans that you are considering taking out
www.cfnc.org will:
Help students to evaluate their SLOPE
Assist students in developing a budget and prioritizing expenses in their future life
Save student work
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Core Learning Strategies/Lesson Activities (Typically 30-40 minutes)
(How will you facilitate the learning of knowledge/skills using adult learning strategies? How will
you provide for skill practice? How will you differentiate learning, as appropriate, for different roles,
skill levels, and experience?)
Session # Step # Responsibility Action Steps
1 1 School
counselor
Focus on today’s work:
1. Distributes the Your SLOPE and Your Future
Lifestyle worksheet
2. Asks Students to sign into www.cfnc.org
and click on the Financial Aid Planning Tab, then on
Financial Aid Calculators
2 Student Completes the SLOPE calculator
Answers the related questions on the
worksheet
3 Counselor Assists students with the worksheet as
needed
4 Student Completes reflection question, “When
planning your financial budget for your future
lifestyle, you have to take into account both
your needs and your wants. What are some
things that you want – a large house, a boat,
and designer clothes? What would you be
willing to compromise on to ensure your own
financial fitness?’ in the Your Journal section
of the Your Portfolio tab of www.cfnc.org
(This question is also located on the student
worksheet)
5 Student Saves the worksheet in a paper portfolio or
attaches an electronic copy to their
www.cfnc.org Portfolio
(chart from RI School Counselor Association’s Toolkits, found at www.rischoolcounselor.org)
Summarizer/Informal Assessment (Typically 5-10 minutes)
(How will you engage learners in processing and summarizing what they learned? How will you
know that the objective has been achieved?)
Complete reflection in Portfolio of www.cfnc.org
Attach worksheet to portfolio or save in a paper portfolio.
Discuss what students have learned
Follow-Up
(What additional learning could occur during the year? When?)
Student, parents and counselor will review information during financial aid planning
Students can complete the activity suggested the in the article ‘Sort Out Your Values’ in the
Financial Aid Planning Tab of www.cfnc.org (Financial Fitness section).
What’s Your SLOPE?
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Part 1:
1. Log into www.cfnc.org
2. Click on the Financial Aid Planning Tab, then click on Financial Aid Calculators
3. Click on the Student Loans Over Projected Earnings (SLOPE) Calculator
4. Read the information provided, then click Start the SLOPE Calculator
5. Fill out all of the information with your best information or best guesses. If you have already
received your financial aid packages, take you information from there. If you have not
received your financial aid packages, list loan amounts that you hope to receive based on
the cost of the school that you hope to attend.
Part II: Answer the following questions about your potential loans:
1. What is your Total Loan Balance?
2. What is your Total Loan Monthly Payment?
3. What is your Total Interest Paid?
4. What is the total amount that you will pay if you take out these loans?
5. What is your SLOPE (remember, 8% or less is a safe SLOPE)?
6. Are you comfortable with this loan amount?
Part III: Your Future Lifestyle – Fill out all of the information on the future lifestyle page. You may
need to explore a few web sites or ask your teacher or counselor to suggest the average cost of
some items. Once you’ve filled out this page, answer the following questions about the potential
future lifestyle that you have described:
7. What is your Net Income?
8. What will your Total Fixed Expenses be?
9. What will your Total Variable Expenses be?
10. Look at your Financial Summary. After you subtract your Fixed and Variable Expenses
from your Net Income, how much money remains (Your Total Net Income)?
11. If you do not have any money remaining (or you’re in debt at the end of the month) what
could you cut out?
Reflection: In your portfolio journal (or on the back of this page), reflect on the following question:
When planning your financial budget for your future lifestyle, you have to take into account both
your needs and your wants. What are some things that you want – a large house, a boat, and
designer clothes? What would you be willing to compromise on to ensure your own financial
fitness?
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