1. 5 Things to Consider Before Borrowing PRESENTED BY THE GRAND CANYON UNIVERSITY STUDENT LOAN ASSISTANCE DEPARTMENT

2. 1- How much money will I make? Research projected salaries Look at career growth Determine take- home pay

3. 2- How much should I borrow? Dedicate 8-10% of your future income to loan repayment. Borrow no more than your expected salary the year you graduate. Know what you owe (& subtract this from your total borrowing amount.)

4. NSLDS.ed.gov $45,000 Salary -$9,500 Outstanding loans $35,500 Borrow (no more than)

5. Step 3 – What does my budget say? Create a 50/30/20 (Needs vs. Wants) Budget Reevaluate your needs vs. wants Determine what can be allocated towards student loan debt

6. 4 – What are my Repayment Options? Estimate your monthly repayment options Adjust your repayment plan OR budget as needed

7. 5- Is there free money? Apply for scholarships Research forgiveness programs Teacher Loan Forgiveness Public Service Loan Forgiveness Consider the TEACH Grant

8. 5 Things to Consider Before Borrowing 1.How much money will I make? Look at career growth and salary outlooks. 2.How much should I borrow? Borrow no more than your expected salary at graduation. 3.What does my budget say? Determine what can be allocated towards student loan debt. 4.What are my repayment options? Choose the best option OR re-evaluate your budget OR borrow less. 5.Is there free money? Apply for scholarships, look at grants & research forgiveness programs.

9. Thank you The Student loan Assistance Department Grand Canyon University 602.639.6777