ID: 2020-049 The intent of this program is to help students make informed decisions, and to help them curtail borrowing when possible to stay within manageable borrowing limits relative to anticipated future income.
Principal Investigator: Paul Conrad
Based upon input from the student, for any specific enrollment period, this computer program displays a projected funding gap; essentially, either a projected surplus or deficit, based upon anticipated expenses and available resources for this time period.
Using additional inputs from the student, a 'borrowing limit' chart displays a maximum borrowing threshold. This display, and associated underlying calculations, presents a suggested maximum borrowing threshold to the student. It displays, relative to their progress toward completing degree requirements, and relative to the maximum borrowing threshold, existing and projected debt obligations.
Dependent upon the projections provided by this program, a guidance counselor can help the student to consider adjustments to their school related expenses, as well as any nondebt resources that may have been overlooked or not considered by the student, with the intent to help the student reduce borrowing and stay within manageable limits.
Previous efforts in the office included writing notes for the student, and the use of worksheets to produce this information. This program permits the student to produce multiple iterations, isolating any one variable while leaving other variables constant, to determine the impact of changing any one input.
The borrowing limit chart is also a helpful way to display to the student where they are, in terms of current borrowing, relative to the number of hours left to complete their degree and how closely their current borrowing, and projected borrowing, approximates the projected borrowing threshold.
For more information, contact Dave Brown (801-422-4866)
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