David Attia - Wolfe 1. Payback - Making It Through College_University Game_Worksheet BAYLEY

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Millwoods Christian School *

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MISC

Subject

Economics

Date

Nov 24, 2024

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docx

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2

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Instructions: Play the game, Payba¢k . As you play, make realistic decisions to keep your debt manageable and maintain your focus, connections, and happiness. Make sure the decisions you make in the game are the ones you think you would actually make in real life. Record your decisions in the Round #1 column below. Round #1 Round #2 What type of school did you choose? Why? Community college Private school (Knights) Living arrangement : Home Stay in a quad room Will you work ? How many hours per week? Yes, 5 hours on Saturday and 5 hours on sunday Yes, 8 hours on Saturday and 8 hours on sunday Major , including starting salary & unemployment rate : $8,000 starting salary and 7.9 unemployment rate $12,915 and 6.2% unemployment rate Your final debt amount: $6,500 14,050 Your starting salary : $8,000 12,915 Your paycheck amount: $200 $350 Your estimated monthly student loan payment: $500 $1000 What percentage of your paycheck is used to pay your student loan debt? 80% %85
Part II: Round Two Play the game a second time. This time, choose a different scenario. This is your opportunity to see the financial impact of your school type, housing, and other college decisions. Record your decisions in Round #2 in the chart above. (I think a four years of college would cost around $40,000) Part III: Reflection 1. What two lessons did you learn by playing this game that you could apply to your real life? - Use money wisely - By stuff that you really need 2. What were the factors that you considered in choosing a college the first time you played the game? Did that change the second time you played? - The first time we played we chose the cheapest college to fit our debt and then the second round we played we chose the most expensive colleague. 3. Did you find it difficult to balance the three factors: happiness , focus , and connections ? Describe a decision you made and how it impacted each of these factors. - In the first round we weren’t able to buy anything to make us happy. We were just trying to focus on buying the things that we needed to fit in our debet. 4. How did you feel as you saw your student debt grow during the game? Did you make changes later in the game to try and keep your debt more manageable, and if so, what were they? - I got shocked when I saw my student debt grow during the game and when I saw it grow we started to buy more expensive stuff as we continued. 5. What is your attitude about student loan debt after playing the game? What do you think will have the biggest impact on your debt amount? - My attitude after playing the game is that i only need to buy something that is really needed 6. Do you think this game is reflective of the experiences you might have in college? Explain in detail - yes , because when you are in college you will be alone with money and you will need to know what you can buy with the money you have. You will need to know how to use your money wisely.
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