Do you need to borrow?

Use this worksheet to list your monthly income and expenses while attending post-secondary school. You may need to borrow less than you think!


Instructional Text

If the combination of your savings, grants, scholarships, and work-study isn’t enough to pay for school, you may need to borrow money, too. Image Description
But remember: after you leave school, you’ll have to repay your student loans, with interest. So before you borrow, make sure to explore all of your options. Focus on getting grants and scholarships that don’t have to be repaid. Image Description
And to keep your financial future healthy, borrow only the amount you’ll need. Image Description
Use this worksheet to look at your income and expenses while you’re in school. If your expenses exceed your income, you may need to borrow enough to cover the difference. But if the difference is a positive number or close to zero, you may not need to borrow at all. Image Description
MONTHLY INCOME
Sources
Estimate
Job or work-study
Financial help from relatives
Scholarships
Grants
Loans
Savings
Other Income
TOTAL MONTHLY INCOME
MONTHLY EXPENSES
Estimate
Expenses
Tuition
Room and board (if you live on campus)
Rent and utilities (if you live off campus)
Food and snacks
Books and supplies
Transportation
Medical/dental/vision insurance & expenses
Phone/Internet
Entertainment
Personal (clothing, laundry, toiletries)
Miscellaneous
TOTAL MONTHLY EXPENSES
Total Estimated INCOME
Total Estimated EXPENSES
Money Remaining
Actual Earned
Actual Spent

Student Finance Worksheet

Income
Job or work-study $
Financial help from relatives
Scholarships
Grants
Loans
Savings
Other income
Total Monthly Income $
Expenses $
Tuition
Room and board (if you live on campus)
Rent and utilities (if you live off campus)
Food and Snacks
Books and supplies
Transportation
Medical/dental/vision insurance and expenses
Phone/Internet
Entertainment
Personal (clothing, laundry, toiletries)
Miscellaneous
Total Monthly Expenses $
Income Less Expenses $
A student loan is a long-term commitment. Before you accept a loan, research its rates and fees, the length of the repayment period, and your rights and responsibilities as a borrower.
To print out a blank worksheet, click on Library. Click the Next button to explore how much debt you think you can repay.