I saw this quote in a CNN Money article about student loan repayment becoming a new corporate benefit:

"When I got my salary, I thought it was so much money. But then I started making my budget and it became real to me how much my student loans would affect my day-to-day living," said Florentino, a 25-year-old single mom

The final screen that students see when playing PAYBACK shows two numbers: their monthly salary and their monthly student loan payment. Rather than wait until after graduation to face this reality, we hope the experience of playing PAYBACK will make students more mindful about the impact of student loan payments BEFORE they decide on a college choice.

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Be sure to have your students complete this worksheet as they play PAYBACK. 

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.