banner image

Tool Helps Reduce Your Need to Borrow

graphic of pencil and banners, all content detailed below

How do you know if you can afford a particular college or how much is too much to take out in student loans?

One key indicator recommended by experts is a monthly student loan debt-to-income ratio of 8%–12%. An easier way to think of this is that total student loan debt, for all years of college, should be no more than the expected first-year salary.

ISL Education Loan's Student Loan Game Plan is an interactive online tutorial that walks students through this concept, as well as several other important points about borrowing for college, including:

  • Stories about the issues faced by real-life borrowers when they took on too much student loan debt.
  • Salary and borrowing information based on college major or career choice and existing debt.
  • How in-college and after-college choices, including earnings, living arrangements and monthly spending, can affect overall student loan debt level.
  • The ability to see how making voluntary interest payments during college affects total estimated loan repayment.
  • Tips for reducing expenses and the need to borrow to pay for college costs.
Student Loan Game Plan is available free online.

Related Articles

Find this article interesting? Check out the articles below on similar topics.

student working at computer
Know the Difference: Types of Financial Aid

The variety of college funding sources often leads to confusion as students and parents plan for college. This financial aid primer can help you sort out and compare financial aid options.

Continue reading article.

screenshot of video
Student Loan Pro Tip: First Year Salary

Don't borrow more for college than you can comfortably pay back. Here's how to estimate your expected first year salary. Use our College Planning Tools to learn more about student loans and avoiding debt.

Continue reading article.

screenshot of video
Tools & Resources: Student Loan Game Plan

Student Loan Game Plan is an online, college planning tool that demonstrates how student loan debt may affect your financial future and presents ideas for a customized action plan to reduce borrowing for college.

Continue reading article.