Financial Literacy Project
By Cole Blankenship
- Occupation: Agricultural Engineer
- Annual Income: 97,040
- Degree: Bachelor
- Monthly Income: 8086.67
My occupation is Agricultural Engineer. I chose this career because naviance showed careers with my interests, and it came up with agriculture and S.T.E.M (Science, Technology, Engineering, and math) so I combined the two.
- College: University of Oklahoma
- Tuition Per Semester: 10,107.5
- Total tuition to obtain degree: 80,860
- School loan terms:
- Time: 20 years
- Payment: $515.94 a month
- Addition Interest for two year deferment: 12,382.56
- School loan payment after deferment: 93,242.56
Place of Residency
- Loan Terms
-time: 30 years
- Monthly Payment: $1454.19
- Interest over time: $236,509.40
- Terms of the loan
- Monthly Payment: 508.98
- Total Interest Over The Life Of The Loan: 1436.04
1) What was your biggest learning experience throughout this project? Why?
I learned about the careers that are in my interests and the colleges that teach that career.
I also learned that getting the right job/house/car/college is a lot more difficult than it seems.
And I learned how to stay in budget and what house/car to get to stay out of debt.
2) What adjustments did you have to make throughout the project to stay within budget and why?
I had to change the state I work in. Because Texas average wage doubles Oklahoma’s, so I had to change my house and car to fit the area of my work. And I had to change the amount of years I pay off my house from 10 to 30 because I would be in debt if I didn’t.
3) How does this compare your initial ideas of beginning adulthood?
There mostly the same, but my place of work is different. Also I found a different type of engineering to fit my interests more. Agricultural Engineering had a better fit for me since it involved being outdoors sometimes, and it fit my basic interest more than all of the other careers I thought of before as a kid.