Assignment - Financial Choices

Your Task:  Help John make good decisions based on the information and questions below.

John is leaving his rural home to go to college.  Along with an allowance from Mom and Dad, he gets a Canadian Student Loan for $13000 for one year.  John lands on campus, and is immediately led to the Campus Activity Centre for Campus Orientation.  He is introduced to campus social life, which involves girls, alcohol and unfortunately an introduction to a rich kid, who does not care about money.

From the $13,000, John pays course fees, activity fees, books and accommodation.  Money set aside for clothing and food are spent on partying.  By early November, John is eating two slices of bread with porridge.  His class efforts dropped, social life is bankrupt and rich kid has moved on.  Mom and Dad's support, a small amount only serves to remind him how bad off he is.  Once a month he lives like the rich boy for a couple of days.

What were the red flags (meaning dangers) that indicated that John could not manage  a $13,000 Student Loan?

What would you suggest that would have helped John manage better?

Submission

Use the " Financial Choices" link on the main page of this section of the course to upload your assignment to your teacher for marking.

Your assignment will be marked using the following rubric.

Identification of main problem(s)/issue(s)

Identifies and demonstrates a sophisticated understanding of the main issue(s)/problem(s) in the case study
4 points

Identifies and demonstrates an accomplished understanding of the issue(s)/problem(s)
3 points

Identifies and demonstrates a satisfactory understanding of the issue(s)/problem(s).
2 points

Does not clearly identify the problem(s)/issue(s) for this case study.
1 point

Does not identify issue(s)/problem(s)
0 points

Analysis and Evaluation of Issue(s)/Problem(s)

Presents an insightful and thorough analysis of all identified issues(s)/problem(s).
4 points

Presents a thorough analysis of most of the issues identified.
3 points

Presents a satisfactory analysis of the issues identified but there are missing items.
2 points

Presents a superficial or incomplete analysis of some of the identified issue(s).
1 point

No analysis or evaluation provided.
0 points

Recommendation of Effective Solution(s)/Strategies

Provides recommendations based on evidence provided in the case study.
4 points

Provides recommendations with limited reasoning and evidence from the case study.
3 points

Provides hasty recommendations without thought to the case study.
2 points

Little or no action suggested and/or inappropriate solutions proposed to the issue/problem in the case study.
1 point

No recommendation made.
0 points

Grammar, Spelling and Mechanics

Free of errors.
4 points

Occasional grammar, spelling and mechanical errors.
3 points

4 or 5 errors in grammar, spelling and mechanics.
2 points

More than 6 errors in grammar, spelling, and mechanics.
1 point

Unacceptable
0 points

Submit your responses to the questions in the online text box or attach a file to the assignment submission link.