GEN 201 WEEK 1 Responsible Borrowing Worksheet

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GEN 201 WEEK 1 Responsible Borrowing Worksheet

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GEN 201 WEEK 1 Responsible Borrowing Worksheet

GEN 201 WEEK 1 Responsible Borrowing Worksheet

Complete the : Responsible Borrowing Worksheet.

Submit your assignment to the Assignment Files tab.

Responsible Borrowing Worksheet

Many students acquire federal student loans to pay for college. The goal of this assignment is to help you learn how to borrow responsibly, which means that you do not borrow at all or that you may borrow only what you truly need. To borrow responsibly, you must understand your options and establish a financial plan for your entire program. With that plan in place, you can focus on your courses and make connections with instructors and other students.

 

Complete each step and respond to the questions for each at the end of this document.

 

Step 1

 

Watch the “Responsible Borrowing” video on the orientation website: http://www.phoenix.edu/student-orientation/paying-for-school/responsible-borrowing.html.

 

Respond to the following questions:

 

  • What is financial aid?
  • How do grants differ from loans?
  • What effect does class attendance have on funding availability?

 

Step 2

 

Navigate to the Your Student Loans category of the Financial Services PhoenixConnect Community. Explore the resources provided, as well as some of the discussions shared by community members. Pay special attention to the following posts, and use them to answer the follow-up questions.

 

 

Respond to the following questions:

 

  • What did you find about student loan repayment plans?
  • Why is having an educational financial plan important?

Step 3

  • Based on this plan, what is your estimated monthly payment when you enter repayment?
  • As a result of completing the plan, what changes can you make to reduce the amount you might borrow? Why?

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GEN 201 WEEK 1 Responsible Borrowing Worksheet

GEN 201 WEEK 1 Responsible Borrowing Worksheet