Gen200 R4 Responsible Borrowing 2 
University of Phoenix Material
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 may mean that you do not borrow at all or that you 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.
Step 1
Watch the “Responsible Borrowing (Financial Aid)” video on the orientation website (http://www.phoenix.edu/student-orientation.html). Respond to the following questions:
What is financial aid? Financial Aid helps students pay for college. This financial assistance covers educational expenses including tuition and fees, room and board, books and supplies, and transportation. There are several types of financial aid, including grants and scholarships, work study and loans.
How do grants differ from loans? Grants are money you don't have to repay and are usually based on your financial need while loans are money you borrow that you must pay back, usually with interest costs. The major grants are Cal Grants, federal Pell Grants and some smaller federal grants
What effect does class attendance have on funding availability? Lack of attendance or failure to start a course as schedule may delay, cancel or interrupt funding all together
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.
Know Your Repayment Options (https://portal.phoenix.edu/social/thread/94586)
Minimize Student Loan Borrowing (https://portal.phoenix.edu/social/thread/94695)
Creating an Educational Financial Plan
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 may mean that you do not borrow at all or that you 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.
Step 1
Watch the “Responsible Borrowing (Financial Aid)” video on the orientation website (http://www.phoenix.edu/student-orientation.html). Respond to the following questions:
What is financial aid? Financial Aid helps students pay for college. This financial assistance covers educational expenses including tuition and fees, room and board, books and supplies, and transportation. There are several types of financial aid, including grants and scholarships, work study and loans.
How do grants differ from loans? Grants are money you don't have to repay and are usually based on your financial need while loans are money you borrow that you must pay back, usually with interest costs. The major grants are Cal Grants, federal Pell Grants and some smaller federal grants
What effect does class attendance have on funding availability? Lack of attendance or failure to start a course as schedule may delay, cancel or interrupt funding all together
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.
Know Your Repayment Options (https://portal.phoenix.edu/social/thread/94586)
Minimize Student Loan Borrowing (https://portal.phoenix.edu/social/thread/94695)
Creating an Educational Financial Plan