Responsible Borrowing Worksheet Essay Example for Free

Responsible Borrowing Worksheet testMany students suck up 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 merely what you truly need. To borrow responsibly, you must understand your options and establish a financial curriculum for your entire program. With that plan in place, you can then focus on your classes and making connections with instructors and other students.There are triad steps listed below for this assignment. reply to the questions for each step in this worksheet only and submit your completed memorial to the Assignment Files tab.Step 1Watch the Responsible Borrowing (Financial Aid) video on the orientation website laid here http//www.phoenix.edu/student-orientation.html.Respond to the following three questions in the spaces provided belowWhat is financial aid?How do grants resist from loans?What effect does class attendance have on funding availability?Step 2 fly to the Personal Finance category of the GEN/127 PhoenixConnect Community. Explore the resources provided and view some of the discussions shared by the community members.Respond to the following 2 questions in the spaces provided belowWhat did you find about student loan repayment plans? wherefore is having an educational financial plan important?Step 3Access the Financial Plan at www.phoenix.edu/financialplan. Enter your program and respond to the questions. Explore the information about options for payment, reducing cost, and military students (if applicable). If you have already completed the plan as part of the enrollment process, you can use those results for this step.Respond to the following two questions in the spaces provided belowBased 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 may borrow? Why?