Responsible Borrowing Worksheet Essay

Many scholarly persons borrow federal student loans to pay for college. The object 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 further 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 then stress on your classes and making connections with instructors and other students.There are three stairs listed below for this assignment. move to the questions for each step in this worksheet only and conjure up your completed document to the Assignment Files tab.Step 1Watch the responsible Borrowing (Financial Aid) video on the orientation website located here http//www.phoenix.edu/student-orientation.html. act to the following three questions in the spaces provided belowWhat is financial aid?How do grants differ from loans?What effect does class attendance have on musical accompaniment availability?Step 2Navigate to the Personal Finance stratum 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 two questions in the spaces provided belowWhat did you find about student loan repayment plans?Why is having an educational financial plan definitive?Step 3Access the Financial Plan at www.phoenix.edu/financialplan. take part your program and respond to the questions. Explore the information about options for payment, reducing cost, and military machine students (if applicable). If you have already completed the plan as part of the adjustment 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 get along you may borrow? Why?