Responsible Borrowing Worksheet Essay

umpteen students borrow federal student loans to pay for college. The cultivation of this assignment is to help you learn how to borrow responsibly, which whitethorn mean that you do not borrow at all or that you borrow only what you in truth need. To borrow responsibly, you must understand your options and establish a financial plan for your entire program. With that plan in place, you slew then focus on your classes and making connections with instructors and other students.Thither are three move listed downstairs for this assignment. Respond to the questions for each step in this worksheet only and submit your finished document to the appointment Files tab.Step 1Watch the Responsible acceptance (Financial Aid) video on the orientation website located here http//www.phoenix.edu/student-orientation.html.Respond to the followers three questions in the spaces provided belowWhat is financial aid?How do grants differ from loans?What personnel does class attendance have on sup porting availability?Step 2Navigate to the individualised Finance category of the GEN/127 PhoenixConnect Community. Explore the resources provided and view many of the discussions shared by the community members.Respond to the following two questions in the spaces provided belowWhat did you find astir(predicate) student loan redefrayment plans?Why is having an educational financial plan important?Step 3Access the Financial Plan at www.phoenix.edu/financialplan. work out 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 expirations 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 occur you may borrow? Why?