Argosy University Blog

Responsible Borrowing Series: Part One

Welcome, blog readers! Today we’re beginning a new, 6-part series on Responsible Borrowing for your education. We begin today by defining the idea of Responsible Borrowing:

Part 1: What Does Responsible Borrowing Mean?
Planning for your education is one of the most important steps to your successful future. What career field best suits you? How will you pay for your education? These questions can be answered with a little research and consideration, but today let’s concentrate on the last questions “How will you pay for your education?”

Many students use college savings that they have contributed to for years, veterans use the benefits they have earned by serving in our Armed Forces, while others depend on federal financial aid to cover the cost of tuition and other educational expenses. Federal financial aid is a great source for students, but is it the most “responsible” way to go? To help you make the best decision we want you to know that you have choices and these choices can lead to successful graduation with or without a large debt in the end.

STUDENT BENEFITS OF RESPONSIBLE BORROWING
Students who manage their debt and invest in their education are more likely to graduate. One reason may be the availability of funds throughout their education, which they have insured by only using the very minimum in loan monies. Other reasons may include the financial peace of mind that comes from making small investments along the way, thus eliminating the worry of loan payments and payback periods.

In the perfect situation, a student would be able to complete their education without taking out any loans, or paying them off while they are in school. This is what we want for each student, thereby reducing the long term debt you have when you are a college graduate. Imagine the joy of accomplishing your goal of a college education, receiving your degree and knowing that you can move into the next phase of your life with no lingering debt.

Your commitment to your education is not merely academic; it can be that time in your life that you refocus your energies in all areas of your life. Good stewardship of your finances will help you now and in the future, so take control and never borrow more than you need.

It is far too easy to borrow as much money as you possible can while in school. Don’t allow your debt to overwhelm your projected earnings upon graduation. In short, don’t borrow more than you need, do not take stipends and if you have to borrow money, use lenders that offer low interest rates and have a reputation of serving the student. The choices you make today can affect the rest of your life.

Stay tuned for Part 2: Paying for School – Your Choices

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Help Ease Your Financial Burden with These Tips

You're excited about the prospect of heading back to school online, and it will certainly fit your busy lifestyle and make it easier to balance your other responsibilities; however, there’s always been one nagging concern in the back of your mind: money. How are you going to be able to afford this? It’s not like you’re independently wealthy. If you don’t have a great sense of how you spend your money now, it’s difficult to ascertain what you can afford.

  • Track Your Spending. Keep track of every penny you spend for a month. You may be surprised at the areas where you can afford to cut back and put the money toward your education.
  • Save Wisely. If you find that your budget does have some wiggle room, put any extra money you identify aside to use for your education or other expenses that may come up along the way.
  • Set Priorities and Goals. Once you have identified money you can set aside, develop a plan for what you’d like to do with it. If it’s going toward your education, how much can you afford to contribute each month? If it’s a rainy day fund, will it go in your savings or somewhere else?

In this economy, saving money is more important than ever. If you put those savings toward your education, you can help to reduce the cost of student loans and other forms of aid. By being mindful of your spending and income, you can help set yourself up for a less stressful financial future.

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Holiday Survival Guide for Online Students

Stressed out because your to-do list is a mile long? Not sure how you're going to squeeze your studies in over the already packed holiday season? At Argosy University, we understand those challenges, and have put together a list of tips that help you make progress on your path toward graduation - even as your prepare for the hectic and happy holidays with your loved ones!

  • While standing in long lines at the checkout, use your smart phone to browse over to m.argosy.edu and see what's happening in the online classroom!
  • You're an online student, so you know the flexibility and convenience the web allows - use that knowledge to use web sites such as retailmenot.com, fatwallet.com, etc. and find out the best deals. Use the time you save by shopping online to get ahead on your readings and assignments - something unexpected always comes up during the holidays, and you don't want to get behind!
  • Take some time today to print out a few of your readings and tuck them in your purse or your bag with a highlighter or pen!
  • Add your assignment due dates to your personal calendar. Whether you use a paper planner, the calendar on your mobile phone or a product like Outlook or gMail, it will help you manage your deadlines during this busy season.
  • Make sure to get enough rest during this busy time. It may seem unconventional, but making sure you are well rested will help you to think clearer when you are taking time out for your studies, as well as improve your mood and enjoyment of your celebrations with your family and friends. Here are some tips from WebMD on maintaining healthy sleep habits.

On behalf on Argosy University, we wish you a happy and healthy holiday season!

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