GEN 201 Week 1 Responsible Borrowing Worksheet

GEN 201 Week 1 Responsible Borrowing Worksheet 

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GEN 201 Week 1 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. To do so, you must understand your options and establish a financial plan. Use this opportunity to complete this plan and develop expertise in responsible borrowing.

Review the “Responsible Borrowing” video as well as the resources included in the Responsible Borrowing Worksheet.

Complete the Responsible Borrowing worksheet.

Submit your completed worksheet to the Assignment Files tab.

Responsible Borrowing Worksheet

Many students use federal student loans to pay for college. The goal of this assignment is to help you learn how to borrow responsibly, which means 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.

Complete each step and respond to the questions for each.

Submit your completed worksheet to the Assignment Files tab.

Step 1

Watch the “Responsible Borrowing” video located in your Week 1 Required Learning Activities.

Type in the blanks with the correct terms, or corresponding letter:

1. Subsidized

1. Unsubsidized

1. Grants

1. This type of federal financial aid generally does not have to be paid back: _______________

1. To qualify for this type of federal loan, a student must show demonstrated financial need: ____________________

1. With this type of federal loan, you are responsible for interest accruing as soon as the loan is disbursed: _____________________