At Argosy University, Online Programs, our Student Finance Counselors talk a lot about financial planning and responsible borrowing. But, what do we mean by responsible?

Responsible borrowing entails detailed planning and analysis of your finances and your financing options to decide what is right for you. If you choose to take out loans, responsible borrowing means only doing so after looking at alternative options and only borrowing what is necessary. While students sometimes limit their search to federal sources, federal financial aid often means loans and doesn't necessarily cover all of your expenses.

Below are some of alternatives to federal aid that could help you reduce your tuition and student loans.

Cash Payments

Establishing a monthly tuition payment plan can greatly reduce the cost of your education. Your contribution doesn’t need to be large, but every bit you pay now is something you won’t have to pay later or pay interest on down the road.

Military Financial Aid

If you or a family member has served in the military, you may be eligible for military financial aid, including our school’s military scholarship. We also participate in the Post 9/11 GI Bill and the Yellow Ribbon program. Don’t miss out! Visit http://online.argosy.edu/military/military_aid.aspx, or call 1-877-800-8412 to speak with a Military Admissions Representative for more information on these programs.

Employer Partnerships

We partner with a number of companies to offer employees incentives for continuing their education—from corporate rates to the waiving of select fees. See our list of partners here. If your employer isn’t listed, you may still qualify for financial assistance through your company.

There are two common types of employer assistance programs. Employer reimbursement programs require you to pay tuition up front. You then provide documentation to your employer stating how much you paid and showing that your coursework is relevant to your career. Your employer pays you back for your tuition and expenses. Employer sponsorship programs, conversely, involve your employer paying the school directly for approved coursework. If you aren't sure what educational benefits your employer offers, ask your manager or your human resource representative.

Scholarships and Grants

Many organizations (including local, national, private and non-profit groups) offer scholarship opportunities or grants to students who meet specific criteria. Many people think scholarships are reserved only for students with superior grades or athletic ability. However, this is not necessarily the case. For example, many scholarships exist for students pursuing careers in specific industries. Plus scholarship criteria can sometimes be quite idiosyncratic. For example, scholarships exist for left-handed students or students whose last names start with Z! So make a list of everything unique about you and start searching.

Learn More About Financial Planning

If you want to go to school (or you’re already here), don't limit yourself to relying only on federal loans when there are other ways to make school affordable and reduce your future debt.

Request more information today, or talk with your Student Finance Counselor to discuss your financial plan.

If you're already taking classes or you've been to college before, you are probably somewhat familiar with the FAFSA (Free Application for Federal Student Aid), which allows you to apply for federal aid. Along with cash payments, employer partnerships, military aid and scholarships, federal aid (in the form of loans, grants, and scholarships) is one of the many options students may use to finance their education.

Whether you need a quick refresher or this is your first time applying for federal aid, here's how to complete the FAFSA in four simple steps.

1. Get Your PIN

First, if you don’t already have one, you’ll need to apply for a Personal Identification Number (PIN). In the case of a forgotten or compromised number, request a replacement. It’s important to remember this number for future filing purposes. (Find out what to do if you forgot your PIN.)

2. Gather Relevant Documents

To fill out the FAFSA, you should have certain information on hand. FAFSA will ask about the following:

• Your identity (including your social security number)
• Your savings and earnings
• Your family
• Your educational plans and status
• Your tax return numbers
• Our Federal School Code (021799)

If you are a dependent, the above information will also be needed for your parents.

3. Complete Your FAFSA

You’ll need to complete the FAFSA every year you are in school. For the 2013-14 school year, you can apply at www.fafsa.ed.gov until June 30, 2014. The site offers a fast and easy way of entering your tax return information by using the secure IRS Data Retrieval Tool that imports information from the IRS database into your application. The website also offers live, online help and instant access to estimates of how much federal aid you may receive. For additional assistance, contact your Student Finance Counselor.

4. Determine Your Financial Plan

We typically receive your FAFSA information within a few weeks of you completing the online application. Once we review your information and determine your eligibility for aid, you will be informed of the grants, scholarships and loans for which you qualify. Your Student Finance Counselor will work closely with you to establish your financial plan, taking into account your federal aid as well as any other means you are using to finance your education.

For More Information

• Argosy University, Online Programs Financial Aid Programs
• Argosy Unversity, Online Programs Financial Aid Guide [.pdf]
• Learn More about the FAFSA: http://studentaid.ed.gov/fafsa
• Complete the FAFSA: http://www.fafsa.ed.gov/

As a student at Argosy University, Online Programs you may qualify for education-related tax credits that could increase your tax refund or decrease the amount of taxes you owe.

Below are some credits and deductions for you to keep you in mind as you file your taxes this year.

Tuition and Fees Deduction

As of 2013, students can deduct up to $4,000 in tuition and related expenses on their tax returns. You can't take this deduction if you take one of the tax credits below for educational expenses, so it's important to compare the benefits and decide which one to claim. In order to qualify, you must make less than $80,000 as a single taxpayer or $160,000 as a married couple.

American Opportunity Credit

The American Opportunity Credit allows students to claim up to $2,500 of qualified expenses for up to four consecutive years. To read in detail about this credit, check out our previous post from February. Briefly, here’s what you need to know:

• Qualified expenses include tuition, books, course materials and related fees.

• You must be in your first four years of college. You won't qualify if you've gone back to school for a second degree or you are in graduate school.

• If you are single, you must earn less than $80,000. If you file jointly with your spouse, you and your spouse cannot make more than $160,000 combined.

• Up to $1,000 of this credit is refundable, meaning that you can get this amount back at tax time if you don't owe any taxes.

Lifetime Learning Credit

If you don't qualify for the American Opportunity Credit, you may qualify for the Lifetime Learning Credit. This credit is available to anyone who is enrolled in a college-level course, regardless of how many years they've been in school or how long they've been studying.

This credit is similar to the American Opportunity Credit. You can claim up to $2,000 on tuition, books and related expenses. In order to qualify, you must make less than $60,000 as a single taxpayer. Married couples who file jointly may earn up to $120,000 together.

Student Loan Interest Deduction

If you are paying interest on any student loans, you can take a deduction of up to $2,500. All taxpayers who pay student loans qualify for this deduction, and you can take it even if you take other credits or deductions.

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If you receive a tax refund this year, consider using part of it to make a cash payment toward your education or a payment on your student loans, which will help reduce potential debt for when you graduate.

Reference: http://www.businessinsider.com/four-major-student-tax-breaks-2013-1

You want to go back to school, and online learning seems like the best fit for your lifestyle; It can certainly help you 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.