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.

Without a doubt, college education is one of the most expensive investments you can ever make. Fortunately, the costs do not have to be that prohibitive because there are measures you can take to reduce your college education expenditure. If you are thinking about going back to school, you can advantage of the American Opportunity Tax Credit (AOTC) to enjoy affordable education. First, however, you need to learn how this tax credit works.

What is the American Opportunity Tax Credit (AOTC)?
The AOTC is a refundable tax credit for undergraduate education. You can use this tax credit to decrease your federal tax bill by up to $2, 500 annually for each qualified learner. The credit is only available for the first four years of college education, meaning those who have finished four-year undergraduate degrees cannot claim it for their graduate studies. The tax credit was initially set to expire in 2012 but the recent fiscal tax deal extended it to 2017.

Who Qualifies?
As stated above, this tax credit is available for the first four years of college education. If you are studying in any post-secondary educational institutions, you are eligible as long as you are enrolled at least part time. Students of all accredited institutions, including online colleges, are eligible. The maximum credit is $2,500 per year for four years. Since you can claim it for multiple qualifying students (your dependents) you can save a lot of money this way.

You lose your eligibility for AOTC if you are single and you have an adjusted gross income (AGI) worth $80,000-$90,000 or you are married and your joint AGI falls between $160,000 and $180,000. If you did not join college after high school, here is your chance to enroll for college at an affordable price. The fact that accredited online institutions qualify means you can achieve your educational ambitions from your home, which will reduce the costs for you even further.

In short, you qualify if you:

• Are studying in an accredited post secondary institution
• Are in your first four years of college
• Are single with an AGI of $80,000-$90,000
• Are married with an AGI of $160,000 and $180,000

Which Expenses are Covered?

The American Opportunity Tax Credit only applies to qualified expenses, which are defined as the expenses that you must meet to enroll or attend your college. These include:

• Tuition
• Books
• Course equipment

Going by this argument, course materials are covered (since you need them to attend your course) but sports fees (for those who are taking non-sport related courses) are not covered. Other things that are not covered include:

• Room and board
• Insurance
• Activity
• Transportation

There are things that reduce your qualified expenses and they include:

• Scholarships
• Grants
• Fellowships
• Educational assistance from employers
• Educational assistance for veterans
• Other tax-free benefits

Examples of things that do not decrease your qualified expenses include:

• Inheritances
• Gifts
• Bequests

Want to learn more about ways you can fund your education at Argosy University? Contact us to learn more today at 1-866-4ARGOSY!

Sources
http://www.forbes.com/sites/troyonink/2013/01/16/american-opportunity-tax-credit-pay-for-college-and-pay-less-tax/2/
http://www.fastweb.com/financial-aid/articles/3804-congress-passes-fiscal-cliff-legislation-extending-american-opportunity-tax-creditb
http://www.cpataxmag.net/welch-stories/43-juliewelch-columns/760-10-ways-the-american-opportunity-tax-credit-reduces-college-cost
http://www.foxbusiness.com/personal-finance/2013/01/03/how-students-and-families-can-best-use-american-opportunity-tax-credit/

Argosy University – in conjunction with The Education Foundation – recently announced its 2012 Patricia K. Goeser Memorial Scholarship!

The Patricia K. Goeser Memorial Scholarship will provide $250 to two awardees. The scholarship fund was created by Goeser’s daughter, Caroline Dahlquist, in memoriam of her mother whom had raised Dahlquist and her three sisters on her own while working and attending the University of Tennessee.

"It is my belief that my three sisters and I would not be as successful as we are if she had not (gone back to school)," Dahlquist says. "Her first day at the University of Tennessee was my first day of Kindergarten. I want to be able to - in some small way - help others to get themselves moving towards an education that will eventually change future generations."

The scholarship will be awarded based upon the following criteria:

• Applicants must be an online student in an active or re-entry status with out of pocket expense either from previous enrollment or other circumstances
• Applicant must be a single parent with dependent children pursuing an undergraduate degree with Argosy University.
• Applicants must have completed at least 16 credits and have a minimum cumulative GPA of 2.5.
• Applicants must complete an essay that answers the following questions:
• What do you hope your children learn from your pursuit of a college education?
• How will your education benefit yourself, your family?

Download the application here!

Applications can be sent to AUOPatriciaKGoeserScholarship@argosy.edu

See AUPrograms.info for program duration, tuition, fees, and other costs, median debt, federal salary data, alumni success, and other important info.

Welcome to part 6 of our series on Responsible Borrowing for your education. Today, we’re looking at more ways to save on your education.

How else can you save for your education- think about it! The possibilities are endless and you are in control!

Complete your degree in a timely manner

• The longer to complete your degree, the more cost you will incur. Successful completion of your classes is important. Every time you fail a course, you will need to pay additional to re-take it.
• Set a goal to complete your degree with your academic counselor.
• Use your timeline to stay on track and complete on time.

Have good study skills

• Don’t let social and financial commitments divert you from your degree goals.
• Speak to your academic advisor or instructor about coping with stresses of going to college.

There is a direct correlation between student borrowing and success, so this is as important as the lessons you learn in the classroom. Students that find alternate means for funding their education tend to graduate sooner; they place themselves in better positions for other “lifestyle” loans; and in the end, they graduate with less student debt.

So, as you embark on your educational venture, take the time to discuss your options with your Admissions Representative and your Finance Counselor, but do not stop there. Ask your employer, your friends and family; search the web and apply for all grants and scholarships.

Though this can be time consuming, every effort you make will be paid back in large dividends! That monthly payment towards your education, the hours you spend applying for grants and scholarships and the extra time you take to complete each class with the best grade is your investment in you!

We hope that our series on Responsible Borrowing has been helpful and informative. Congratulations on your decision to make a brighter future for yourself and good luck!

Welcome to part 5 of our series on Responsible Borrowing for your education. Today, we’re looking at ways to take control of your future.

When we last left off, we were discussing how to how you can maximize the benefit of an education while minimizing your long term debt. Here are some more tips:

Borrow only what you need

Do not borrow more than you need and always look at student loans as your last resort for funding.

• Can you cover some expenses with a part-time job?
• Have you researched and applied for grants and scholarships?
• Do not take stipends, as these are usually generated by loan monies that must be paid back.

Reduce School Costs

• Cut down expenses while you are in school. Remember you are investing in your future, so to skip that once a week movie or that daily cup of coffee at Starbucks is well worth it when you consider the impact it will have on your future.
• Little things like cooking meals at home versus eating out, carpooling or using public transportation can cut your monthly household expenses and give you the means to insure that you can make a comfortable monthly contribution to your education.
• If you have to buy books, get creative! Though most of your books are available in your classroom, there may come a time when you have to buy a book. New textbooks can be hundreds of dollars each, so finding used books, renting or sharing books is a great way to put money back in your pocket.