Budgeting helps you manage your finances, plan for changes, prepare for the unexpected, and make sound financial decisions. Taking the time to create a budget helps keep your finances under control, show when you need to make adjustments to your spending, and helps you decide where your money goes instead of wondering where it all went.
Borrowing responsibly includes borrowing
- Only what you need to pay your education expenses
- Only what you can realistically afford to repay when you leave school.
When you take out a federal student loan, you may not be required to make payments on that loan while you are in school, but you are required to repay the loan—including fees and interest—when you graduate or stop attending school at least half-time.
Federal student loans are a great way help pay your education expenses and establish a solid financial future. However, i’s important that you borrow responsibly so you’ll be able to repay your loan.
- How much student loans can you afford to pay?
- This repayment calculator can help. Note: this calculator uses the standard repayment calculation; you may qualify for another repayment plan and should contact your Federal Loan Servicer for more information.
- FSA "Responsible Borrowing Video"
- FSA "Be a Responsible Borrower" publication
We know that paying for college can be hard to navigate, so we created a guide to help you through the process. The financial aid guide includes helpful resources and information about scholarship and grant opportunities, the benefits of self-pay, responsible borrowing and repayment. We also included several how-to guides to help you through the FAFSA or other documentation that you may need throughout your educational journey. The guide to financial aid starts here: Your Guide to Financial Aid.
Active students may receive an email from firstname.lastname@example.org with the subject "Your College Cost Meter is Available." This email is not a scam! It is a review of your student loan history and estimated future payments of your federal student loans received at Herzing University. Have questions about the College Cost Meter Student Debt Letter or managing all your educational debts? Our Alumni Support-Financial Services team is here to help! Follow the link for more information about Alumni Support-Financial Services: https://www.herzing.edu/resources/alumni-support-center
Understanding the basics of financial management (including loan management) is a vital skill for financial health and wellness. You can review your own Federal Student Aid debt and better understand your loans through the Loan Simulator available on the Department of Education’s website. You will need your FSA ID to log in and see your specific Federal Student Aid debt, but you may also complete the counseling session without logging in.
The S.M.A.R.T Change program is designed to equip students with helpful resources and education needed to build financial knowledge that can be used while at Herzing and beyond. For information about the S.M.A.R.T. Change program, please email email@example.com.