South University Blog, a foundation in tradition. Education for modern times.

The South Way

A foundation in tradition.
Education for modern times.

Request info# Request info# Chat Live

South University Blog

Filter By:

  • Location
  • Area Of Study
  • responsible borrowing

Introducing iGrad for All Your Financial Literacy Needs

by South University, Online Programs
April 24, 2014

At South University, we understand that attending college is a significant investment in your future. That’s why we’re so excited to introduce iGrad, your personalized site for important financial literacy information, available anytime you need it!

iGradIn just 30 seconds, you can create a profile and start seeing content customized to fit your needs. Utilize iGrad's full library of resources including short video presentations, webinars, educational games, calculators, a job and internship search tool, and current, relevant articles on a wide array of financial topics.

Using these resources, you can learn valuable tips and lessons for understanding financial aid and managing your finances wisely as you work your way toward completing degree. Some of the topics covered include:

• Financial aid processes and awards
• Paying for college
• Time management
• Credit management
• Preparing for life after college
• Personal finance tips for undergraduate and graduate students

You can access these resources at any time, and be sure to stop by regularly for new information as it becomes available. Check out iGrad today!

South University is not responsible for the content or accuracy of any web site linked to this site. The links are provided for your information and convenience only. South University does not endorse, support or sponsor the content of any linked Web sites. If you access or use any third party Web sites linked to South University Web site, you do so at your own risk.South University makes no representation or warranty that any other Web site is free from viruses, worms or other software that may have a destructive nature.

by South University, Online Programs
April 24, 2014
READ MORE  
  • Tags:

Make Understanding Financial Aid a Priority This Year

by South University
January 6, 2014

You know being informed about your student loans is important, but sometimes it all feels a bit overwhelming. South University is here to help, so that in 2014, you can make sure you're knowledgeable about your student loans and financial aid. With our new financial aid video series, you can find the information you need all in one place and gain a better understanding of your investment in a degree!

Financial Aid tvNow, when you log in to the Campus Common, you’ll notice a new story in the Top News banner called “What I Need to Know about My Student Loans.” This story is part of our Financial Aid TV series, which features over 100 helpful and informative videos.

Video categories include Applying for Financial Aid, Financial Literacy (which ranges from money management to understanding credit reports), Financial Literacy Month, General Information, Loans, Other Support, Tax Credits, The FAFSA, and Veteran Benefits.

Visit our Financial Aid TV page and get your questions answered today! If you have additional questions, don't hesitate to contact your Student Finance Counselor.

Related Link: http://online.southuniversity.edu/tuition-financial-aid/

Related Post: What You Need to Know about Loan Limits

by South University
January 6, 2014
READ MORE  
  • Tags:

What You Need to Know About Loan Limits

by South University
May 23, 2013

If you use a credit card, you are probably familiar with credit limits. When you reach your credit card limit (commonly called maxing out your card), you must pay down your principle before you put anything else on the card. Many people don’t realize that federal student loans also have limits, and, unless students are aware of these limits and practice responsible borrowing, there's the possibility that you could max out your student loans.

Piggy bank

When students rely too heavily on federal loans, they may reach their loan limits, leaving them unable to afford their education and stuck with unmanageable amounts of debt. Read on to learn about loan limits and how to avoid them through responsible borrowing.

Annual and Total Loan Limits

The federal government limits the total amount of subsidized and unsubsidized loans a student can borrow at one time – this is known as a total or aggregate loan limit. If you previously attended college and took out federal loans that you have not yet repaid, those loans will count toward your total loan limit. To check your prior federal student aid history and previous loans, visit the National Student Loan Data System at www.nslds.ed.gov.

There is also an annual loan limit on the amount of loans you can borrow in one academic year. Total and annual loan limits depend on your year in school and whether you are dependent or independent student. You can see the annual and total loan limits that apply to you at http://studentaid.ed.gov/types/loans/subsidized-unsubsidized#how-much-can-i-borrow. If you're a current student, you can also contact your Student Finance Counselor to learn more.

How to Avoid These Limits

When you discuss your financial aid package with your Student Finance Counselor, make sure you understand your loan limits and try not to rely solely on federal loans. Here are just a few tips that can help you avoid reaching these limits.

• Find alternative ways to finance your education, such as scholarships and grants. There are many scholarships and grants out there, so don’t be afraid to apply. They can make a big difference in your financial plan!

• If you are currently employed and your desired degree relates to your job, ask your employer if they are willing to help sponsor your education.

• By making regular cash payments, even as small as $20 per month, you can reduce the amount you need to borrow and the interest you’ll pay in the future.

• Remember, you do not have to take the full amount of federal aid for which you are eligible. Only accept the aid that you truly need and do not use the loans for expenses outside of your education.

• Stay committed to completing your education in a timely manner. Having to re-take a class will end up costing you extra.

When you create a plan for paying for your degree, think about your long-term financial future. Remember, having to make large monthly payments on your student loan debt will limit what you can spend in the future on large purchases, such as your house or your car, and even daily expenses. Making the right choices today will help you tomorrow.

Related Post:  4 Ways to Finance Your Education Outside Federal Aid

by South University
May 23, 2013
READ MORE  
  • Tags:

4 Ways to Finance Your Education Outside Federal Aid

by South University
May 8, 2013

It's no secret that education is a big investment, which is why we provide each of our students with a Student Finance Counselor and encourage students to explore a variety of avenues to create a financial plan and find responsible ways to finance their education.

Financial Decisions image

What do we mean by responsible? Responsible borrowing entails detailed planning and analysis of your finances and exploring all available payment 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 the alternative options that we recommend you consider before you turn solely to federal loans.

1. 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.

2. 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.southuniversity.edu/military/#, or call 1-888-313-7209 to speak with a Military Admissions Representative for more information on these programs.

3. 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 often also 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.

4. 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.

by South University
May 8, 2013
READ MORE  
  • Tags:

Your Guide to Responsible Borrowing: Part Six

by South University
January 9, 2012

Welcome to part 6 of Your Guide to Responsible Borrowing. 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!

by South University
January 9, 2012
READ MORE  
  • Tags: