October 6, 2022

scienceofedu

science of education

Transparency Around College Costs and Multiple Paths for Payment at University of Phoenix

4 min read

Photo by NeONBRAND on Unsplash

One of the most important components of the college selection process is gaining a full understanding of what the degree program will cost and how those costs will be covered. Uncertainty around how to pay for college can keep many students from pursuing their higher education goals and related career aspirations. University of Phoenix is committed to making higher education affordable and accessible and providing students from all backgrounds with the resources they need to support their educational journeys. 

For the past decade, the University has worked with iGrad, which provides online financial literacy via classes and personal money management tools including budgeting, investing and student loan information. The program is tailored to each university’s particular needs. “Frequently updated content, commitment to making it the best platform out there, and openness to feedback and ideas” are all highlights of the iGrad approach, said Chris Conway, Director, Financial Education Initiatives at University of Phoenix. “What was very important to us was the flexibility of iGrad; it allows us to use the site in ways no other product did. “

iGrad lessons have been incorporated into specific introductory courses that can benefit University of Phoenix students and form part of their core curriculum. This includes courses on creating a financial plan, borrowing responsibly, minimizing student loans, understanding loan repayment options and navigating the National Student Loan Data System.

Consumer Information Guide and College Scorecard at University of Phoenix

University of Phoenix now also offers a tool from the Consumer Financial Protection Bureau (CFPB) known as the Consumer Information Guide (CIG) for students who are beginning the college application process. The guide walks prospective students through the University’s requirements related to financial aid and federal compliance and remains available to them throughout their college experience via their student web account and on the University’s website.

The CIG provides a thorough overview of University of Phoenix’s accreditation as well as data about student demographics and borrowing, the federal aid application process, grant programs and scholarships, loans, financial aid options, military benefits, aid for transfer students and other related topics.

University of Phoenix also connects prospective students to federal data about its demographics and programs via the U.S. Department of Education’s College Scorecard. The Scorecard uses charts and infographics to show basic facts and figures about the University including graduation rate, average salary of graduating students, average annual cost, graduation and retention, and financial aid and debt. For example, the scorecard revealed that 78 percent of University students receive federal loans to help cover their college costs. The Scorecard also showed that the most popular degree program at University of Phoenix is the Bachelor in Business Administration, Management Operations.

Prior Learning Assessments and Scholarships Reduce Costs For Students at University of Phoenix

Through a program that provides college credit for Prior Learning Assessments (PLAs), some 65 percent of University of Phoenix students are eligible for credits for skills developed in other professional or life roles, providing another means for students to save on tuition costs. Eligible assessments include IT certificates, military service, police academy training and real estate licenses. Students who have gained key skills like stress management, parenting and communicating in a virtual workplace through life experiences are also eligible for PLA credits and can submit them for review via journal essays. 

Students who are transferring to University of Phoenix to pursue a bachelor’s degree program can apply for a $3,000 Transfer Student Scholarship, and the University has maximized credit transfers from other schools including community colleges to further reduce the time and costs of completing a degree program. All of this is part of the University’s expanded $1M monthly scholarship commitment so that every qualifying new student is eligible for up to $3,000 beginning with their first course.

Call Monitoring System Is Designed to Serve Students

Through a state-of-the-art call monitoring system, University of Phoenix is able to field and analyze numerous calls each month. Drawing data through keywords and phrases, call monitoring is able to provide a means for fast responses to time-sensitive issues that arise. University of Phoenix’s call monitoring system strives to set a high standard for accurate identification and response to important questions that may arise from prospective students, current students and alumni.

About University of Phoenix

University of Phoenix is committed to advancing the educational goals of adult and nontraditional learners and provides maximum support for students to achieve their goals more affordably. The University provides options that working adults need including numerous scholarship opportunities, flexible schedules, online learning and career-guided degree programs. In addition, the Career Services for Life® commitment to active students and graduates can help them more effectively pursue career and personal aspirations while balancing their busy lives. For more information, visit www.phoenix.edu

Copyright © All rights reserved. | Newsphere by AF themes.