How to Save Money during College
How to Save Money during College
Kaylynn Clark
According to National Financial Aid Services, seven in 10 college seniors (71%) who graduated last year had student loan debt, with an average of $29,400 per borrower. To many, this number is daunting, and not an amount they would like to have looming over their heads after graduation. First, there is something you are already doing right, if you are attending a Junior College, as you are already saving thousands in tuition costs! There are many ways to save a few extra dollars, but I have compiled the top 5 money savers for you to consider throughout your college journey.
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Everyone wants to live on their own or in dorm rooms during their college years to feel freedom for the first time, but studies show that this can add thousands in college debt. In truth, can potentially save over 12,000 dollars a year on living costs alone, if you stay home. To many this is not a possibility, but if you have a local junior college or state university within a few miles from home, it should be considered.
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Reduce costs of school supplies and shop around. Many are quick to purchase books directly from their school’s book store, but prices are not necessarily wallet friendly or the cheapest you can find. First, shop sites such as amazon.com for those otherwise pricey hardcover books for rent, and compare to your books store. As well, go to your first class meeting without purchasing and see what the professor will use throughout the semester, and what books will not even be opened.
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Work part-time to help cover costs. Many parents are not able to support their children by covering their college costs. In fact, students that aren’t paying for their schooling is a rarity. Instead of feeling overwhelmed by taking out a student loan, you can try to get a part-time job. In fact, part-time jobs, such as serving, making coffee, or tutoring can really provide some financial relief.
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Make time to study. I know the hardest one to apply, but also one of the most cost effective. If you are not confidant in yourself in a class that you don’t think you will pass, it is probably because you aren’t studying. I know, I know, it’s so much easier to blame the professors, and retake the class. But, you just now doubled the cost of that particular class by having to retake. Try to pass the first time, and save tons.
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Know your major before you transfer to a university. If you plan on changing your major, do so at a junior college level before you transfer and have to pay tuition! Seek advice from your counselor, and make choices that count to your dream career!