Tips for Saving Money on College Education There are typically two main concerns for serious college students around the country—grades and money. Students everywhere need both but often lack the second until they can get through college and join the work force. For students who are working towards their business degree understand that money make the college cogs turn, but it does not take an accounting major to understand that saving money, as much as possible, through the college years is a smart life move. Because of this need to save money there are many students who try and devise different ways to save money, from smart shopping to thrifty living, but there are likewise other practical ways to save money through the college years that some may not have thought of.
FAFSA As a prime example, how many college students think to file taxes in order save money? Probably not that many, but the truth is that filing taxes is a required step before a student can apply for a FAFSA financial aid. It is often these simple tips and tricks that can end up saving a college student hundreds or even thousands of dollars throughout their collegiate career, but students should not forget the basics of saving money either. In order to escape college with limited or zero debt, it will take the combined effort by students to remember to employ both the traditional money saving tips that they probably already know as well as a few unconventional or round about ways to save money (such as filing taxes and filling out a FAFSA form).
Budgeting First and foremost, those college students who wish to save money during their school years need to remember and master the fundamental financial responsibility of budgeting their money. Budgeting one’s money to go toward needful expenses while limiting other expenses is a primary and critical skill for college students to learn in order to save more money immediately. Second, a college student can save money by reevaluating their living situation. With the understanding that better things are to come following graduation, it may be important to pass on the off campus apartment and stick with the inexpensive dorm room, or at least to find the best deal possible on an apartment even if it means moving (temporarily, remember) into a crummy apartment.
Financial Aid Next a college student can secure financial aid in any form they can get it. From apply for scholarships, to federal or state aid, or through the financial aid services of the school itself, there are multiple options available and taking a chunk out of tuition costs is one of the best ways to avoid incurring debt in college. One tip to saving money in college that few may have considered is to pass on the low paying (or even high paying) summer jobs and stick with school. Attending summer school while working part time may keep a student busy, but it is a great way to get through school faster, which saves money, and typically cheaper, as summer tuition is usually less than traditional semester’s tuition would be. Photo Credit: mushanga, iprole