College is not easy. You have to attend classes and do homework and projects and extra work and you’ll probably stay up all night to study for finals. But how are you going to do that and handle your finances? Adults are not handling a general loan easily, so how are you?
You probably have a limited amount of money to spend and you need to make sure you take care of everything – from food to rent. So how are you going to save money and still enjoy your college life?
Make sure you have the right loan
When you’re a student, your loan has to be affordable, because we all know what it’s like to be a student. So, if the deal is for 10 years, you might want to change that and think of another repayment option that will not let you in debt your whole life. Choose one for a monthly pay – it’s less money.
Just make sure you think very clearly about this because it’s a good deal to extend your payment in more months and reduce your student loan payments. It’s probably best to choose one when the graduation is near – you’ll have a better view of the future.
Borrow or buy used textbooks
It’s not enough that you have to pay for your years in college, you’ll also have to pay for your textbooks. It’s not fair, we know. And new textbooks are very expensive. So, choose to borrow them from older students or simply find out if they are selling them. It’s the best deal when it comes to textbooks.
Also, look for them in libraries. They may be expensive in a place (like your college library), but another place might have them at a lower price. Also, keep in mind that there are community groups which are more than happy to help you finding and borrowing textbooks.
You should limit your credit card usage
Credit card organizations capitalize the budget limits of students. And they do this by sending pre-approved applications for lines of credit. You have no idea how this impacts a student.
The U.S government decided that this was not a good idea, and Barack Obama, the former president of the US signed the Credit CARD Act of 2009. This meant that the extension of the credit plan can be done with a fair practice.
With this in the game, the usage of the credit card has decreased in a significant matter.
Make the most out of student discounts
Make sure you have your student ID with you at any time, because it’s more useful than you think. It may give you discounts at stores, restaurants, to the movies, museum, even sports arenas.
It also helps you when it comes to online retailers. Amazon, for example, gives you a six-month subscription to Amazon Prime, which is totally free.
Way to get an easy way when it comes to paying rent
Have you ever thought about taking residence in your college dorm room? We get how that sounds, but you’ll get to have people who want the same things as you do near you. It will also take less time to get to classes.
If you’re not the one with the campus life, look for a roommate and make an agreement: to both pay for an apartment which is not on the campus. It helps even more if you’re living with someone who studies the same things you do.