Six Money Saving Tips for College Students

When you're in college, it's smart to save money. Here are six tips to help students spend less.

Six Money Saving Tips for College Students

We all know how expensive college is for today’s students. You may be working your way through school, have student loans or financial aid, or your parents may be footing the bill. Regardless, many students need to find ways to save money while attending college so you don’t add more to your overall total that you may be financing. Here are the top six ways for college students to save the most amount of money while in class.

1. Keep Applying for Grants and Scholarships

Throughout your college career, it’s smart to continue to apply for financial aid. There are many scholarships and grants available to students through local businesses and organizations. Search for options within your state, like these Ohio scholarships or these college grants in Michigan.

2. Get a Student Checking and Savings Account

You will need a bank account while you are in college, and should take advantage of the benefits of a student checking account while you are in school. Most student checking and savings account offer more perks and fewer requirements than the typical bank accounts. At First Federal Bank, our Student Banking account offers Scorecard® Rewards with your debit card, no minimum balance requirements or monthly fees, fee-free ATMs, and a great mobile banking app that gives you the ability to bank whenever, wherever. Plus, you can easily apply for Student Banking online.

3. Find & Use Student Discounts

Another great benefit to being a student is that there are many student discounts available on almost everything. Websites like studentrate.com can help you find deals on just about everything. You can also find free entertainment on or near campus and take advantage of any discounts that local businesses offer to college students. For example, Apple’s education discount or Microsoft’s student offers. Taking off for spring break? Check out Amtrak’s discounts.

4. Save Money on Textbooks

The national average cost of textbooks and supplies is about $1,100 per year. Buying, renting and selling textbooks online is another way to save a good chunk of change. There are many websites that offer this service, like this one or this one . You should also check with your local bookstores for any similar programs, or see if you can buy, sell or rent your books to your friends on your own, and forgo the middle man or woman.

5. Get a Summer Job or Side Hustle

Another way to save money while in college is to get a part-time job, either during your breaks or around your class schedule. This will not only help you earn money, but help you from spending more money because you are working. You’ll also gain character by seeing how hard it is to make money, which will help you during those impulse spending moments. You can start by looking on campus for part-time work, or find odd jobs by using websites like Task Rabbit or find jobs in your desired field of study at sites like Flex Jobs.

6. Earn Credits at Community College

If you can take some classes at a community college in Ohio, Michigan or Indiana, you can save even more money off your college degree. Some students opt to take classes during summer or winter breaks, and others complete the first two years at a community college, and then later transfer into their four-year university.

First, you’ll want to see what courses are offered in your area and make sure that you can transfer those credits into your bachelor’s degree. Here are some websites to help you search for community colleges in your state:

You don’t have to be an economics major to learn how to save money during college. With a little bit of preparation, you can save more money while class is in session to save up for your next big adventure in life.

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