How Smart Students Save Money On College

Going to college is a wonderful learning opportunity for students. From in-class lectures to distance learning courses, there are many ways to go about completing studies during this time period of your life. It’s equally as important to remember that learning also takes place out of the classroom. Keeping this in mind, students must teach themselves how to be smart with money while in college.

How Smart Students Save Money On College

Going to college is expensive in itself, so doing everything you can to keep the budget in check will be extremely valuable.

Don't Buy New Textbooks

Don’t Buy New Textbooks

Shop in Advance

There is no reason to wait until the last minute to start preparing for college. There are basic supplies that will be needed no matter the field of study that a student chooses to enter into. From pencils, pens, computers, shower essentials and more, it is best to begin buying these items a year or two in advance. In doing so, the budget won’t seem so strained once the college years actually roll around. Additional items to shop for in advance include the following:

  • Microwave
  • Desk lamp
  • Bedding
  • Mini fridge
  • Towels
  • Clock radio

Watch for Sales

Both before and during college, it is smart to look for sales on school supplies, dorm essentials and more. By taking advantage of such sales, students will be sure to save hundreds of dollars, or even thousands, on their schooling necessities. A great time to catch sales is during tax season. Many retailers offer extremely valuable deals during this time of year because they know people have money for large purchases such as computers, laptops, printers, tablets and more.

Use Hand-Me-Downs

There is no shame in using a hand-me-down. Many times, students can find hand-me-downs free of charge. If not, they tend to be much less expensive than going out and buying completely new products. Great hand-me-downs to take advantage of include bed frames, dishes, transit passes, computer desks and more. If you don’t know someone ready to pass on an item you’re looking for, check local thrift shops or online resources such as Freecycle or Craig’s List. After the college years are over, it is important to continue the hand-me-down tradition.

Don’t Buy New Textbooks

One of the things that can break the bank are new textbooks. With some textbooks costing more than R2.717,37 ($300,) it only makes sense that students should purchase used books. Some online sites and book stores will even allow students to rent textbooks. In doing so, a student can save thousands of dollars every school year.

Buy a Car

While it may not seem very smart to make a large purchase while in college, especially when it comes to saving money, there is a great reason behind choosing to purchase a car. Of course, this tip should only be followed if needing a car is a necessity. If a student already has a working vehicle, it is best to save the funds. Now, on to purchasing a car. If a student has excess money left over from federal student loans, this is the money that should be used to purchase a car. Why? Because the funds don’t have to be paid back until a student graduates or drops below half-time enrollment status. Better yet, federal student loans are accompanied with a low interest rate. In fact, their interest rates tend to be less than those offered through traditional car loans.

When you’re planning to go to college, it’s important to consider more than just tuition and housing. Utilizing money saving tips before you even get to college will help you make the most of your budget and get you started on the right financial track.

College guidance counselor Sally Peterson enjoys helping students make the most of their college education. She feels that getting off on the right foot in college is very important and students should be utilizing all the resources available, such as College Degree Search.

License: Creative Commons image source

Author: SmartStudent

SmartStudent is an educational portal that provides information & advice to aspiring students. regarding applying to university, choosing a course, what to take to university, finding student accommodation and much more.

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