Some people think that going to college isn’t going to be expensive. Think again, college is one of the most expensive things you’ll do in your life. In fact, Discover Student Loans did a recent survey and found out that 48% of parents expect their student to pay for all or most of their college education. If you have a high school senior heading to college soon, you need to check out these financial tips.
Understand the true cost of an education
Okay, so everyone knows that the actual education cost something. That is usually a no brainer. Things that students don’t think of like textbooks, lab fees, travel costs, even that extra cup of coffee REALLY add up!
Find the FREE first
One thing I want students to understand about student loans is that they’re not free. Which is why I recommend getting anything and everything free that you can when it comes to college. Utilize those grants, scholarships, and anything else you can get your hands on! You should even look into work study to help you pay down some of the college fees that you may incur.
Know your student loan options
When it comes to student loans, don’t just take out the first loan you come across. There are MANY things to consider when taking out a student loan. This is a very big financial tip for those entering college as a freshman. It’s vital to know the difference between a federal loan and a private student loan.
Manage your money once you go off to college
Being a freshman in college is a lot of change, but you should still keep up with your finances. All of those small financial moves add up to be big ones. For example, using your student ID to take advantage of discounts, using coupon codes online, and even shopping at discount stores can help you save a ton of money. Another way you can save money is by renting textbooks! Times have changed and it’s amazing how much you can save by renting or even using digital textbooks.