4 tips to help college freshmen & parents save money
If Amazon doesn't have a Whole Foods grocery near you, there are non-perishable groceries ( food that doesn't spoil) that Amazon can ship to you
WASHINGTON D.C., DC — Students are headed off to college for the first time but aside from picking out your bed linens and mini-fridges, there are many other important parts of the transition that need to be completed before this new chapter begins.
Jessica Brown is the founder of CollegeGurl.com and the author of “How to Pay for College When You’re Broke”.
She has some great advice on ways to make a smooth transition as a college freshman and to help you save money along the way.
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Watch: How students can save money during college
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1) Review your student account
Financial Aid: Ensure all documents have been received by the Office of Financial Aid and aid has been processed. Also make sure all your scholarships, internal and external, have been received and documented.
Meal Plan: Review your meal plan options to ensure you are meeting the dorm minimum, but not paying for more than you need. You can always change your plan, but not till the Spring semester.
The Family Educational Rights and Privacy Act (FERPA):
Attention parents! Make sure you fill out the FERPA form in order to have access to your child’s academic profile. You cannot call Financial Aid and ask about your child’s situation if your child does not sign-off to give you access.
2) Scholarships
Over 100 million dollars in scholarships go unclaimed annually. It is imperative for students to research scholarships throughout your educational journey. Things change, you may have to take summer classes, or you may want a refund! Make sure to continually research financial aid opportunities.
3) Connect immediately with a Counselor / Advisor
Ensure students understand their curriculum, courses, and expectations. You don’t want to sign-up for and take classes you don’t need. Additionally, understand how many credits impact your financial aid.
4) Campus Banking
Opening a bank account that partners with the institution to avoid fees. (Campus Checking Account)
Anything Else?
Shopping: Remember to always carry your student ID card. Most stores will give a 10 % discount if the student uses their school id.
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If Amazon doesn't have a Whole Foods grocery near you, there are non-perishable groceries ( food that doesn't spoil) that Amazon can ship to you
Save money on books, school supplies and everything you want to enjoy college! Financial aid, back in the olden days meant grants, scholarships, work study jobs. Loans were part of the package, but since they are available, ‘common thought’ was it is not financial aid – it was however a low interest loan. If you’re dependent on your parents, and they are below a certain income, most colleges give you much monies to help you attend their school. The middle class student with 2 working parents pays much more for their child to attend school and that student often can’t get work study job on campus. Those jobs are limited to the kids with financial aid.
If you can, or your parents can, to lower your loan debt when you leave school, if you have any monies, try to pay at least the interest while you are in school. Many loans start adding interest the day they are used to pay for school. So a $10,000 loan becomes a $12,000 amount when you leave school (example each loan is different) If you pay the interest (example $25 per month) then the $10,000 loan is only $10,000 when you leave school.