Tuesday, November 15, 2011

Money Saving Tips for College Students on a Budget


Tuition

  • Institutional grants: Grants are like loans that you don't have to pay back, and many colleges and universities offer institutional grants based on merit and need. Most schools just require students to fill out the Free Application for Federal Student Aid (FAFSA) in order to qualify, but check with your financial aid office to learn more about how these grants work at your institution.
  • Scholarships: There are three main types of scholarships - institutional, government and third-party (from a private company or organization). The first type you can find through your school, the second type through websites like Students.gov and the last type through scholarship searches and organizations related to your major or field.
  • Federal loans: Most students need to take out some loans to pay for college. Your best bet will always be to stick to federal loans - they have lower interest rates and better repayment terms, and many (such as Subsidized Stafford Loans) don't accumulate interest as long as you're enrolled.

Textbooks

  • Rent: Many companies are offering textbook rentals now, which allow you to use a book for a very low cost and return it at the end of the term. Look for rentals first, for both print and e-books.
  • Buy used: If you can't find the book you need to rent, check your college bookstore and websites likeHalf.com for low-cost used copies before purchasing new books.
  • Sell back: Keep your books as neat as possible and sell them back to your school bookstore at the end of the term. If your school won't take them, try a local bookstore - many stores in college towns will buy used textbooks. Read More....
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