The transition from high school student to college student is one of the most stressful and important times in a teenagers life. The college years are a time where a student leaves their high school teachers and friends behind, and embarks on a journey that will give them a head start on their adult years. Years that will form new relationships, start new careers and completely change their lives. In addition to the challenges of being away from home, taking on a tougher course load and learning how to be self-directed, they will also start to learn how to budget money properly.
Money is a key issue for college aged students, or should we say a lack of money. Students in colleges and universities are faced with a full-time course load as well as needing time for studying, school based activities and working on class projects. This does not leave much opportunity to earn money through part-time jobs. Because of the limited amount of time that students have to earn money, it is important to plan ahead.
Before embarking on your college education, it is important to plan for these years. Having a few dollars available to spend on a pizza or at the school store is always advisable. So, in the years prior to starting college, teens should try to earn money and save some of that money for their time in college. Finding work can be difficult, however it is not impossible to find a job where you can work over the summer and even a few hours after school and on weekends.
Another crucial part of your new school experience is properly budgeting your money. Take time to sit down and access your regular expenses and create a budget for your college years. By properly managing your money and sticking to your created budget, you should be able to have money available while in school.
Saving for College
- Saving for College – Helpful page for parents to be used as a guide to help save for college.
- College Savings Center – Useful portal of information covering a variety of topics on college savings.
- College Savings – Information and resources for parents and students on how to save for college.
- Tips for Saving Money – Tips on how students can save money in college.
- Ways to Save in College – Article which provides information for students on saving in college.
- Money Tips for Students – Information for college students on how they can save and manage money in college.
Jobs and Making Money
- Jobs for Students – Information and suggestions on jobs that are good for college students.
- Jobs for College Students – Helpful article with information on ten great jobs for college aged students.
- Summer Jobs for Teenagers – Useful article which suggests ideas on jobs that teens can get during the summer.
- Ways to Find Jobs – Article which suggests ways for college students to find summer jobs.
- Internships – Information on how students can get either internships or summer jobs.
- Budgeting Basics – Useful page for teens with information on how to budget properly.
- Teen Budget Worksheet – Printable worksheet that can help teens learn how to budget their money.
- How to Make a Budget – Helpful page for college students which introduces them to the concept of budgeting.
- College Student Budget – Resourceful page with information and links to help learn about budgets.
- Student Budget Calculator – Informative web page which can lead students to the steps to budget money.
- Budget Mistakes – Article from Fox Business with a listing of six common mistakes that college students make in not following a budget.
- Money Saving Tips for Students – Great guide with many tips on how to save money for students
Managing Your Money
- Student Money Needs – Useful article which discusses fees and interest for college students.
- Wasting Money – Page which provides ten common things that college students waste money on.
- Money Management for Students – Web site which contains useful information about money management.
- Money Management Mistakes – Page which provides information on the most commonly made money mistakes by students.
- Money Management Tips – Tips and suggestions for college students on how to properly manage their money.
- Tips for Students – Article for college students providing a number of helpful tips to manage money.
- Resource On Dealing With Debt – Learn how to properly deal with any debt that you may accumulate
Helpful Resources and Tools
- Money Saving Resources – Money article with seven resources that college students can use to save money.
- College Student Spending – Useful infographic which outlines the typical college student’s spending habits.
- Parent and Student Resources – Collection of forty resources pertaining to money for parents and students.
- College Student Finances – Informative page with financial information for college students.
- Money Management Tips – Helpful article with tips and suggestions that college students can use.
- Money Saving Tips – Suggestions and helpful tips for the college student with ideas on how to save money.
Compare the Best Student Loan Refinance Rates
Here are our top student loan refinance picks for 2019
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Student Debt Relief Loan Refinancing Advertiser Disclosure
College Ave: College Ave Student Loans products are made available through either Firstrust Bank, member FDIC or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
College Ave Refi Education loans are not currently available to residents of Maine.
1 – The 0.25% auto-pay interest rate reduction applies as long as the borrower or cosigner, if applicable, enrolls in auto-pay and authorizes our loan servicer to automatically deduct your monthly payments from a valid bank account via Automated Clearing House (“ACH”). The rate reduction applies for as long as the monthly payment amount is successfully deducted from the designated bank account and is suspended during periods of forbearance and certain deferments. Variable rates may increase after consummation.
2 – $5,000 is the minimum requirement to refinance. The maximum loan amount is $300,000 for those with medical, dental, pharmacy or veterinary doctorate degrees, and $150,000 for all other undergraduate or graduate degrees. Information advertised valid as of 04/26/2019. Variable interest rates may increase after consummation.
3 – This informational repayment example uses typical loan terms for a refi borrower with a Full Principal & Interest Repayment and a 10-year repayment term, has a $40,000 loan and a 5.5% Annual Percentage Rate (“APR”): 120 monthly payments of $434.11 while in the repayment period, for a total amount of payments of $52,092.61. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.
ELFI: Subject to credit approval. Terms and conditions apply. To qualify for refinancing or student loans consolidation through ELFI, you must have at least $15,000 in student loan debt and must have earned a bachelor’s degree or higher from an approved post-secondary institution.
LendKey: Refinancing via LendKey.com is only available for applicants with qualified private education loans from an eligible institution. Loans that were used for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not eligible for refinancing with a lender via LendKey.com. If you currently have any of these exam preparation loans, you should not include them in an application to refinance your student loans on this website. Applicants must be either U.S. citizens or Permanent Residents in an eligible state to qualify for a loan. Certain membership requirements (including the opening of a share account and any applicable association fees in connection with membership) may apply in the event that an applicant wishes to accept a loan offer from a credit union lender. Lenders participating on LendKey.com reserve the right to modify or discontinue the products, terms, and benefits offered on this website at any time without notice. LendKey Technologies, Inc. is not affiliated with, nor does it endorse, any educational institution.
CommonBond: Offered terms are subject to change. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900). If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, the loan term selected and will be within the ranges of rates shown. All Annual Percentage Rates (APRs) displayed assume borrowers enroll in auto pay and account for the 0.25% reduction in interest rate.
Splash Financial: Terms and Conditions apply. Splash reserves the right to modify or discontinue products and benefits at any time without notice. Rates and terms are also subject to change at any time without notice. Offers are subject to credit approval.com
Earnest: To qualify, you must be a U.S. citizen or possess a 10-year (non-conditional) Permanent Resident Card, reside in a state Earnest lends in, and satisfy our minimum eligibility criteria. You may find more information on loan eligibility here: https://www.earnest.com/eligibility. Not all applicants will be approved for a loan, and not all applicants qualify for the lowest rate. Approval and interest rate depend on the review of a complete application.
Earnest’s fixed-rate loan rates range from 3.89% APR (with autopay) to 7.89% APR (with autopay). Variable rate loan rates range from 2.50% APR (with autopay) to 7.27% APR (with autopay). For variable rate loans, although the interest rate will vary after you are approved, the interest rate will never exceed 8.95% for loan terms of 10 years or less. For loan terms of 10 to 15 years, the interest rate will never exceed 9.95%. For loan terms over 15 years, the interest rate will never exceed 11.95% (the maximum rates for these loans). Earnest variable interest rate loans are based on a publicly available index, the one month London Interbank Offered Rate (LIBOR). Your rate will be calculated each month by adding a margin between 0.26% and 5.03% to the one month LIBOR. The rate will not increase more than once per month. Earnest rate ranges are current as of April 23, 2019 and are subject to change based on market conditions and borrower eligibility.
Auto Pay Discount: If you make monthly principal and interest payments by an automatic, monthly deduction from a savings or checking account, your rate will be reduced by one quarter of one percent (0.25%) for so long as you continue to make automatic, electronic monthly payments. This benefit is suspended during periods of deferment and forbearance.
The information provided on this page is updated as of 04/23/19. Earnest reserves the right to change, pause, or terminate product offerings at any time without notice.
Earnest loans are originated by Earnest Operations LLC. California Finance Lender License 6054788. NMLS # 1204917. Earnest Operations LLC is located at 303 2nd Street, Suite 401N, San Francisco, CA 94107. Terms and Conditions apply. Visit https://www.earnest.com/terms-of-service, e-mail us at email@example.com, or call 888-601-2801 for more information on our student loan refinance product.