The term “starving student” isn’t around for nothing. College is expensive, and most students try to get by on small student loans and a few scholarships. The result is a small cash flow problem. There are several things students can do to save money during school years, though:
– Apply for scholarships. Apply for all forms of financial aid you qualify for. The less you need to borrow, the more manageable your student loans will be. Apply early and apply often for any form of financial aid you do not have to pay back.
– Work through school so that you rely on loans less. If your semesters are full, at least work during the summers and vacations to defray your expenses.
– Get out of the spending habit. Get a roommate and consider swapping or buying needed items online. The less you spend now, the less you’ll have to repay later.
– Get one credit card but stay out of serious debt. Credit card companies often woo students with great deals. Find the best deal you can find and apply for one credit card. Pay that card off every single month to avoid interest costs and to establish a good credit rating. Stay away from other sorts of personal loans, payday loans, and unsecured debt as much as possible. It will only add to your student loans and will make starting over after college much harder.