It is quite common, in this day and age, for people to want to enroll in college and obtain a higher level of education that will benefit them in the future, though it comes with a price — a rather large price.
It is chatter to hear around campus that college is expensive.
Between tuition, room and board, textbook costs and other payments, college seems to leave student bank accounts nearly empty.
It is fair to say the college gives out many grants to its students, as well as scholarships and other forms of money rewards.
“Cabrini gave me grant money,” sophomore psychology and business major, Amber McVaugh, said. “I received the President’s and Honors ones. Those two helped with lessening the price of my tuition.”
There are many students around campus that are cautious of their money spending.
McVaugh has a savings plan which she follows regularly.
“I am very conscientious when I spend my money and where it goes,” McVaugh said. “But I can be like a lot of other teenagers and spend my money recklessly at the mall.”
Being aware of how much money is spent in college is important for students. There are ways to avoid spending so much and start saving.
Conserving is key.
Some ways to save money are making budgets, shopping where there are student discounts and buying or renting used textbooks.
Many students need to take out loans to help pay for the cost of college. It saves students money now but after graduation they have to start paying them back.
“One thing I would like to suggest for ways that students can be smart with their money is to consider paying the interest on their student loans while attending school,” Patricia LePara, financial aid counselor, said.
“This will significantly help with the balance of payments when the student graduates,” LePara said. “Students can contact their loan servicer to find out about repayment options.”
There are also ways to make money while attending college.
Some college students majoring in business have already invested their money in the stock market. McVaugh observed that that majority of men in her class were interested and told their professor that is a way they make money.
Students can also go to school and balance a part-time job.
Cabrini College graduate, Paige Taormina, always had a job while attending school. At one point she balanced 18 credits of school work, worked two jobs and was involved in many clubs and activities on campus.
Taormina explains that by working, a student can still maintain the grades that they need even though they have a something extra to do.
“My checks went to my bills or something I was saving up for like vacation, while my play money was from my tips from waitressing,” Taormina said.
College may be a bit pricey but there is no shortage of tips and tricks that students can learn to earn and save money efficiently.