Personal Finance Strategies For College Students


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Whether you're a recent high school graduate or haven't seen the inside of a high school in a great while, attending college is an exciting time. But college is also a potentially expensive time.

There are many things to consider. What should your major be? How are you going to pay for it? Are you going to live on campus, off-campus, or at home? Should you have a job while attending college? What about student loans?

We're going to examine all of these questions and more. A little planning can go a long way. There are many decisions that have to be made. The key is to consider the financial implications of every decision.

Higher education is expensive, but there are many things you can do to control the expense.

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Personal Finance Strategies For College Students

  1. 1. PERSONAL FINANCE STRATEGIES for CollegeStudents
  2. 2. • Attending college can be an exciting time. • There are many financial considerations that you need to make. • It’s important to have a plan, as a little planning can really go a long way.
  3. 3. CHOOSING A CAREER The illiterate of the future will not be the person who cannot read. It will be the person who does not know how to learn. - Alvin Toffler
  4. 4. Choose the right career as your starting point. Consider all aspects of the career. What is the likely salary you’ll receive when you graduate? What would you like to do?
  5. 5. CHOOSING A MAJOR A human being is not attaining his full heights until he is educated. - Horace Mann
  6. 6. Find the information. Consider your strengths and weaknesses. Ask yourself if you will like it.
  7. 7. CHOOSING A SCHOOL Data is not information, information is not knowledge, knowledge is not understanding, understanding is not wisdom. - Clifford Stoll
  8. 8. Find a list of top programs for your major. Get a feel for the real costs of those programs. Can you be accepted into the program?
  9. 9. HOW TO SAVE MONEY AT SCHOOL Education is not preparation for life; education is life itself. - John Dewey
  10. 10. Save on Books Buy your books used. Buy the international version of the book. Share a book with another student or students. Sell your books back at the end of the year.
  11. 11. Save on Food Look into the college’s meal plans. Will you really be eating breakfast? Consider using the meal plan for one meal per day. Keep snacks in your dorm room for hungry moments.
  12. 12. Home vs. Dorm vs. Off-Campus Off-Campus Most expensive Commuting costs Cooking costs Dorm Most convenient Time efficient Home Commuting costs Travel time
  13. 13. Scheduling Considerations Courses with labs are expensive. Make a schedule that works for you. Choose the right courses and professors. Consider whether or not you will be working.
  14. 14. WAYS TO EARN MONEY AT SCHOOL Education is the ability to listen to almost anything without losing your temper or your self-confidence. - Robert Frost
  15. 15. Earning Money at School Work for the university. Become a research subject. Tutor. Get a job off-campus.
  16. 16. DEVELOPING GOOD FINANCIAL HABITS Education is the key to unlock the golden door of freedom. - George Washington Carver
  17. 17. Tips for Getting Started Beware of credit cards. Build credit, but only wisely. Start saving a percentage of your paycheck. Avoid buying anything you don’t need. Try to find cheaper ways to buy what you need. Educate yourself about your finances!
  18. 18. FINANCING A COLLEGE EDUCATION It is the mark of an educated mind to be able to entertain a thought without accepting it. - Aristotle
  19. 19. Scholarships Find all the scholarships that apply to you and your situation. Apply to all of these scholarships. Have someone review your applications as a final check. Continue to look around for more options.
  20. 20. Grants Start the process early. Be complete. Do a search online. Look for federal grants on Check out grants offered in your state.
  21. 21. Student Loans Subsidized Federal loans that don’t accrue interest until graduation. Unsubsidized Interest accrues from day one. Private Guaranteed by the government.
  22. 22. Save on Federal Income Tax • Available for first two years. • Part time required. • Maximum credit is $1800. Hope Credit • $2000 per student. • Cannot be claimed if you take Hope Credit. Lifetime Learning Credit • Deduct up to $4000. • Cannot claim scholarship or grant expenses. Tax deduction • Deduct up to $2500. Student loan interest deductions
  23. 23. Save Money: Graduate on Time Schedule wisely. Avoid falling behind. Don’t over- schedule.
  24. 24. CONCLUSION Learning is not attained by chance; it must be sought for with ardor and diligence. - Abigail Adams
  25. 25. • Make the most out of your decisions with finances in mind. • Your career choice, school choice, scheduling, living arrangements, financing, and more all play a part. • Remember to schedule wisely. Plan a schedule that gives you the best chance to succeed.
  26. 26. We hope you enjoyed your Special Report! Curtis Roese is an experienced professional with extensive experience in personal finance and small business matters. Curtis writes and publishes articles, courses, guides and special reports on his personal finance blog. Common Cents Wisdom is a website with hundreds of informative articles, special reports, resources to assist you with all of your financial concerns and a free monthly newsletter. Sign up to receive your free eBook "Common Cents" and get started today on the road to financial freedom!
  27. 27. This Free Course Includes:  A Complete 80+ Page, 16-Module Home Study Course in PDF format  Companion Worksheets and Cheat Sheets  Budget Helpers, Worksheets, and Trackers  Bonus Audio Interviews with Financial Experts  My Secret Resource List of Helpful Money Sites, Tools, and Calculators  Bonus #1: Boosting Your Value Without a Formal Education  Bonus #2: Building a Wealth and Prosperity Mindset  Bonus #3: 25 Ways To Protect Your Identity Don’t Delay! Get Your Free Course Now!
  28. 28. Sign Up ~ FREE Personal Finance Newsletter “Finally… A High-Quality, Content Rich, No BS Newsletter Written Specifically For Those Interested In Personal Finance” What you can expect to receive EVERY Month by signing up:  Special Report – 10 to 20 page in-depth report on Personal Finance topics important to you!  Articles to keep you informed on a variety of topics relevant to your financial freedom.  Action Guides, Worksheets, Resources & Buyer Guides!  Monthly Financial Calendar to keep you organized and current with managing your personal finances.  Periodic reviews of Products and Services – Real Financial Solutions ~ Real Fast!