When I decided to come to an out of state college I knew that I would have to learn how to manage my money. I came to a private school in Pennsylvania, and private school are more expensive but I decided to come to Lycoming College because they gave me really good financial aid for being a private school, and it was out of state so I took it as an opportunity to be independent.
Prior to college I never had a job, I would do babysitting or photography but it wasn’t consistent enough for me to have enough money for college. My parents and I decided it would be a good idea to take out loans because although the school and FAFSA gave me a lot of grants and scholarships, I still had an amount of money to pay for each semester that I couldn’t pay out of pocket. I had to be careful with my parent’s money and my own money.
Freshman year, my parents will deposit money into my bank account to fulfill my monthly payment plans for the semester, and a little extra for necessities or to go out and have fun. My sophomore year and this year, I applied to more on campus jobs, which obviously I was making a bit more money than my whole life to be just enough to pay off my school fees and necessities. I would rarely ask my parents for money because I was able to pay it off with the money I was making with my jobs. I think what helped me the most is having the grants that the government gave out ad COVID relief grants. Our school will send out emails to students eligible for the grant, and I will immediately apply because it will help so much. It will be deposited straight to my bank account or be put as a credit balance in my student account.
Since I don’t have my parents with me, I had to learn to pay for groceries and home/life essentials on my own. It felt so weird when I first did it, and i felt so grown and proud but also very uneasy because I was used to my mom buying those things and already having them in my house, now I had to go out and buy them myself. It is a part of growing and it’s exciting.
The best tip(s) I can give anyone as a College student, is to find a system that is best for you in managing your money. I don’t really budget or restrict myself from spending money, as long as I know that I have enough to pay for my books, tuition, fees that are listed on my student account. It stresses me out and I never go according to plan. If you are worried about not being able to afford college, there’s many grants and scholarships that your school may offer, I apply to as many as you can. Choose the right school for YOU! Have a job on campus so that you can earn money while in school and save up if you need to build up your bank account. Make sure you also find out what discounts or deals your college town or city offers you. For example, I don’t have a car here so I ride the bus and it is free for students. Speaking of discounts, you can save money on stores you like with your student discount. There’s many options and you can always find away to save money while also spending. Just use it wisely!
Most importantly… apply for FAFSA, as soon as the application opens up! It saves you time and the sooner you do it there is a possibility that you can get more money.
Best of Luck Boss people!