Did you know that there are around 20 million college students in the United States alone? Are you getting ready to join them and start moving toward your future goals?
Preparing for college is challenging. You need to get your academics in order, make sure that you have all of your necessary supplies, secure housing (if applicable), and more. One of the most key factors when you’re trying to prepare for college, however, is funding.
It’s no secret that college is expensive. The cost of going to college has risen astronomically in comparison to the average person’s wages. It’s tripled over the past twenty years, and this makes it inaccessible for many people.
We’re here to offer a few tips for how to financially prepare for college, so you don’t drown in debt later on. Read on to learn more.
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Get a Job Before College Starts
If you still have some time before you’re ready to start college, it’s in your best interest to get a job as soon as possible. You can start saving way ahead of time and reduce the amount of money that you’ll need to spend on student loans.
This can be difficult if you’re a high school student. In some places, finding jobs before you’re a legal adult can be complicated. Many workplaces discourage underage workers because they aren’t able to work long hours and they have to work around their school schedules.
With the current need for more workers, however, you may have some luck when it comes to finding a job that’s willing to work with you.
Make sure that you’re able to balance work and school without getting overwhelmed. It’s far more important that you keep up with your academics. You won’t be able to get into college or get scholarships if your grades fall too low.
Even if you’re only working summer jobs, it’s a good way to slowly save up and chip away at the cost of your university.
Jobs That Are Good for Current College Students
If you’re already in college and you’re preparing for future years, you’ll have more employment options. That said, you still have to balance your school schedule and your work schedule. Getting too involved with work can damage your ability to perform to your best ability (and you can end up losing scholarships or other types of funding).
While college students can work most types of jobs that they’re qualified for, there are a few jobs that are better than others when it comes to flexibility and pay. Here are a few good jobs for college students who need to make extra money without disrupting their schedules.
On-Campus Jobs
Most college campuses have jobs available for current students. If you’re not sure what’s available to you, ask your school’s employment counselor. There may even be an online database of jobs that you can choose from (and some schools also have databases of local businesses that hire college students).
So what types of on-campus jobs should you expect?
Many students end up working with food. Whether they’re working in the on-campus cafeteria or various food and coffee stands – it’s not much different from working in fast food.
Many students like working in the school bookstore. While the bookstore is headed by school faculty, students often work the registers and help other students find what they’re looking for. The bookstore may need extra student workers when graduation is approaching (as they may handle all necessary graduation materials).
You may also be able to work in the school’s writer’s center. This is where you can help students with their essays and even offer tutoring options.
Some schools need student library assistants. They work alongside professional librarians to help students find what they need and offer research guidance.
This is only a small selection of common on-campus jobs. Be sure to talk to your advisor for more information.
Internships (That Pay)
If you’re lucky, you’ll be able to find a great internship that goes along with your field of choice. If you’re short on funds, make sure that the internship that you find can pay you.
Technically, all internships that primarily benefit the employer rather than the student have to be able to pay, even if it’s only minimum wage. That said, many businesses ignore this rule and students are often too afraid to bring it up for fear of losing the valuable internship.
There may be internships or assistantships within your own school. It’s not uncommon for professors to need TAs or research assistants (though these are more common for graduate students).
Pick an internship that makes sense for your future. Not only can internships make you more financially secure, but they can also help you build your network so you’re ready to break into your field when you graduate.
Jobs That Help With School
There are some companies that will help their workers with college tuition. These include Taco Bell, Starbucks, and several others. These jobs are always hiring and they have a relatively low barrier to entry. They often tend to have flexible hours.
Working in fast food might not seem glamorous, but it’s a great option for a college student who is able to work night shifts and needs extra cash to help cover college expenses.
Good Side Hustles
Sometimes a job isn’t enough, or it’s just not possible with your schedule. In this case, it’s in your best interest to find a side hustle that works for you. You won’t make as much money as you would with a traditional job, but you will be able to bring in enough income to help contribute to your college payments.
A warning to the wise: avoid predatory side hustles that are actually multi-level marketing schemes. While it’s possible to make money this way, the vast majority of people lose money.
There may be advertisements for these things on local Facebook groups. These companies know that college students are often looking for ways to make extra money from home. Stay wary.
Here are a few side hustles that can make you money without dealing with scams.
Rideshare or Delivery Driving
If you have the time and a car, you may want to consider driving for a company like Uber, Lyft, or Doordash. While this is a taxing side hustle, people in college towns can make a lot of money, especially at night when you aren’t likely to be in classes.
This is a “feast or famine” type of side hustle. There will be nights where you make $30 per hour and nights where you barely make anything. You also have to factor in the cost of car maintenance and gas.
If you’re able to make a profit while driving a few hours per week, it’s a great way to supplement your income and support your college funding.
Tutoring
Tutoring is another great way for college students to make money. There are always going to be schools nearby, so there will be plenty of students who are in need of a tutor. Bonus: this is also a good option for high school students.
If you’re somewhat advanced in your college career, you have an advantage over other potential tutors (especially if you’re in a niche field). That said, all college students should be able to tutor early high school students and middle school students.
If you don’t want to tutor in person, look for online options. You can tutor people all around the world from your computer. You could even teach English to students in other countries without ever having to leave home.
Tutoring is also a great way for you to advance your own learning. If you plan to be an educator, it also looks good on a resume.
Don’t undersell yourself when you’re looking for potential clients. Remember that your expertise is worth more than minimum wage. Many parents are willing to spend a lot of money on a qualified tutor.
Writing or Editing
Writing jobs are abundant in 2022, though keep in mind that they won’t always pay as much as you’d like. They’re great for extra cash on the side, but you may need to be a college graduate to get one that can cover your living expenses and contribute substantially to your college tuition.
Look for freelance writing and editing jobs. Make sure that you’re able to handle the workload on top of your schoolwork.
If you’re lucky, you may be able to find editing work for other college students who need help with essays, or future college students who need help writing application letters.
By writing and editing for others, you can become a better writer for yourself. This can help you get better at school as long as you’re able to budget your time correctly.
Saving Money By Budgeting
As a college student, you’re going to be pinching pennies for the next few years unless you’re already financially stable (and if that’s the case, you likely won’t be reading this article). Budgeting both before and during your college experience will help you save money so you can pay for your expenses.
Creating a budget isn’t easy.
Before you start, track every purchase that you make for an entire month, no matter how small. This should also include rent and bills (if applicable). Start cutting down from there.
Many people find themselves overspending on food and drinks while others overspend on clothing or fun activities. Where do you stand?
Start trying to break your budget down into ‘needs’, ‘wants’, and ‘savings’. Savings, in this case, will mean your college fund (though ideally, you’ll be able to start putting money away for ‘real’ savings as well).
Your ‘needs’ can make up to 50% of your spending, though if you aren’t responsible for bills, put the extra into your savings.
Saving Money on Food
If you’re trying to save money at the grocery store (and you do your own grocery shopping), cut back on your spending by keeping your foods basic. Remember that buying beans, rice, and pasta from bulk bins will save you a lot of money in the long run, and these ingredients are all versatile.
Avoid using name-brand items when possible.
Financial Aid
If you’re below a certain income threshold (or your parents are), you may qualify for financial aid. This is one of your best resources when it comes to getting money for college.
Getting financial assistance from the state requires a quick application through the financial aid website.
Advice for College Scholarships
Regardless of whether or not you qualify for financial aid, you should always apply for scholarships when they’re available. You can get the entire cost of your tuition covered if you’re lucky (though it will likely only cover a small portion).
There are scholarships for all kinds of people. They’re based on things like academic performance, charity work, and more. There is always going to be at least one scholarship that you qualify for.
Remember to apply early and do your best. Many people are competing for the same scholarships. Here are a few tips for getting scholarships to help you out.
It’s Time to Prepare for College
Whether you’re leaving in several months or several years, now is the time to financially prepare for college. Earn money, apply for scholarships, get financial aid, and prepare to start looking for work when you get on campus.
College is expensive, but you can minimize your debt by planning ahead.
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