It’s back-to-school time and for parents it brings a new round of expenses that can cause your budget to bust at the seams. For parents sending students off to college, the expenses might seem like a never-ending battle, but with determination this battle can be much less painful.
There are several ways to save money on college costs. Let’s take a look at some and see what best fits your situation.
Take full class loads. Adding an extra semester or extra year onto the college budget can be a budget-wrecker. Take as many classes as possible without suffering to guarantee you can get your degree in four years. Keep up with graduation requirements and focus on earning good grades in every course.
Apply. Apply for everything, including scholarships at the college, scholarships in your hometown and all types of financial aid, including grants from private and government entities. Don’t assume the scholarship is going to somebody else and don’t assume that the family doesn’t qualify for financial aid. There are certain exemptions in financial aid packets that might swing things in your favor.
Prioritize. Avoid being that college student who thinks they have to buy everything and bring it to school the first day only to realize he doesn’t need half of it. Buy only the bare necessities and then make a list of the items that are absolutely necessary once you get there. College students can get by with a simplistic lifestyle when it comes to clothes and accessories.
Use the college meal plan. Staying in the dorms usually comes with a meal plan, which is basically a prepaid card. Don’t end the semester with extra meals or points still on the card because you didn’t like the food or didn’t have time to stop by. College students shouldn’t be picky. Going to the fast-food place is an unnecessary and more costly expense when you have meals left on your card.
Find the discounts. College towns obviously cater to the college students, so find the places that offer discounts to students with an identification card. Take advantage of the places that do offer the discounts and frequent them to get that college hat or sweatshirt, or find which restaurant is giving 20 percent off the bill with a student ID card.
These are just a few simple steps to help students save money as they head off to college. Every bit helps and parents tend to appreciate it when they see their children making an attempt to cut down on expenses.
Michael Drapeau is Rabobank, N.A. Financial Services Officer in Murrieta. Rabobank, N.A. has 119 retail branches in California, including Murrieta. www.RabobankAmerica.com