Financial aid guide for students and parents

College life is synonymous for restricted resources with endless expenses and the rising cost of education further worsens the situation. Though loan is an evident option for assistance in college costs, saving money for paying your tuition and fees will help you pass out as a graduate without any burden of debt in the shoulders. Just like it is said that ‘Every drop fills the ocean’ similarly, small savings in the form of cents will help create a huge amount in dollars for your education.

Saving money is easy and one does not need to stay hungry or stop going out with friends completely to save money. It can be done by adopting simple money saving tips that will go a long way in planning for your college savings. Some of these simple, value-for-money tips are –

• Instead of buying textbooks, swap textbooks or go for online rental of books.

• Put the change money from your pocket in piggy bank daily and when it gets full, take the money to the bank and deposit it.

• Every time you get cash back award on anything, put it in your college savings account.

• For entertainment, instead of going and splurging out on movie theatres, rent movies and enjoy them with your friends at home.

• Build your savings with an Upromise account, which is a savings club that helps members in saving by providing rewards on purchases made.

• Keep yourself busy to avoid unnecessary expenditure on entertainment. Opting for a part time job will not only keep you busy, it will also help add money to your savings.

• Graduating early, which means in 3.5 years, is a smart move. Though it involves taking some extra efforts, it is worth the cost.

• Instead of driving to college and spending on fuel and parking tickets, seek alternative, more economic sources of transportation.

• Eat healthy to stay fit and explore the options while choose meal plans.

• Get the right plan for your cell phone and avoid text casual messaging as it is a waste of time and money.

• Try to cut down on electricity bills by switching off the lights when not in use.

It is also important to explore all the ways you can save money including aids, grants and scholarships. There are various weird and unusual scholarships like scholarship for left-handed that are granted to students and there are chances that you are eligible for some unusual scholarship.

One can follow these simple tips and save money for your college in ways you had never even expected.