The Federal Student Aid. gov website has tons of helpful information if you need guidance. But when it comes to college, the cost doesn’t stop at tuition. If you live in a dorm or an apartment, take into account the cost of living. Finding your books, school supplies, or anything else you may need for class. Plus, you can’t forget about having a social life!  Check out these tips to help you manage your schooling costs.

• Fill out FAFSA earlier, even if you don’t think you’ll get anything. You never know if you don’t do it! Know your deadlines: FAFSA opens October 1st! Check out the FAFSA website for more information.
  • Compare grants (free), scholarships (earn), and loans (borrow)
•  Apply for scholarships! Whether it’s $500 or $5000, anything helps!
  • Look for small or local scholarships, as they are less competitive
• Before accepting that loan, ask:
  • Subsidized vs Unsubsidized
    • For subsidized loans, the government pays the interest on the loan while the student is enrolled in school at least half-time, during the grace period (typically six months after leaving school), and during periods of deferment (postponement of payments). This means the loan balance doesn’t increase during these periods.
    • For unsubsidized loans, interest starts accruing from the moment the loan is disbursed (sent to the school). The borrower is responsible for paying all accrued interest, including during in-school periods, deferment, and the grace period. Borrowers can choose to pay the interest while in school or allow it to accrue and be capitalized (added to the principal balance).
  • What’s the interest rate on the loan?
  • When does repayment start for this loan?
  • Will I need all or some of the loan?
• Start at a 2-year college and transfer to a 4-year university. This can significantly cut the cost of tuition.

• Roommate = savings: Splitting rent and utilities can save hundreds each month.
• Meal plan: Sometimes cooking your own food is cheaper; sometimes the campus meal plan is worth it. Compare costs.
• Used furniture hacks: Use thrift stores or Facebook Marketplace to find affordable decor.

• Rent or buy used books. Check Chegg, Amazon, and other websites to find the best deals for your books.
• Ask your professor first. Some books aren’t heavily used or have free online versions.
• Library = free: Campus libraries often have reserve copies of textbooks.
• Go digital. E-books and open educational resources can be cheaper (or free).

• Set a fun budget. Decide how much you’ll spend each week on eating out, events, or trips.
• Use student discounts. Many restaurants, movie theaters, and apps offer deals with a student ID.
• Free campus events. Clubs, student orgs, and universities host free concerts, movie nights, and food events.
• Swap pricey outings for low-cost hangouts. Potlucks, game nights, or hiking trips stretch your dollar further.

Remember Money Path? It is a web-based tool that helps students connect academic and career planning with financial planning. Revisit this platform and edit old paths or create new ones. Remember, you could compare schools by real graduation rates, tuition, typical student debt, workforce, apprenticeships, and more.

👉 Try it here

We’d love for you to keep using the Money Path app! Go to MoneyPathApp.org and log in today. If you forgot your login information, just click on “reset your password”. If you used your school email and don’t have access anymore, no worries, you can use this new class code to create a new account. “Create A New Account with Your Class Code” on the homepage and enter class code 978-7779 to begin setting up your account and exploring the tool.

Looking for more student loan support? Check out debstmarts.org, and their socials for helpful resources from the WI Coalition on Student Debt. They’ve been posting some really solid content lately. (Debsmarts is the public name for the WI Coalition on Student Debt).