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Most college students will have trouble saving up their money to fulfill their lifestyle as well as their necessities in life. College fees, tuition fees, bills, and all sort of expenses that needs huge bucks in order to be paid.

Some of you might have tried a part-time job but it just won't cut it. Getting a scholarship to get into college would be a dream for most people but it seems that not everyone is fortunate enough to get one.

Here are some tips on how you can save money while being a college student:

1. Use Reward Credit Cards

Based on creditcards.com, there is a bunch of credit cards with perks that will seem very beneficial to most college students. Rewards include cashback, discounts, and points which can be redeemed for merchandise. 

It can be said that the average tuition fees for college are $12,804 and it is only increasing each time. Those are huge numbers and without proper money management, you will definitely have trouble settling those fees. By using a credit card with 1% cashback rewards, you will save close to $130 for every semester.


You might not have the money in your pocket to even afford the tuition fees but you can definitely use this for other expenses. Besides, some colleges will dismiss your tuition fees if you manage to get good grades.

2. The 529 Plan

For those of you who have not heard of this plan then you definitely need to check it out. According to the US Securities and Exchange Commission(SEC),
A 529 plan is a tax-advantaged savings plan designed to encourage savings for future education cost

Well, as you can see, it is set up by the government in order to help college students with their tuition fees so that you can have a better future. There are 2 types of plans which are prepaid tuition plans and education savings plans.

Depending on which plan you take, both will have different benefits to you. Regardless of you having enough money for your tuition fees, it is never too late to apply for the 529 plan. You will see the difference in the amount of money you will save in the future.

3. Sell Back your old Text Books

It is easier said than being done since we all know that most book stores don't accept used books simply because it's hard for them to sell it back. But no worries! You can always sell them online through this website BookScouter.

This website will compare the price of your books on all the other websites for the best price so you will get the most out of your book. Therefore, you also won't have to worry about queuing on a long line simply to sell your old books which is very time-consuming. 

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Old books will no longer be available in most book stores since the companies will always publish new books each year. But to be honest the contents are usually the same. Since you also learn new things in the next semester, it's best that you sell the old books to make room for new books.

4. Take the American Opportunity Tax Credit(AOTC)

According to the Internal Revenue Service(IRS), AOTC is
 A credit for qualified education expenses paid for an eligible student for the first for years of higher education

The government will pay you back up to $2500 annually for your tax bills. Not just that, but if the tax credit is brought to zero, the government will give you back 40% of any remaining credit (up to $1000) refunded to you. You will have the potential to get up to $1000 to pay back your tuition fees.

There are also other types of credits that can be obtained from AOTC such as you can straightly deduct up to $4000 in your tuition expenses from your personal income taxes. Other than that, there is also the Lifetime Learning Credit(LLC) which lets you save as much as $2000 to $4000 on your tax bills as long as you pay your tuition fees.

There are some criteria for you to be eligible in this and you need to have a check whether you can also apply.

5. Get a Student Loan and Invest that Money

There are some risks associated with this method and you need to do your own research before jumping in into any sort of investment. If you are a risk-taker then you should definitely give this a go. If we look at it, the interest rate for a student loan from the government is usually low. You can take this opportunity by investing in the stock market.


If you have the money to pay your tuition fees, then you can make some extra money by putting it in the stock market and paying your tuition fees with the student loan.  Let's say that your student loan's interest is 3.8 percent and you manage to get 7 percent gains from the money you invested in the stock market. You will have to n 3.2 percent profit by investing and not by paying your tuition fees.

There is no excuse for not being able to make any money while being a college student. You will need to be smart when it comes to managing your money. You can always make money despite having to pay your tuition fees.

What did you do in order to make some money while at college?