The Costs of College Through The Years

Over the years, college degrees and those who have them have varied and changed. In the early years, going to college was a rarity, and only those lucky enough, or with enough money, went. Of course, this changed, because nowadays, it seems almost more uncommon not to go to college than to go. Students begin thinking about college from an early age and the pressure is on to make the grades and be the best in your class. The competition is fierce! Applications to colleges and universities around the world flood in daily, while students hope to make the best choice for their own education. However, students and parents are facing an even bigger challenge: how much college actually costs. From tuition, to paying for books, living in the dorms, and getting a good meal plan, the costs add up quickly. And every year prices are rising. So what's a student to do? One of the best things a student can do is be aware of the issues surrounding student loans and the debt crisis, and plan ahead. Check out this infographic from ConsolidatedCredit.org and learn more about the history of student debt in America, and the eye-opening financial realities for the coming years.  

Using Other Bank ATM's

Today's tip stays with yesterday's theme of banking.
Try to find a bank or credit union which has ATM's, or a branch, on-campus or very nearby. When you need to take out money only use your 'home' bank's ATM. You'll be saving upwards of $2.00 per transaction you could be charged for using a different bank's ATM. Also - avoid those generic ATM's at the corner stores at all costs. Their transaction fees could range anywhere from $1.50 to $3.00 or more.
Finally - you can also save extra transaction fees by using the cashback feature when making purchases at places such as Walmart which offer this service. If you think ahead and plan it out - you can avoid paying extra fees when it comes to taking your own money out of your own account.
Cheers!

Tip of the Day Launch

As things start to gear up here at Money Smart Students, I'm happy to launch the first entry in our new 'Tip of the Day' feature. Every day - Monday through Friday - I'll be posting a tip which will help you either save money or make money as a student. I've seen lots of lists out there giving what I would consider to be absolutely useless tips ('Only use one Q-Tip to clean both ears - use one end per ear!' - give me a break). I do not intend to do the same thing.
Today's tip is this - Make sure you have the best account for your needs at your financial institution.
Most large banks and credit unions offer student accounts with either no fees or very small fees - other than ATM charges. Make sure you have the right account type to qualify for the 'no fee' feature. If you aren't in the right account - ask at the counter the next time you're in the branch. All they can say is you don't qualify or they don't have one. You could save yourself upwards of a couple hundred dollars in fees over the course of the year. Multiply that by 3 or 4 years at school and it adds up.

Watch That ATM Use!

Save yourself a lot of wasted money through unnecessary bank service fees. Only use an ATM from your home bank/credit union. You won't get double-dinged with the extra service charge from the other 'host' institution as well as your own ATM fee. If there isn't a 'home bank ATM' available - make sure to plan ahead and get cashback when you make a debit purchase at a business which offers this service...ie WalMart. No extra charges at all and it doesn't count as an ATM transaction if your banking plan keeps track.
Avoid those no-name ATM's wherever possible. They could have fees as high as $5 -$7 dollars depending on the size of the withdrawal.
Tracking where you take out your money will help you be Ready for the Real World!