What Can College Students Do to Combat Inflation?

Enrolling in college can be a big step financially, especially with inflation on the rise. If you or someone in your home is college bound, you may be looking at costs carefully. In addition to tuition, college students who plan to attend classes in person have to look at travel expenses as well as living expenses. Below are some tips to help you potentially save as you embark on your college journey.

Look at Your Book Budget 

On top of tuition, college students also need to fork over large sums of cash for books. Fortunately, you may have options to rent textbooks versus buying them. You can also look to see if there is an option to buy a used book. It may be worth checking with students you know who have taken the same class previously to see if they would be willing to sell you their books if it is the same edition.

Don’t Forget to Submit the FAFSA Yearly 

Many colleges will harp on the FAFSA deadlines- and with good reason. By submitting, you can see if you qualify for federal student aid. 

Look for Scholarships 

Life can get busy, but using your extra time to search for and apply for scholarships can really pay off. Ask your advisor if they can provide any insight into scholarships that you should apply for. With inflation on the rise, many colleges are offering more scholarships.

If you want to search for scholarships online, you can also try websites like scholarships.com or scholarshipowl.com.

Research Student Checking Accounts 

If you are looking to make every penny count, look at your interest rate at your current bank and see if there is a better rate through a student account. In addition to commonly higher interest rates, student accounts also typically have lower fees and access to your cash when necessary.

Ask About Student Discounts 

Whether you are buying a laptop to take notes, or need new shoes to walk around campus, many retailers will offer discounts if you provide your student ID. A quick online search can provide a list of retailers currently participating in student discount programs. It’s worth checking before you load up your cart.

Ask Your Insurance Broker About Auto Insurance Discounts 

If you are looking for discounts for auto insurance reach out to one of our local offices to learn more about these potential offers:

  • Multi-policy discount: Many insurance carriers will offer discounts for having more than one policy through them, such as bundling your home and auto quotes together with the same insurance company.
  • Multi-car discount. Check with your insurance carrier to see if they offer this option.
  • Low mileage discount. Check with your insurance carrier to see if they offer this option.
  • Hybrid Vehicle/Electric Car Discount. Check with your insurance carrier to see if they offer this option.
  • Good Students Discount. Check with your insurance carrier to see if they offer this option.
  • Pay in full discount: You typically will save money on your insurance policy by paying your 12-month premium in full. Check with your insurance carrier to see if they offer this option.

Look at Budgeting Apps 

Sometimes you need to get the big picture of where your money is going, how much you are saving, and what your largest expenses are. You can sit down and make a budget, or, luckily, there are a number of different apps that can help you with this.

 

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This article is for general informational purposes only and is not to be relied upon or used for any particular purpose. Cross Insurance shall not be held responsible in any way for, and specifically disclaims any liability arising out of or in any way connected to, reliance on or use of any of the information contained in this article. The information contained or referenced in this article is not intended to constitute and should not be considered legal, insurance, accounting or other professional advice, nor shall it serve as a substitute for the recipient obtaining such advice. The views expressed in this article are that of its author and do not necessarily represent the views of Cross Financial Corp. and its subsidiaries and affiliates (“Cross Insurance”) or Cross Insurance’s management or shareholders.

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