Families know how important a college education is to build up the future of the children. However, to get that higher education oftentimes mean that the student has to be in debt for it. Although most parents work hard to make sure that they can support the education of their kids, the expenses are usually not enough to support the entire college finances that you will need.
There are many programs that help incoming college students and parents save for college. While these can help, not everyone has that extra money to put aside every month. If your parents are only earning minimum wages, what can you do to help make college more affordable.
How being a working student can secure your finances in school
In most cases, it is just easier to give in to student loans to support your college finances. However, do not let them pile up so much that your debt makes college education worthless. The obvious solution to your dilemma is to learn how to earn your keep. Even if you are underaged and ideally should be concentrating on your studies, there are always opportunities to earn on the side.
Study shows that the average college student spend only 15 hours in the classroom every week. Add to that an approximate of 15-20 hours of studying after classes and you get around 35 hours of your time spent in school. What do you do with the remaining 133 hours? Even if you sleep for 10 hours everyday and 5 hours daily for chores and recreation, that still leaves you with around 28 hours of idle time. What better way to use that than to earn money to help with college finances?
There are 5 different reasons why working while in school will really benefit you.
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Helps lower your student debt. The main reason to be a working student is to help with your student loans. You can actually start paying for the interest on your loan to help reduce the debt that you owe.
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Supplies you more money to spend everyday. If you work on the side, you could have more than enough to pay for your meals, board and lodging and other school expenses that you will need. That way, your student loans can concentrate on paying for your tuition fee alone. It can also help you finance any entertainment activity that you want to follow.
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Teaches you time management skills. Juggling your work and studies can be a challenge but the good thing about it is it forces you to manage your time. This is a great training for you when you start working in the corporate world.
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Allows you to practice money management. Some students, unfortunately, are very reckless when it comes to their college finances. That is mainly because they are not spending their own money. They never realize the value of money until they start earning it. If you are working to earn the money that finances your daily expenses, that will make you more conscious of how you spend it.
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Gives you an edge when you start working after graduation. While your academic qualifications will get you a job, having a work experience will make you rise above the other applicants. You may want to consider that as an important stepping stone to earn a higher salary after graduating.
Student jobs that can contribute to your college fund
There is a program called the Federal Work-Study that enables qualified students to get a part time job to help with their college finances. Most financial aid offices in colleges and universities implement this program to assist those who need help with their college expenses. Usually, they will give you a job that is relevant to the course that you are getting. If you want to know more about this, you can visit the StudentAid.ed.gov website.
Apart from this program, there are also other ways for you to source out some extra money for your financial needs. Here are some part time jobs that you may be interested in.
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Retail. Most retail stores love to get college students and this is a popular choice because they can provide flexible work schedules. Apart from the usual $8 per hour pay, you could also earn commission with every sale you make.
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Restaurants. Another option is in restaurants. Waiting tables is a good option but if you know how to cook or tend to the bar, that may be a great place for you to earn some money. Depending on the job, the pay can begin at $3 – with tip.
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Babysitter. Babysitting is a great way to earn money and enjoy the company of kids. If you do it at night, you can squeeze in some studying while the kids are asleep. This job can earn you $8 per hour.
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Tutoring. If you are good with academics, why not put it to good use and tutor those who are having difficulty with certain subjects? You can charge at least $15 per hour for this.
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On-campus. There are various job opportunities on campus: bookstore, campus office, library, etc. You can earn an average of $10 per hour.
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Internship. Always be on the look out for internships being offered in the local offices near your school. The average pay depends on your position but it usually is higher than other job types.
Make sure that you know how to utilize your time and money so your college finances can be boosted by your part time job. It really pays to be a working student and you might want to seriously consider it.