Living on a College Budget
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College life is an exciting journey, but it also comes with the challenge of managing finances, often for the first time. Living on a college budget doesn't mean sacrificing all the fun however. With some smart strategies and a bit of discipline, you can enjoy your college years without breaking the bank. Here are some tried-and-true tips for thriving on a college budget:
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- Create a Spending Plan
Start by tracking your income and expenses. Use a simple spreadsheet or a budgeting app to keep everything in check. This will help you understand where your money goes and where you can cut back. Always remember to save first. Before you spend on anything else, set aside a portion of your income for savings. Even a small amount can add up over time and give you a financial cushion.
- Avoid Credit Card Debt
Be cautious with credit cards. They can lead to debt if not managed properly. Use them wisely or stick to debit cards and cash for the majority of your purchases.
- Textbooks on a Dime
Textbooks can be a major expense. Look for used textbooks, rent them, or see if they’re available as free e-books through your library. Selling them back at the end of the semester can also recoup some costs. Some campuses now offer textbook rental, too.
- Scholarships and Grants: Complete the FAFSA
Colleges and career schools use the FAFSA (Free Application for Federal Student Aid) to determine how much financial aid you’re eligible to receive, which includes grants, scholarships, work-study funds, and federal student loans. Students must apply for financial every year. Always be on the lookout for scholarships. There are numerous opportunities that go unclaimed every year. Scholarships are considered free money and can significantly reduce your education costs.
- Part-Time Work
A part-time job or side hustle can provide extra income, and it's also a great way to gain work experience and build your resume. Money from a work-study job, or any employment on-campus or off-campus, can help make ends meet when budgets are tight.
- Student Discounts
Take advantage of student discounts. Many college-town businesses offer reduced rates for services and products upon showing your student ID. Check your campus for free or discounted athletic, entertainment, and a variety of other discounts, as well as gyms and counseling.
- Assess Eating Plans or Cook at Home
Eating out can drain your wallet quickly. Learning to cook simple, healthy meals at home can save you a lot of money.
- Shared Living
Consider living with roommates to split the cost of rent and utilities. It's also a great way to make lifelong friends. Research your college's on-campus housing and dining options and compare them to rent and eating out. Consider transportation, parking, and other amenity costs to determine if living off campus is the most affordable option for your situation.
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By following these tips, you can navigate through college without the stress of financial strain. Remember, the habits you form now will set the foundation for your financial health in the future. Embrace the challenge, and you might find that living on a budget can be both rewarding and fun!
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Oklahoma College Application Week 2024 |
College App Week (CAW) began in 2012, when the Oklahoma GEAR UP Program piloted the event in our state. The Oklahoma College Assistance Program joined the effort in 2014 to carry the CAW campaign statewide. This is our 11th year to sponsor this exciting week! The goal of CAW is to give every high school senior the opportunity to submit at least one college application online at school, with knowledgeable volunteers standing by.
Last year, 136 schools, libraries and tribal partners registered for College App Week. Over 3,000 high school seniors participated in CAW events statewide and submitted over 5,000 college applications. Applications were sent to colleges in 37 states and Washington, D.C.
This year, CAW is "officially" scheduled for the week of September 23-27. We realize this week may not fit into your school calendar, so we encourage schools to host their CAW during any week, September through November. The registration survey will give you the opportunity to tell us which week you have chosen for your event.
When your register your high school, library or community center for CAW, you will be sent free posters and an "I Applied" sticker for each of the seniors you expect to attend. Helpful resources for planning, hosting and following up after your event can be found at OKCollegeAppWeek.org.
Questions? Contact Letha Huddleston, lhuddleston@ocap.org
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NEW! Monthly FAFSA Webinars |
We invite you to join us for the first of our new FAFSA webinars. We will share valuable information and provide resources on improving FAFSA completion with your students. As the new FAFSA graduation requirement goes into effect for your 2024-25 seniors, we hope you’ll find these monthly events to be beneficial.
The first webinar is scheduled for Wednesday, August 14 at 10:00 am. Topics of discussion will include the new FAFSA graduation requirement, the Oklahoma FAFSA Data Portal, and FAFSA FastTrack, which will encompass a series of events across the state aimed at helping seniors successfully complete their FAFSA applications.
Register here to attend: OCAP FAFSA Webinar
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Mark your calendars for upcoming OKMM 'Make It Count' webinars on the third Tuesday of every month. Join us and our friends from Ready Set Repay on Tuesday, August 20, at noon as we discuss paying for college and the important considerations and research that can make college a possibility for everyone.
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We offer webinars for educators, students and parents on budgeting, saving, credit, and more. If you want to schedule a webinar, complete our workshop form, and we'll contact you to plan the details.
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