Managing Costs During School

• Work part-time while in school (within limits established by your program of study).
• Work during all vacation periods and save as much as you can to pay for your in-school expenses.
• Try to obtain Federal Work Study funding. Check with your financial aid administrator.
• Ask your family for assistance.

• Find a roommate to share housing and other living expenses. Living alone in a single apartment can substantially increase your debt burden.
• Consider reducing entertainment expenses, such as dining out.
• Look into economical entertainment options within your school's community. Call the local recreation department or talk to fellow students.
• Consider public transportation. In the long run, it may be cheaper to rent a car for occasional excursions than it is to pay for insurance, parking, and fuel.
• Know where to find the local discount stores. Use coupons. Look for sales.
• Refrain from taking on further debt such as credit cards or consumer loans.

The money you live on as a student is not your own if it comes from borrowed funds (e.g., education loans, credit cards).

As you know, you must repay every dollar you borrow (plus interest). That repayment will come from your future income, so it will reduce what you have to live on once you graduate.

You need to think about this every time you spend these borrowed funds. You may make better choices while you're in school if you grasp how greatly your student lifestyle choices will affect your after-graduation lifestyle.

Try to live below your means while you are in school. Be thrifty! The less you spend now, the more you'll have once you graduate.

• Beware of buying "conveniences" such as fast food or drinks from vending machines.
• Live with a roommate.
• Bring your lunch and beverages to school.
• When eating out, pick "cheap eats."
• Dress for less — shop at secondhand and discount stores.
• Have "free fun" (such as concerts and other school-sponsored events).
• Go to matinees or rent videos.