Education is priceless! Having a degree can allow you to make more money over your lifetime. During your college journey, finances can be overwhelming. Below are a few helpful hints in financial decision making.
Financial Aid Do’s:
Work to make sound financial choices.
Apply for FAFSA/TAFSA and other scholarships early.
- The FAFSA/TAFSA must be filed each year and can be done beginning on Oct. 1. Filing early can assist in getting all the money you need.
Apply for full/part-time employment and work-study jobs.
Create a budget.
- This helps you see how your money is being used. Planning in advance can help you sidestep impulse purchases.
Learn more about
Direct Loans, including information about borrowing them and paying them back.
- The standard timeframe to repay student loans is 10 years or more. Avoiding damaging education debt is possible.
Make a plan for where you will live.
- Living at home or sharing expenses with a roommate can save tons of money.
Open a savings account.
- Many banks offer special, low fee accounts for college students to help you save for the future. Saving something — even a small amount — can be better than saving nothing.
Did you know you can rent, borrow or share textbooks?
- There are many options available to rent textbooks or buy them used. Sometimes the campus library will have a copy of a textbook on reserve. You can copy the pages you need.
Financial Aid Don’ts
Don’t eat out too often.
- Bring your coffee and lunch from home. Learn how to cook for yourself. Fast food can ruin your budget and your health.
Don’t miss class due to transportation. Know your options!
- Getting to class is vital to attendance and your success in the course. There are DART stops at all Dallas College campuses. Find out if you qualify for a
DART GoPass. You also may want to consider avoiding car payments by buying a cash car or carpooling.
Don’t take credit card offers.
- Many credit card companies have special offers for college students. Wait until you graduate and have a full-time job before you consider getting a credit card.
Don’t get stuck in a payday loan, which is worse than having a credit card.
- They may seem like a short-term solution, but payday lenders charge incredibly high interest rates. The trap of high interest loans you can’t pay off can become a bigger burden.