Blog Highlights:
How to Prepare for College Success: Learn the importance of planning, setting goals, and managing your time effectively.
Smart Money Moves for Students: Discover why opening a checking and savings account, building credit, and budgeting are key to financial independence.
Understanding Financial Aid & Scholarships: Get insights on FAFSA, student loans, and scholarship opportunities to help fund your education.
Congratulations on taking the next step in continuing your education and applying for college! As a young adult, heading to college is an exciting time because you get to experience freedom, responsibility, and new encounters that will shape your future.
To help make your college journey as smooth as possible, we’ve put together a few helpful tips for you.
One of the first steps to becoming a thriving college student is planning. While it may not sound glamorous or fun, we promise it’ll be valuable when it comes to balancing your coursework, a part-time job, plus a social life. Being a college student brings new experiences and learning opportunities. That’s why it’s important to know how to prioritize, plan, and set goals so you can live your best life while you’re there.
Many financial institutions offer checking accounts designed specifically for young adults. If you don’t already have a checking account, now is the perfect time to open one! Becoming a member at Consolidated Community Credit Union is fast and easy. Our helpful branch team can get you set up with our Checking Account and a Visa Debit Card in no time.
After your checking account is opened and you’ve received your debit card, we recommend signing up for our online and mobile banking. With these platforms, you'll gain access to helpful money management tools such as, mobile wallet, account alerts, budget tracking and eStatements to help keep your finances on track while regardless of where you attend school.
If you’re planning on picking up a part-time job to earn some extra cash, be sure to sign up for direct deposit so your paycheck is quickly and automatically deposited into your checking account.
So, you’ve gotten your checking account and debit card but what about a savings account to tuck money away for tuition, rent or emergencies? The reality is, you just never know when you’re going to need extra cash. A savings account will help you set money aside in case an emergency comes up.
Financial aid is a federal government program that awards financial assistance to students in need in the form of grants, loans, and work-study programs. The FAFSA form is available on October 1st of every year for the following school year’s enrollment. For more information about completing the FAFSA form, visit studentaid.gov/apply-for-aid/fafsa.
A scholarship is financial support that is awarded to students based on academic achievement or other criteria such as a financial need for the purpose of continuing education. You can learn about scholarships by contacting the financial aid office at the school you’re attending, checking your local public library, or by applying for our CCCU Scholarship Program.
As you’re searching for scholarships, be careful of potential scams by making sure the information and offers you receive are legitimate. Remember, you don't have to pay to find scholarships or other financial aid. Check out more information on how to avoid scams.
When applying for student loans it’s important to note that there are different lending alternatives available. Before you make a decision, it’s best to do a comparison of federal and private loans so you can determine which option is best for you.
Federal Student Loans: Loans funded by the government; typically, payments aren’t due until after you graduate, leave school, or change your enrollment status to less than half-time.
Private Student Loans: Nonfederal loans funded by a lender such as a bank, credit union, state agency, or a school; many require payments while you’re still in school, but some do allow you to defer payments until graduation.
Depending on the cost of your tuition, you may need both federal and private loans. While you’re researching your options, be sure to factor in things like when the repayment period begins, interest rates, and affordability.
The key to a successful college experience is knowing what to expect and how to prepare for it. It’s also important to remember that your experience may look different from your classmates because everyone’s goals are different.
Take advantage of all that college has to offer from participating in clubs and exploring the incredible opportunities for academic achievement to enjoying events, meeting new people, and making new friends. Your college experience will be filled with new adventures and everlasting memories. This is one of the most exciting times of your life, so make the best of it!
If you are looking for trustworthy financial advice or a reliable checking account, savings account, or credit card to start building your credit, contact CCCU today!