Follow these tips to manage your money while in college:
Complete a Renewal FAFSA each year of college to continue receiving financial aid – including student loans. Use your FSA ID to access your Renewal FAFSA at fafsa.gov. Contact EducationQuest if you need help.
Continue applying for scholarships throughout college. Talk to the financial aid office about college-specific scholarships, and visit free scholarship search sites such as ScholarshipQuest, SchoolSoup, and Scholarships.com.
Think before dropping classes. Dropping below half-time could force you into student loan repayment and jeopardize your scholarships and financial aid. Talk to your academic advisor and the financial aid office to make sure you understand the consequences.
Learn how to manage your money. To learn money management tips for college students, take a financial literacy course such as Financial Avenue.
Estimate future student loan repayment. Chances are, student loans will be part of your financial aid package, and repayment part of your future. To estimate your future student loan debt, multiply the amount of your freshman loans by four. Use this Student Loan Repayment Calculator to get an idea of future monthly payments.
Keep track of your student loan debt throughout college at nslds.ed.gov (use your FSA ID to access your data).