You’re about to begin another academic year and money can be tight when you’re a student. Whether you’re a returning college student or just entering college for the first time, you may have questions about how you can cover the costs of college this year. Here are some tips to consider:
- Check your FSA ID status. The FSA ID (Federal Student Aid Identification) is the username and password that you set up before filing your first FAFSA which serves as your electronic signature. If you haven’t used your FSA ID in a while, it may need to be re-enabled. This can be done at the manage my FSA ID tab at fsaid.ed.gov. Your FSA ID can’t only be used to access and sign your FAFSA, but also to sign your Master Promissory Note (MPN) if you apply for a Federal student loan, apply for a repayment plan, complete loan counseling and use the Public Service Forgiveness Loan (PSLF) tool.
- Apply for institutional, tribal, civic and community scholarships. Students are encouraged to apply for scholarships now and throughout their college years. We suggest trying UCanGo2.org, OKcollegestart.org and UCanGo2’s Scholarship Success Guide.
- Find a part-time job. Many schools participate in the federal work-study program. If you demonstrate financial need, you may be able to work part-time on campus or at an approved site off-campus. The money you earn at a work-study job is then used to help you pay your college expenses. If you don’t qualify for work-study or your school doesn’t participate in this aid program, watch for job opportunities posted around your campus and online. Visit the campus career services office for resume building, interviewing tips and job placement opportunities.
- Develop a budget also known as a spending plan. No matter how much or how little money you may have, learning to manage your finances is crucial to your success now and later in life. Learn more about developing a spending plan as a college student at OklahomaMoneyMatters.org.