Student Checking Accounts
Opening and managing a checking account is an important student money management lesson. For many college students, having a checking account is a new experience. Learning how to balance and manage a checking account is a great way to develop basic money management skills.
Many banks offer free checking accounts for students. As soon as you get your student ID card, you will be able to apply for one of these accounts. When you are researching your options, look for a student account that is truly free. The best accounts require small opening balances, do not charge for printed checks, do not charge a monthly maintenance fee and do not accumulate fees for debit or card transactions. Be careful of "hidden costs" or offers that sound too good to be true.
Questions to Ask When Opening a Student Checking Account
- Does the account include overdraft protection?
- How much money is required to open the account?
- Is there a monthly fee?
- Is there a transaction fee for debit card transactions?
- Is there a charge for withdrawing money from an ATM machine?
- What is the fee, if any, for checks?
- Will I have 24/7 access to telephone banking?
- Will I have access to online banking? Is there a fee?
- Will I receive statements via mail or electronically?
- 8 Great Ways to Save Money in College
- Apartment Penny-Pinching
- Avoid Credit Card Debt
- Basic Money Management
- College Money Management Tips
- Go On A Budget Diet
- Money Management for College Students - Learn to Recognize Want vs. Need
- Resist The Urge To Splurge
- Student Checking Accounts
- You and Your College Fund
- You Are Your Credit Score
Latest College & Financial Aid News
March 28, 2017
by Susan Dutca
The Princeton Review’s 2017 College Hopes & Worries survey reveals that biggest worry for students and parents is the "level of debt I/my child will take on to pay for the degree." While this concern doesn’t come as a surprise, it differs greatly from the average woe a decade ago; not "getting in to [a] first-choice college." [...]
March 24, 2017
by Susan Dutca
What do spring college scholarships bring? Potentially thousands of dollars in free college money to help foot your college tuition bill! Whether you are relaxing over spring break or heavy into spring cleaning, don't forget to do your academic and financial aid housekeeping. Explore these spring-centric awards, as well as college scholarships with spring 2017 deadlines. Or if you prefer, conduct your own free college scholarship search here: [...]
March 21, 2017
by Susan Dutca
Finding a way to pay for college is a whole mess in itself. Add to that the stress of filling out a FAFSA and now, the removal of a key I.R.S. tool that made the process somewhat less difficult, and you have millions of students in limbo, panicking about how they will pay for college. [...]