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.
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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?
College is a big commitment and burnout is easy if you don’t pace yourself. That said, taking a semester off is a normal thing to do while pursuing your degree. Whether you need a quick break for personal reasons or exciting opportunities, like a once-in-a-lifetime trip or work experience, here’s what you need to know about your scholarship money before taking time off.
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The Free Application for Federal Student Aid — more commonly known as FAFSA is the key to funding your college education. Not only can the FAFSA connect you to grants, scholarships, and work-study opportunities, but filling out the form is
also the first step to applying for federal student loans. Even though filling out the FAFSA is simple and straightforward, several misconceptions still fly around it. Here are the top FAFSA myths you need to stop believing. [...]
Everyone wants to win a full-ride scholarship and enter their freshman year without financial stress. However, the reality is that you have a greater chance of winning smaller scholarships to aid your degree goals. Get a head start on your scholarship game this summer, so that you can head into your senior year closer to funding your college goals. [...]
