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?
|
|
|
|
|
|
Latest College & Financial Aid News"U of Farmington" Fraudsters Prosecuted, DeportedDecember 10, 2019 The U.S. government set up a fake Michigan university as part of a sting operation to catch visa fraudsters. Agents of Immigration and Customs Enforcement (ICE) secretly established the University of Farmington, enrolling more than 600 students studying science and technology in a "pay to stay” scheme. As a result, roughly 250 students have been arrested on immigration violations. [...] Amazon Offers $40K Future Engineer ScholarshipsNovember 6, 2019 E-tail giant Amazon is now accepting applications to its Amazon Future Engineer Scholarship Program for students entering college in the fall of 2020. The scholarship program offers 100 current high school seniors from underserved and underrepresented communities across the country the opportunity to receive $40,000 scholarships to study computer science at a four-year college or university and a guaranteed paid internship offer at Amazon after the completion of their first year. [...] NC Senator Proposes Taxing of Athletic ScholarshipsOctober 31, 2019 In response to the NCAA's vote to allow athletes to profit from their names, images and likeness, Senator Richard Burr of North Carolina has proposed taxing those scholarships. Senator Burr tweeted: "If college athletes are going to make money off their likenesses while in school, their scholarships should be treated like income. I'll be introducing legislation that subjects scholarships given to athletes who choose to 'cash in' to income taxes." [...] |
Money Management
- 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
