Category Archives: How to Pay College Tuition

How to Negotiate Your Financial Aid Package

As you begin to receive your college acceptance letters, the reality of financial aid becomes a critical part of your decision-making process. The financial aid package offered by your dream school might fall short of expectations, but it’s essential to understand that you might have the option to seek a more favorable offer. To start this process on the right foot, your approach to the discussion with financial aid officers should be strategic and measured.

How to Negotiate Your Financial Aid Package

Understanding the financial aid negotiation process

Your financial aid package may feel disappointing initially, but it’s crucial to remember that it isn’t necessarily final. Colleges often have some flexibility in their budgets but are guided by policies and precedents that structure their offers. To broach the subject of increased aid successfully, you need to change your mindset from one of negotiation—which can imply conflict—to one of appealing or requesting a review based on specific circumstances or new information. Colleges are primarily interested in fairness and responding to genuine need.

Begin by carefully reviewing your initial offer. Understand the details: grants and scholarships (free money), work-study opportunities (earned money), and loans (borrowed money). Analyzing these components will arm you with knowledge about where there might be room for adjustments.

Be prepared with concrete reasons why the current package is insufficient for your needs. Has there been a change in your family’s financial situation? Do you have updated academic records that weren’t included in your original application? Or perhaps you received a more competitive offer from another institution that aligns closely with what you’re looking for academically and personally.

The importance of negotiating your aid package

Negotiating—or rather, appealing—your financial aid offer is not just about getting more money; it’s about ensuring that your education is financially feasible without placing an undue burden on you or your family. An improved offer could be the deciding factor between accepting an admission offer or having to pass up on an opportunity due to cost constraints.

Aid offices are usually willing to discuss options and may help identify additional scholarships, grants, or adjusted loan options. By addressing your concerns appropriately and supplying relevant supporting documents, you increase the possibility of receiving a revised financial aid package better suited to making your college dream affordable. Remember, advocating for yourself through respectful dialogue can be a valuable learning experience in itself, providing insights into personal finance management as you prepare for college life.

Assessing Your Financial Aid Offer

When you receive your financial aid offer, it’s imperative to scrutinize every detail. You need to be able to distinguish between the types of aid presented: identify what’s a grant or scholarship—which doesn’t have to be repaid—from work-study positions and loans, which do come with an obligation. Understand that this is your starting point; the first draft of what your college education will cost you and where the money is coming from. Knowing the specifics will arm you with the information needed should you choose to appeal for more favorable terms.

Identifying gaps in your financial aid package

You must pinpoint precisely where your financial aid offer falls short. Is there a considerable gap between what’s offered and your family’s ability to contribute? Assess if any recent developments—like a job loss or unexpected medical expenses—have affected your family’s finances since the initial application submission. Additionally, if you’ve excelled academically or contributed significantly to community service recently, have this information on hand as well – it may strengthen your case for additional merit-based aid.

Equally important is comparing offers from other colleges. If they’ve recognized something impressive about you that your chosen college has overlooked, don’t hesitate to let them know. However, present this information factually and respectfully rather than as an ultimatum; you’re aiming for dialogue, not demands. By being thorough and meticulous, you contextualize why a reevaluation of your financial aid package is not only warranted but necessary. Approach this process with confidence in your value as a student and clarity about your needs – after all, the aim is not just enrollment, but sustainable enrollment without untenable financial burdens.

Preparing to Negotiate

Before you enter into negotiations for a better financial aid package, it’s crucial to be thoroughly prepared. Start by gathering all relevant financial information. This includes not only your family’s tax returns and any records of untaxed income but also a list of circumstances that have changed since you filed your Free Application for Federal Student Aid (FAFSA). Remember, preparation is key in demonstrating why an adjustment is needed. As you articulate the reasons behind your negotiation, ensure that all communication with the financial aid office is courteous and professional. Acknowledge their initial offer and express gratitude before you make your case for additional assistance.

Gathering the Necessary Documentation and Evidence

When approaching negotiations, arm yourself with concrete evidence of how your situation has changed or differs from other applicants’. Obtain letters from employers indicating a reduction in income or medical bills validating unexpected expenses. Such documents are powerful tools to substantiate your request for more aid. Moreover, if you’ve had significant academic achievements or community involvement that wasn’t included in your original application, now is the time to bring those accolades forward with certificates or recommendation letters.

To bolster your negotiation, be ready to present offers from other colleges—if you have them—highlighting where they may exceed what’s currently on the table. Leading with facts about financial changes or additional institutional offers provides credence to your appeal without resulting in hard feelings. With this approach, you’re not just asking for more money; you’re providing concrete reasons why additional support is justified. Be methodical and strategic in preparing for this conversation; it’s about finding mutual ground that aligns with both your education goals and the college’s capability to support them financially.

The Appeal Letter

How to craft an effective financial aid appeal letter

To start, you need to ensure that your appeal letter is directed to the right person. Research and find the most appropriate official or department head to address your appeal, as this can enhance the seriousness of your request. Write a concise letter—no more than a page—that clearly states your ask. Explain succinctly why you need the additional financial aid. Be specific about the reasons for the increase in assistance, whether due to unforeseen circumstances or changes in your financial status since submitting the FAFSA.

It’s not just about stating what has changed, but also explaining how these changes have affected your ability to pay for college. Providing context will help the financial aid officer understand your situation better. When mentioning any special circumstances that have prompted your appeal, always remember to include relevant documentation to support your claims. This could be medical bills, job termination notices, or other proof of economic hardship.

Clearly state the amount of financial aid you are requesting. Do not leave it open-ended; providing an exact number shows that you’ve done the math and are aware of how much support you truly need. This level of detail illustrates a well-thought-out request and showcases your commitment to finding a solution that works for you and the institution.

Key points to include in your appeal

In summing up your case for more aid, reiterate that while you’re appreciative of the current offer, it does not fully meet your needs. Highlight any recent academic achievements or community service engagements that might strengthen your request but weren’t included in your initial application. Always maintain a tone of gratefulness and respect throughout.

Finally, before making a submission, double-check that all necessary forms required by the school are completed in full and accompany your appeal letter. This generally includes not only your signed letter but also all supportive documentation neatly organized and labeled. Submitting a complete package demonstrates professionalism and may avoid unnecessary delays.

Communicating with the Financial Aid Office

When reaching out to the financial aid office, it’s important to express your situation clearly and respectfully. You need to be prepared: have all your documents gathered and any numbers pertaining to your family’s financial situation at hand. If you’re setting up a meeting, do so promptly, showing that you’re serious about addressing your financial aid concerns. During your conversations, always remain courteous, as the people on the other end are more inclined to help if they’re treated well. Be direct but polite in discussing your needs and asking for what you believe is fair.

Remember that timing is also key. Engage with the financial aid office soon after receiving your offer and do so well before any deadlines. This gives enough time for reconsideration of your package and also demonstrates that attending their institution is a priority for you. Additionally, keep all correspondences professional: use formal salutations, check for grammatical errors, and maintain a straightforward but amiable tone in both written and verbal communications.

What to expect during the negotiation conversation

You should approach this conversation with realistic expectations. Not all requests will result in increased aid, but entering discussion with a clear understanding of your situation strengthens your position. The officer may ask detailed questions about your finances or why certain expenses cannot be met; be ready to answer these questions with transparency.

Your aim is not just to convey your need but also to show how investing in your education benefits the school. If you excelled in high school or have been active within your community, these are points worth mentioning as they add value to you as a prospective student.

Finally, understand that this may not be a one-and-done conversation. Financial aid officers might need time to review additional information or speak with colleagues before they can give you an answer. Therefore, patience is crucial throughout this process. Keep track of who you spoke with and when so you can follow up accordingly without being overbearing.

Special Circumstances to Consider

If your family’s financial circumstances have changed since you submitted your Free Application for Federal Student Aid (FAFSA), you need to inform the financial aid office promptly. Have documentation ready to substantiate your claim—this can include medical bills, job loss verification, or any other relevant financial information that wasn’t previously reported. It’s critical that you clearly state how these changes affect your ability to contribute to college costs. Be specific and factual about the impact, so there is no ambiguity regarding the need for additional aid.

Addressing special circumstances in your appeal

When you appeal for more financial aid due to special circumstances, concisely identify what those are. This could range from a family member’s serious illness, which leads to increased medical expenses, to a parent’s unemployment. Whatever it may be, explain how this diminishes your financial resources. It’s essential that you communicate effectively, stressing the unforeseen nature of these circumstances.

Your approach should combine personal explanation with objective data. You’re not just sharing your story; you’re making a case for why the standard financial aid assessment doesn’t accurately reflect your current situation. Be prepared for follow-up questions and possibly providing additional documentation.

Remember that your goal is to demonstrate that these circumstances significantly restrict your family’s ability to finance your education—and therefore merit a reassessment of your financial aid package. Keep in mind the importance of being forthright and respectful in these interactions. The financial aid officers are there to help, but they can only do so when they have a complete and honest picture of your needs.

Negotiating Based on Financial Need

When you feel that the FAFSA form doesn’t accurately capture your financial need, it’s important to gather evidence that can paint a clearer picture. Start by reviewing your family’s income and tax information from two years ago—the basis of your initial FAFSA submission. If there’s been a significant change in your financial situation since then, such as a drop in income or an unavoidable increase in expenses, collect documentation that reflects this. Pay stubs, unemployment benefits statements, or notices of unexpected expenses like home repairs are useful.

Next, craft a letter to the financial aid office explaining these developments. Be concise but thorough—detail the specifics of your situation and its impact on your family’s current finances. Connect the dots for them; show how the numbers from two years ago differ starkly from today’s reality. By providing this concrete evidence alongside your explanation, you facilitate a more accurate reassessment of your financial need.

Using the CSS Profile to negotiate your financial aid package

Institutions that require the CSS Profile often delve deeper into family finances than the FAFSA does. If you’ve completed a CSS Profile, use it as another tool in your negotiation arsenal. Highlight any special circumstances or expenses it captures that the FAFSA might not—such as private school tuition for siblings or extended family support obligations.

Your negotiation should stress any relevant discrepancies between the information captured in these forms and what is actually happening now. Remember to include any additional supporting documentation from third parties if relevant. This corroborating evidence strengthens your case for a revised financial aid offer.

Throughout this process, maintain direct and respectful communication with financial aid officers. Your ability to clearly articulate changes and back them up with solid proof is crucial—it allows them to understand your predicament and encourages them to find ways within their policies to possibly accommodate your needs.

What to Do If Deadlines Have Passed

If you’ve missed the FAFSA deadline, don’t panic. You still have potential avenues to explore. Begin by contacting your school’s financial aid office. Explain your situation and ask if they have any resources or alternative forms of aid available. Some schools, like Yale, encourage students to apply for financial aid even after deadlines have lapsed.

Also, be aware that many schools and states may have their own financial aid deadlines that differ from the FAFSA’s. To prevent missing out next time, investigate these specific dates and ensure that you apply well ahead of time. Doing so could make you eligible for additional scholarships and grants that require separate applications.

In the meantime, look into scholarship opportunities outside of your university. Many private organizations offer scholarships throughout the year; these could provide much-needed financial support. Websites like Fastweb and Scholarships.com can help you search for relevant scholarships matched to your profile.

Consider taking a part-time job or paid internship related to your field of study if your schedule allows it. Not only will this provide some income to help with your expenses, but it can also give you valuable experience in your future career field.

Lastly, if possible, meet with a financial advisor or counselor at your school. They might assist you in creating a budget plan to manage your finances efficiently as you navigate through the upcoming semesters without federal aid. Remember, it’s important to stay proactive about looking for alternatives and meeting all subsequent deadlines.

In short, remain resourceful and proactive following a missed FAFSA deadline – options are available if you take immediate action and seek them out earnestly.

 

The Role of Work-Study Programs in Financing Your College Education

Work-Study is an integral part of financial aid for students, offering a way to gain work experience and manage college expenses. This program provides part-time jobs that accommodate academic commitments and often relate to the student’s course of study.

By participating in Work-Study, students earn money for education-related expenses, enhance their resumes with practical skills, and make valuable connections within their fields. The additional income does not count against their financial aid eligibility, making it a beneficial program for those with financial need. Maintaining good academic standing is crucial to continue eligibility for the Work-Study program.

Work-Study Programs

Eligibility Criteria for Work-Study Programs

Who Qualifies for Work-Study Programs?

Federal Work-Study (FWS) is available to both undergraduate and graduate students with demonstrable financial need. The Free Application for Federal Student Aid (FAFSA) determines eligibility eligibility. Early application is advised, as funds are limited and distributed on a first-come, first-served basis.

Key Requirements for Participation in Work-Study

To participate in FWS, students must maintain satisfactory academic progress. The student’s financial need influences the exact award amount, the timing of their application, and the funding capabilities of the institution. The program prioritizes community service roles and positions relevant to the student’s area of study.

Applying for Work-Study

Process of Applying for Work-Study Financial Aid

Students seeking to join the Federal Work-Study program should first file their FAFSA. Post-submission, they must then check their eligibility with their respective college’s financial aid office. If approved, students frequently must find work placements on their own, although some schools assist with job matching.

Tips for a Successful Work-Study Application

Applicants are advised to apply early due to limited funds and to investigate jobs that align with their interests and field of study. They should also maintain adequate academic performance to remain eligible for participation in the work-study program.

Benefits of Work-Study for College Students

– Students can earn money for tuition and educational expenses.

– Reduces reliance on student loans, lowering future debt.

– Payments are usually flexible and accommodate academic schedules.

Career-related Advantages of Work-Study Jobs

– Provides relevant work experience in a field of interest.

– Allows networking opportunities with professionals and peers.

– Enhances the resume for post-graduation job opportunities.

Types of Work-Study Jobs

On-Campus vs. Off-Campus Work-Study Positions

– On-campus jobs often involve working for the university itself.

– Off-campus work-study may partner with non-profit organizations or public agencies.

* Students typically find on-campus positions more convenient.

Different Roles Available in Work-Study Programs

– Job roles can vary from administrative duties to research assistance.

– Some positions might align closely with a student’s academic field.

– Flexibility in job tasks allows for a range of experiences within work-study programs.

Balancing Work-Study and Academic Responsibilities

Students must effectively manage their time to balance academics and work-study jobs. Prioritizing essential tasks and assignments helps in maintaining this balance. The use of planners and calendars can also facilitate better time management, ensuring that students meet both employment and academic deadlines efficiently.

Strategies to Manage Academic Load with Work-Study

Careful selection of work hours and job types is crucial for maintaining academic performance. Seeking jobs with flexible hours or those that complement academic schedules can be helpful. Additionally, utilizing campus resources like tutoring and counseling services offers support in managing coursework alongside work commitments.

Work-Study Programs and Student Loans

Work-study programs offer a strategic way to offset college costs. Students can earn money during their academic years by providing part-time employment, potentially reducing the amount they need to borrow through student loans. This proactive approach to financing education helps students minimize post-graduation debt burdens and fosters a sense of financial responsibility early on.

Comparing Work-Study Earnings to Student Loan Debt

To comprehend the financial difference work-study makes, consider student loan debt upon graduation. Students participating in work-study often emerge with lower debts compared to peers who solely relied on loans. The work-study earnings, which are not included in the student’s total income for the following school years, serve as an effective tool to limit borrowing, providing them a head start in financial stability post-graduation.

 

The Benefits of On-Campus vs. Off-Campus Jobs

On-campus and off-campus jobs provide students with valuable opportunities to gain work experience and earn money while pursuing their education. However, there are differences between the two options that can impact a student’s experience.

This article will explore the benefits of on-campus and off-campus jobs, helping students make informed decisions about their employment choices

The Benefits of On-Campus vs. Off-Campus Jobs

Benefits of On-Campus vs. Off-Campus Jobs

On-Campus Jobs:

  1. Convenience: One of the main benefits of on-campus jobs is their convenience. Since these jobs are located on campus, students can easily walk to their workplace, saving time and transportation costs. This can be particularly advantageous for students who have busy schedules or limited access to transportation.
  2. Flexibility: On-campus jobs often offer more flexible schedules that can accommodate students’ class schedules. Employers at universities understand the importance of education and are often willing to work around students’ academic commitments. This flexibility allows students to prioritize their studies while still earning an income.
  3. Networking: Working on campus provides students with valuable networking opportunities. They can interact with faculty, staff, and other students, building relationships that can lead to future career opportunities. Additionally, on-campus jobs may provide access to career development resources and workshops that can enhance students’ professional growth.

Off-Campus Jobs:

  1. Professional Experience: Off-campus jobs often provide students with valuable real-world work experience. These jobs can be in various industries, allowing students to explore their career interests and gain practical skills that can be applied in future job roles. Employers highly value this experience and can make students more competitive in the job market after graduation.
  2. Networking Outside of Campus: Off-campus jobs allow students to network with professionals in their chosen field. This can help expand their professional connections and potentially lead to internships or job opportunities in the future. Additionally, working in different environments allows students to gain exposure to different work cultures and practices, broadening their perspectives.
  3. Financial Independence: Off-campus jobs often offer higher wages compared to on-campus jobs. This can give students a sense of financial independence and the ability to cover their expenses more comfortably. This financial stability can reduce stress and allow students to focus more on their studies.

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On-Campus Jobs

When it comes to finding employment while in college, students have the option of choosing between on-campus and off-campus jobs. Both options have their advantages and drawbacks, but in this article, we will focus on the benefits of on-campus jobs.

1. Flexibility and Convenience

One of the major advantages of on-campus jobs is the flexibility they offer. Since these jobs are located right on campus, students have the convenience of being able to work close to their classes and other academic activities. This makes it easier to manage their schedule and reduces the time and effort required for commuting. Furthermore, on-campus jobs are often designed to accommodate students’ academic commitments, providing flexible working hours that can be adjusted to fit their class schedule.

2. Networking Opportunities

Another significant benefit of on-campus jobs is the networking opportunities they provide. Working on campus allows students to interact with faculty members, staff, and fellow students regularly, providing them with valuable connections. These connections can be beneficial when seeking recommendations, internships, or future job opportunities. Additionally, on-campus jobs often allow students to engage in projects and activities that foster teamwork, leadership development, and professional growth.

3. Familiar Environment and Support

On-campus jobs offer the advantage of a familiar environment and support system. Students who work on campus often feel more comfortable in their work setting as they are already familiar with the campus, its resources, and the culture. This familiarity can lead to increased job satisfaction and productivity. Moreover, on-campus employers often understand student life’s demands and provide support systems to help students balance their academic and work responsibilities.

Off-Campus Jobs

1. Professional Development

One of the key benefits of working off-campus is the opportunity for professional development. Off-campus jobs often provide a more realistic work environment, allowing individuals to gain valuable skills and experience that can help them in their future careers. These jobs may offer specialized training programs, mentorship opportunities, and the chance to work with professionals in their field of interest. By working off-campus, individuals can enhance their resume and build a strong foundation for their professional journey.

2. Higher Pay and Benefits

Another advantage of off-campus jobs is the potential for higher pay and benefits. Jobs in the private sector or industries with higher demand and competition often offer more competitive salaries and benefits packages than on-campus positions. This can be particularly attractive for students who are looking to support themselves financially or pay for their education expenses. Additionally, off-campus jobs may provide perks such as healthcare benefits, retirement plans, and paid time off, contributing to a more stable and satisfying work experience.

3. Diverse Work Experience

Working off-campus can provide individuals with a diverse range of work experiences. Off-campus jobs can be found in various industries and sectors, allowing individuals to explore different career paths and gain a broader understanding of the professional world. This exposure to different work environments and responsibilities can help individuals discover their strengths and interests and make more informed decisions about their future career goals. By diversifying their work experience, individuals can also enhance their adaptability and flexibility, making them more marketable in the job market.

Factors to Consider

Several factors need to be considered when deciding between on-campus and off-campus jobs. Each option offers its own benefits and drawbacks, and understanding these can help individuals make an informed decision that aligns with their needs and goals. Here are three key factors to consider when weighing the benefits of on-campus versus off-campus jobs.

1. Time Commitment

One significant factor to consider is the time commitment required for each type of job. On-campus jobs often offer greater flexibility in terms of working hours. Students can find positions that accommodate their class schedules, allowing them to balance their academic workload. Additionally, on-campus job locations are typically within close proximity to classrooms and dormitories, minimizing commuting time.

On the other hand, off-campus jobs may require individuals to dedicate more time and effort due to longer commute times. This can be a disadvantage, particularly for students who wish to prioritize their studies. Furthermore, off-campus jobs may have fixed working hours that may clash with class schedules, creating potential conflicts.

2. Financial Considerations

Financial considerations are crucial in deciding between on-campus and off-campus jobs. On-campus jobs often offer competitive pay rates, and the earnings can be applied directly to tuition fees or other educational expenses. Some on-campus positions even provide additional benefits, such as free or reduced-cost housing and meal plans, which can significantly reduce living expenses.

On the other hand, off-campus jobs may offer higher pay rates, especially in certain industries or sectors. However, individuals must account for transportation costs, potentially higher rents, and other expenses that come with living off-campus. It is important to carefully evaluate the financial implications of both options and determine which one aligns better with one’s financial goals and obligations.

3. Career Goals

Considering long-term career goals is essential when deciding between on-campus and off-campus jobs. On-campus jobs can provide valuable opportunities to gain experience and develop skills directly related to one’s field of study. Working within a university setting can also provide networking opportunities with professors, administrators, and fellow students who may be valuable connections.

Alternatively, off-campus jobs may offer exposure to different industries and work environments. These experiences can broaden one’s skill set and provide insights into various career paths. Off-campus jobs may also allow individuals to build a professional network outside of the university, which can be advantageous when seeking post-graduation employment.

Frequently Asked Questions

Can I work both on-campus and off-campus?

Students can work on-campus and off-campus jobs if they manage their time effectively. It is important to prioritize academic commitments and ensure that work responsibilities do not interfere with coursework.

Can I switch from an on-campus job to an off-campus job?

Yes, students can switch from an on-campus job to an off-campus job or vice versa. Communicating with employers and providing sufficient notice when making such transitions is essential.

Which option is better for gaining work experience?

Both on-campus and off-campus jobs offer valuable work experience. On-campus jobs provide opportunities to gain experience directly related to a student’s academic field, while off-campus jobs may expose students to different industries and work environments.

How do I find on-campus or off-campus job opportunities?

For on-campus jobs, students can check with their college or university’s career services office, visit job boards specifically for campus employment, or inquire at various departments within the institution. Off-campus job opportunities can be found through online job search platforms, local businesses, or professional networking events.

Conclusion

Whether students choose on-campus or off-campus jobs, they can benefit from gaining work experience, developing new skills, and earning income. On-campus jobs offer flexibility and convenience, while off-campus jobs provide opportunities for networking and diverse experiences.

Ultimately, the decision depends on a student’s personal circumstances, career goals, and priorities. It is important to carefully consider the advantages of both options to make an informed decision that aligns with individual needs and aspirations.

The Pros and Cons of Work-Study Programs

Pros and Cons of Work-Study Programs

Work-study programs allow students to work part-time jobs while pursuing their studies. These jobs, typically available to both undergraduate and graduate students with financial needs, can be on or off-campus and are often related to a student’s field of study​.

However, like any program, some pros and cons need to be considered.

What is a Work-Study Program?

Federal Work-Study is a financial aid program that needs to be applied for when filling out your financial aid application. It provides part-time jobs for students who demonstrate financial need. These jobs typically involve working with the public or are loosely related to a student’s course of study. In addition to on-campus work-study jobs, off-campus jobs are often available with local businesses subsidized by your school.

The Benefits of Work-Study

Work-study programs offer several potential advantages.

Gaining Experience in Your Field

Most colleges aim to match students with work-study jobs that align with their chosen course of study, providing an opportunity for real-world experience in the student’s field of study.

Flexibility

Work-study programs understand that students have academic commitments. Therefore, most work-study jobs offer flexibility in hours and work around your class schedule.

Less Competition

As work-study jobs are only offered to students who qualify, the potential pool of applicants is considerably smaller than the jobs a student might apply for off-campus, leading to less competition amongst potential job candidates.

Financial Relief

Work-study jobs provide extra cash that you can put aside towards paying tuition costs, potentially allowing you to take out fewer college loans and accumulate less debt in the long run.

Impact on Financial Aid

Earnings from work-study do not count on your FAFSA, which can potentially maintain or increase the amount of financial aid you are eligible for, unlike earnings from a part-time job off-campus.

Convenient Locations

Most work-study jobs are located directly on campus, saving students a significant amount of time commuting over the course of a semester​.

The Drawbacks of Work-Study

Despite the benefits, there are some drawbacks to work-study programs.

Low Wages

Most work-study jobs only pay minimum wage, which may not be enough to support recreational activities or educational expenses, particularly given that work-study jobs may ask students to handle more complicated tasks compared to other low-paying jobs.

Limited Hours

Work-study jobs typically have a strict maximum number of hours students may work in a week, which, coupled with low wages, can result in a paycheck that fails to offset the added burden work-study can bring​.

Time Constraints

Engaging in work-study can take time away from studying, impacting your academic performance if not managed effectively​.

Demographics of Work-Study Students

As of 2021, over 289,022 work-study students are currently employed in the United States. Of this, 66.6% of all work-study students were women, while 33.4% were men. The average age of an employed work study student was 47 years old. The most common ethnicity of work study students was White (57.2%), followed by Hispanic or Latino (17.6%), Black or African American (11.3%), and Asian (8.2%)​​.

Benefits of Paying Off Student Loans Early

Benefits of Paying Off Student Loans Early

There are different reasons students collect loans and that’s not a bad idea. The challenge only arises when it is time to pay back. There is a major conflict between whether to pay back now (all at once), little by little, or to pay the entire thing later. However, the choice is not that straightforward. For example, some financial advisors will opine that students should hold back on payment if they don’t have enough saved up or if there are other debts involved. However, this article will show you some important benefits you’ll gather if you close your eyes and pay off your student loan early.

Why You Should Pay Off Student Loan Early

  1. The earlier you pay, the cheaper it is:

Yes, it might look like that $$$ is a little thick at the moment but the sad truth is that it increases over time. For those that might seem confused, this is how it works. A student loan – almost all loan types come with a percentage increase referred to as interest. This interest accrues with a balance (positive or negative). When you owe, it increases with a negative balance and vices versa for when you don’t owe. So the earlier you pay, the easier it would be to pay off the interest too.

  1. It will quickly be out of the list of things to do:

This is a little more straightforward. When you pay off a debt, you’ll have lesser things to worry about. You will also be able to place your money on other more profitable investments like college (or if you are already in college), a university of your choice, a master’s, or even something out of the academic line like a vacation.

  1. Your debt-to-income ratio will improve positively:

A debt-to-income ratio can also be seen as a credit score or ‘improving/worsening your credit’. When you have a good credit score, it means that you have a good history of paying off your debts quickly. This means that lenders (or whatever institution loan money) trust you and would be happy to give you better interest rates next time you need to loan. Having a bad credit score (or increased debt-to-income ratio) means that you usually allow the interest to accumulate too long before paying and so lenders find it hard to trust you with honoring your loan agreement. In the long term, a good credit score will serve you.

  1. You would save more money:

Similar to the first point, when you get rid of student loans on time, you end up saving more money. This is a common mistake students make – they wait till the end of the repayment term before they start making repayments. By this time, not only would you have accumulated too many interest charges, but you’ll also lose a lot of money. But by paying off early (or increasing how much to pay off monthly), you can save hundreds or even thousands in interest charges that you can (again) use for other things.

  1. Financial stress will be eradicated or lessened:

What is financial stress? It’s when the source of your anxiety is lack or insufficiency of money/finances. Waiting till the last moment to pay off your student loan will put financial stress on you no matter how financially stable you are/were before then. It is usually a debt that starts small and ‘payable’ until the interests pile up over time to become this huge debt that’s a pain in the neck. Paying it off while it’s still young will save you financial stress in the future.

Conclusion

Though at first, it might be difficult to pay off loans due to the thoughts that ‘the money isn’t enough or that there are other investments. But one of the worst mistakes to make with debt is thinking that the debt can wait. Yes, it will wait but at the same time, interest charges are accruing waiting for when it will shower you with big-time financial stress. Save yourself the hassle and pay it off while it’s still cheap. You can start slowly as soon as possible and before you know it, it’s all paid off. Good luck!

What is a Tuition Waiver?

What is a Tuition Waiver

Not everyone can afford to go to college. Some have to apply for financial aid to get through college. Tuition waiver is one option available to students that desperately want to further their education and lack enough funds. 

However, getting a tuition waiver largely depends greatly on what is available to you, your qualifications, and if your school offers the scholarship option.

What is a Tuition Waiver?

A wavier should not be confused with a student loan. It is a program that allows a student to pay only a portion of his/her tuition or not to pay at all. They are issued only for a certain period; therefore, the student has to re-apply every semester that he/she would like the tuition waived. 

Tuition waivers are beneficial for those that can’t afford to pay the college tuition fee. However, not all colleges grant waivers, so you have to research the colleges that offer tuition waivers to students. And because a tuition waiver covers only tuition, students that live close to the institution, can work while at school, or have relatives close by can benefit from this program. 

Difference Between A Scholarship And A Tuition Waiver

Both scholarship and a tuition waiver are financial aid packages offered to students to further their education. It is possible for a student to be awarded both programs or to run both programs simultaneously. And even though they might seem alike, they are not entirely the same. 

A scholarship can also be termed free money, and it doesn’t have to be paid back to the institution. Scholarships offer the benefits to pay tuition fees with other college expenses such as accommodation, school supplies, and maybe feeding. Besides, colleges, NGOs, and states can offer scholarships to students. 

The requirement for each type of scholarship depends on who is offering it. For example, state scholarships usually require the student to be a resident/native of the state. Other scholarships might require the student’s accomplishment of some sort- an outstanding academic performance or talent.

A tuition waiver is offered by a chosen college that provides such benefits. When a student qualifies, the college reduces or pays the full tuition fee for the student. The waiver only affects the tuition fee for some credit hours, and it needs to be re-applied after every session. 

The disadvantage of this is that it does not cover any other educational expense. There are also qualifications that a student must meet to qualify for a tuition waiver. Some include being an American by birth, having encountered a significant hardship, being adopted or a foster child. 

Qualifications for Tuition Waivers

Not every college offers tuition waivers, and they are definitely not for every student. Some criteria make a student eligible for a tuition waiver. Some of these factors include the following. He/she:

  • Is or was a foster child.
  • Has served or fought as a soldier/sailor in a war.
  • Is a spouse or a dependent on a veteran.
  • Is a native of America.
  • Is a non-traditional (older) student.
  • Have financial hardship (or any other sort of hardship).
  • Is a full-time employee of the college.
  • Is enrolled in a STEM Degree Program.
  • Has a high or attractive academic status in the previous institution such as class valedictorian etc.
  • Attended an automatic scholarship school.

These are the common eligibility factors that would qualify a student for a tuition waiver. However, it is best to know the requirements before applying for the waiver. 

How To Apply For A Tuition Waiver

Usually, a college offers a waiver automatically based on the information provided by each student in the school’s application. However, it is not always this seamless. Students would have to follow the process to ensure that the waiver has been approved and granted. The students can visit the department in charge for a follow-up. 

The department you’ll be checking in may differ depending on the qualification of the student. An employee of the school might visit the school’s employment office for a waiver, while an American (who is not employed by the institution) would visit the admissions office instead. 

However, if you don’t get an automatic grant (and you qualify), you can apply through the school’s admission office or directly online. Sometimes, the student might be required to write a letter requesting a tuition waiver. Sometimes, the student might be required to write a letter asking for a tuition waiver. 

If you are planning on visiting the office, it’s best to inquire before applying to be well-aware of what is being offered. Different schools have different procedures; it is better to understand what your school demands. 

Conclusion

If you sincerely need financial aid to enter college, you should look into requesting a tuition waiver. You might have your tuition fee disappear for a whole session. Just ensure that you qualify by looking at the eligibility factors for a waiver, and the rest will be sorted out for you. 

The Best “At Home” Jobs For Students Who Don’t Want COVID Exposure

Best “At Home” jobs For Students

For half of us, working from home is ideal. Whether this is because you’re an unsociable person or because working in retail just isn’t worth the risk of COVID, self-sufficiency is important. The reality of getting a job during a pandemic and economic instability isn’t great, but the outlook on working from home is actually looking up.

Here are the 10 best jobs you can do from home this summer:

1.   Tutoring

With schools being closed, many parents will be looking to home-school their children. To keep them brushed up on their Maths, Economics or whatever it may be, paying a tutor for online classes is their go-to option right now. Or, if you’re looking to teach English, parents in China pay a very handsome sum – but beware, the hours are odd.

2.   Content Writer

There’s always content to be written, no matter the political or sociological climate. The beauty of content writing is that it can be for any student, no matter what they’re studying. Your best bet is to try and get started on Upwork, and then contact businesses and outlets directly after having built up a portfolio.

3.   Customer Service

Given that most businesses have turned to working from home, even more customer interaction is done online at the moment. This is why there are so many opportunities to work in online customer service, such as answering customers on the Live Chat, or on emails or even social media. Pay usually isn’t very high, but then the work isn’t very hard…

4.   Video Editor

If you have great video editing skills or animation experience, then freelance work is a great option. This market is only growing, particularly because social media (Youtube in particular) is being watched even more due to lockdown. There are lots of medium-sized channels out there looking for extra editing support, and pay a fair amount.

5.   Programming and IT

Programming is an extremely general term, but it’s included because the opportunities are also a wide net. Money will be made from whatever you’re good at. Backend developers and database engineers will get better money and have less competition than front end, but you’re best off checking for yourself. Type the language or software that you’re an expert in to Fiverr or Upwork and see what kind, how many, and what pay the job posts that arise are.

6.   Virtual Assistant

There are a lot of virtual Assistant jobs online, and all you need for them is some general, basic IT skills as well as good soft skills. You’ll often get at least the US minimum wage for sending emails, data entry and other basic admin tasks.

7.   Translation work

If you’re fluent in two or more languages, then you’re almost guaranteed to be able to find some translation work. The pay can vary, but this is a good way to keep on top of your writing or speaking skills in both languages. Plus, if you’re fast at reading and typing, you can earn good money. If you’re not bilingual, you can still make money transcribing English audio. You have to be a fast and accurate touch typist, but you can easily make $20 per hour.

8.   Start a website and create a brand

If you’re able to do almost any of the above, or perhaps you’re just looking to start a blog, then creating a website and branding it is a fantastic use of time. It doesn’t matter if you’re trying to sell writing services, photographs, programming, tutoring… Building up a following on social media and developing a website will be an exercise in SEO, branding, and many other skills that will look great on your CV — and maybe you can start monetizing it within a few months.

9.   Drop Serving

If you’re entrepreneurially inclined, there’s certainly some opportunities in dropshipping. It’s like Drop Shipping, only not with physical products. So, when you receive payment on your website for services, such as web building or graphic design, you outsource the work to someone else — so you’re just the middleman. It takes some time setting up, but it can scale much larger than the other options.

10. Rent out what you’re not using

Okay, so this is only one that isn’t a “job” per se, but it’s a good money-making opportunity. There’s plenty of things that Coronavirus has put an abrupt end to, and these are the things you could be renting out. For example, public transports have been mostly put on hold, and you’re likely not using your car much right now — so why not rent it out? Likewise, you can also rent out your parking space too.

At the end of the day, it will heavily depend on what skills you have and what you’re studying for. The best paid jobs will be skill-specific, so you’re best off leveraging what you’re studying for and try to work freelance (i.e. web developer, bookkeeper, graphic designer, and so on).

12 Interesting College Scholarship and Grants in the USA

The US has a notorious reputation when it comes to student debt. Without getting into whether college education should be free, cheaper or entirely nationalized, it’s important to recognize that there is still some help out there for students. This article will cover some of the best college scholarships and grants in the USA.

Before starting though, it’s important to distinguish that there is merit-based aid and need-based aid, as well as aid for women, career-specific and college-specific aid, and finally aid for minorities. As evident by their self-described titles, let’s not go into defining each one but instead see what ones actually exist (and that can be of great help!).

Pell Grants

Pell Grants are a huge help for many American students. They’re a classic example of need-based, as they target students who have a total family income of below $25,000. Despite this, it’s worth looking into even if your situation is slightly outside of this, as you may still qualify. The grant in 2018 was just shy of $6,000, which is a very helpful amount.

Society of Women Engineers

The Society of Women Engineers is aimed at increasing the number of women in engineering, a STEM subject, that has historically been underrepresented by females. In a bid for greater equality, the society awarded 230 scholarships in 2016, adding up to $750,000 in total funding.

Center for Women in Technology

This one serves a similar purpose and is certainly worth looking into when looking to study technology as a woman. An application could receive between $5,000 and $20,000 in funding, each year, for a total of four years. This can be life-changing, allowing more women the opportunity to afford college and acquire a STEM subject degree for the sake of their career.

ABA Diversity Scholarship

The ABA Diversity Scholarship is aimed at those coming from a traditionally underrepresented group, who are in the management and transportation/tourism industry. Candidates can receive $5,000 in scholarship funding, but must have completed their first year and have a GPA of over 3.0. Applications involve a 500-word essay, which will describe how they will play a role in spearheading the future of transportation, travel or tourism industry.

Amazon scholarship program

Online retail behemoth Amazon are taking in applications for its Future Engineer Scholarship Program. 100 current seniors at high school will have the opportunity to receive $40,000 to study computer science. This student will also receive a guaranteed paid internship at Amazon after completing their first year. Not only is this a great amount of money, but the student is then given a foot in the door at Amazon – a chance to build a relationship from the offset.

eQuality Scholarship

The eQuality scholarship collaborative awards are designed to encourage Californian students who are included in the lesbian, gay, bisexual, transgender community of LGBT. The scholarship is of $6,000, and is open to applications of all sexual orientations and gender identities. 

John Lennon Scholarships

And the award for the most rock star scholarship goes to the John Lennon one, which aims to provide the three winners of a songwriting and composing contest who submit the best original song. Each of the three winners will get $20,000 each, and the applicant must be between 17 and 24. The submitted song must have no rights at publishers.

BSU Letterman Telecommunications Scholarship

Likewise, there’s also a David Letterman scholarship. Letterman has been behind this Scholarship program since the mid-1980s, when he deposited $90,000 in the Ball State Foundation. This scholarship aims to support Ball State majors in telecommunications. Applicants must have between 30 and 105 semester hours, be full time and be a Ball State telecommunications major.

Augustana College Athletic Fund

This athletic fund is merely representative of the many individual college scholarships that are aimed at providing financial support to students who perform exceptionally well in a sport. This particular one, students must be enrolled at Augustana College and average at least a 3.0 GPA. Outstanding athletes will be considered to receive funding, which can vary in its amount on a case-by-case basis.

Mike Lozano Scholarship

This fund was established in 2013 by the family of Coach Lozano. The annual scholarship (students can receive $2,500) is given to an athlete from the northern 26 counties in the Texas Panhandle. A lower than usual GPA is needed (2.0) and they must be pursuing a career in education or coaching.

Foot Locker Foundation

Foot Locker, for 9 years in a row is offering a $20,000 scholarship funding opportunity for when pursuing a 4-year degree. This is a very transactional scholarship, with Foot Locker appreciating the custom of college sports in helping them grow as a company. One of the 20 winners will also receive a $5,000 in addition to the 20k, for outstanding educational achievement.

ScholarshipPoints $10,000 Scholarship

For many, the fierce competition and high expectations of educational achievement (and thereby being awarded scholarships) is all too much. ScholarshipPoints are offering a break from this pressure with their scholarship. $10,000 can be one for a lucky winner, which is merely signing up and entering. There’s no 500-word essay about your aspirations and no GPA requirements. Sheer luck and a bit of fun makes this an interesting and no-lose opportunity.

Is there a lack of funding?

This list only scratches the surface. There are tons of scholarships out there. What you may have noticed though is that these all seem to be private foundations. Nothing wrong with that, transactional (or sheer charitable) private work is one of the great shining lights of society. 

It is, however, a concern surrounding the lack of US government funding though. There’s always room for debate around equality and “socialist funding”, but one thing that is usually commonly accepted is the phrase “equality of opportunity”. So long as everyone has the chance to succeed. Only, they don’t, because college is extremely expensive. The US government needs to really keep up with the increasing amount of college students, and the increasing importance of acquiring a degree in this future “intelligence economy”, where programming, math, and critical thinking will become even more relied upon.

Funding education is the ultimate supply-side policy. It’s not the policy that wins you elections, and it doesn’t fit results quick enough to fit within the 4-year term results paradigm, but it is necessary for the future economy of the US.

30 collectibles you may have at home and cash out quickly

Do you have an unexpected bill you need to pay, and fast? Take a dig throughout your attic – heirlooms and collectibles you’ve been hanging on to for decades could be worth more than you think.

If you get lucky, some may make you a small fortune? Which items should you keep your eyes peeled for? Below, we’ll list 30 collectibles that you can convert into cash, be it online or down at the pawn shop.

(1) Sports cards

Do you have binders filled with baseball cards rammed away in the corner of your attic? Check them – they could be traded for thousands of dollars.

The average card in ‘excellent condition’ from the 1970s trades for about $10-$20. Multiply that by hundreds of cards, and you could have a tidy sum on your hands. And if your Dad gifted you cards from his era? You could strike it big!

(2) Pokemon cards and Magic The Gathering

Sports cards aren’t the only collectible cards worth mad money. Some Pokemon cards are in short supply – Machamps from the 1st edition run in 1999 are worth 1,000 USD. Have you got a 1st edition Shadowless Charizard? 3,000 USD is the market rate. Magic: The Gathering has even a bigger market, especially for graded mint MTG cards.

And if you somehow have one of the five Pikachu Illustrators in existence, accept no less than 100,000 USD for it.  

(3) Books

If you inherited a bunch of dusty, old books from your parent’s estate, take a closer look at them. Limited first printings of certain books can be worth radically more than later printings. For instance, Casino Royale, the first James Bond novel by Ian Fleming, had a first edition of 4,700 copies.

If its dust jacket is in good shape, you can flip it for 40,000 USD. If it’s in mint shape, you have a 130,000 USD novel on your hands.

(4) Coins

A popular collectible, it can be hard to make money even on older coins. For example, you’ll be lucky to get 10 USD for a circulated dime from 1916.

However, runs of coins with mistakes can be worth dramatically more, thanks to their rarity. Double dies, broadstrikes, and coins struck with the wrong design can be worth hundreds, even thousands of dollars.

(5) Video games

We don’t mean to make Gen Xers feel old, but – the games you played as kids could now be worth serious cash. If you have a copy of Sonic the Hedgehog that’s in good condition, that’s 400 USD right there.

Remember working up a sweat playing Stadium Events? If so, you might want to check the floor pad it came with. If it is called the ‘Bandi Family Fun Fitness’ pad rather than the Power Pad, you have a 1,000 USD game on your hands.

(6) Vinyl records

Vinyl is enjoying a resurgence lately. As such, the value of rare, collectible records is on the rise. For example, the 1st pressing of Buddy Holly’s “That’ll Be The Day” is worth 1,000 USD in good condition.

Did you get a hold of Nirvana’s first album, Bleach, back in the day? If it’s the red and white marbled and in mint condition, it will fetch you 3,200 USD.

(7) Musical instruments

Did your Dad pass down his old Fender Strat to you when you were a teenager? If it’s in good condition, it could be worth a considerable sum. 1970 Strats can be worth over 6,000 USD, but if it’s from 1954 and in great shape, you could get over 20,000 USD for it.

(8) Musical memorabilia

Did you come into possession of a Kurt Cobain-penned setlist, signed by him and the band? This piece of memorabilia and others like it could be worth big bucks. A bidding war over a Nirvana setlist at Bonham’s Auction House in Glasgow produced a €7,000 payday for the establishment.

(9) Comics

Those animated adventures you immersed yourself into as a child could now make your money problems go away. The earlier in the series a comic is, the better. If you’re lucky enough to have a #1 for a popular series, have a seat – it could be worth anywhere from 84,000 USD to 440,000 USD.    

(10) Action figures

Got your comic book/movie heroes in action figure form? If you never took them out of the box, you could be in for a big payday. A 1978 Luke Skywalker could be worth more than 25,000 USD in its original box.

(11) Vintage branded signs

Did you pick up some old-looking Coca-Cola signs for your basement at a flea market recently? Look closer – if it’s a porcelain enamel sign – it could be worth hundreds or even thousands of dollars, dependant on condition.

(12) China (flatware)


You inherited fine china from your wife’s parents estate, but you’ve never used it. Depending on its age and style, though, it could fetch you a tidy sum. If it hails from England, the odds of having valuable plates increases considerably.  

(13) Perfume bottles

After poking around the attic, you came across a collection of shapely, colorful bottles. These are likely perfume bottles – take them to an appraiser. If they came from Europe, circa 19th century, you could have some valuable antiques in your possession.

(14) VHS movies

No, this entry isn’t a joke – some VHS movies actually have collector value. For instance, an excellent condition ‘Land Before Time’ VHS tape can fetch 150 USD on eBay.

Additionally, check any old Disney movies you have for a ‘Black Diamond.’ These icons signify limited-edition Disney tapes that can sell for more than 10,000 USD on eBay.

(15) Typewriters

Remember life before Microsoft Word? It wasn’t that long ago that we banged out school reports on typewriters. In the last generation, machines in good condition have gotten rare, fast. These days, you could get a hundred bucks for a 50-year-old unit in average condition.

If your parents moved to America from overseas, however, their European units could fetch you hundreds or even thousands of dollars.   

(16) Christmas ornaments

If you’re like us, your attic is probably overflowing with Christmas ornaments. Next season, take a look at them with a more critical eye. If you received some hand-me-down pieces from your parents, they could be worth 5 USD to 250 USD – each.

(17) Art

This entry is one of the more stereotypical items on this list. However, due to the sheer volume of art floating around, don’t expect to score a huge sum per piece. That said, if it’s an original, its value will increase significantly in the eyes of an appraiser.  

(18) Dolls

As a child, you loved dolls — a lot. So, your parents bought you some collectibles to decorate your room. Now’s the time to examine them closely to see if they have collector value. If the maker crafted them before they were ‘mass produced’ in the 1980s, they likely have some value. Depending on condition and rarity, you could get between 5 USD to 2,000 USD+ per piece.

(19) Old Apple computers

The power of our smartphones outdoes that of 1980s computers by several thousand times. However, the nostalgia of having an operating old-school Macintosh has led collectors to pay thousands of dollars for them. If you got an old unit gathering dust in your basement, turn that baby into cold, hard, cash.

(20) Stamps

Another standby of collectors, generations of families has passed down stamp collections. If you found one in your attic, each stamp contained therein could be worth a buck each. It doesn’t sound like a lot, but it adds up. Truly rare pieces can be worth dozens or hundreds of dollars.

(21) Movie props

Got a wacky item in storage? There’s a chance someone in your family worked as an extra on a film shoot and was gifted a movie prop. If it has identifying marks that can trace it back to a production, it could be worth anywhere from hundreds to millions of dollars.

(22) Board games

Often, game nights were the best nights spent together as a family. If you still have a generations-old edition of Monopoly kicking around, it could be worth between 300 to 900 USD.   

(23) Assorted sports memorabilia

From game-worn jerseys to historic balls/pucks, sports memorabilia has more than sentimental value. If it came with a certificate of authenticity, it could sell for well into the thousands of dollars.

(24) Watches

Watches are another item commonly passed down between generations. If it is a name-brand watch that has a pedigree going back decades or centuries, chances are you’ll get at least four figures.

If it is in marvelous condition, a five-figure payday isn’t out of the question. Just don’t tell the in-laws you sold it.

(25) Movie posters

You grew up in a family of movie buffs. Finding a collection of finely-preserved movie posters only brought fond memories flooding back. If some of these are in demand, though, your bank account could get flooded with green.

Case in point: The Dark Knight advance poster sold for 20 USD new, but now goes for 300 USD, thanks to Heath Ledger’s untimely demise before its release.   

(26) Lego sets

They do more than hurt your feet early in the morning – if you have certain unopened Lego sets, they can fetch a handsome price. For instance, the Star Wars Y-Wing Attack Starfighter edition now sells for 1,150 USD online.

(27) Military memorabilia

Some families would never dream of parting with military medals passed down by older generations. You can’t sell these – a law passed in 2005 prohibits it. However, other military/wartime items, like propaganda posters, helmets, and swords, all have real value.

Prices range from a couple hundred to tens of thousands of dollars. Before throwing them online, take them to an appraiser, so you don’t get hosed.  

(28) Furniture

In some families, pieces of antique furniture have passed from one household to another for generations. Here, you’ll need to do some research: note patterns and other design elements; take pictures; compare them against known styles of furniture your parents/grandparents/great-grandparents would have bought.

By doing this, you’ll give your appraiser all the info needed to make their job easier. Depending on their condition, it could be worthless – or many thousands of dollars.

(29) Vintage fashion

Still have the vintage Chanel dress your Mom gave you on your wedding day? If the tag is intact and the piece itself is in good condition, it could get you a great price. Some sites list sale prices well over 2,000 USD, but see an expert before getting too excited.

(30) Maps

Ever since we started exploring the Seven Seas, we’ve been making maps. You’re unlikely to find maps from the era of Captain Cook in your attic. However, if you have one in excellent shape that dates from the early 20th century or before, you could easily get a few hundred dollars for it.

How to Make Money with eBay When You Are in College

It has become more popular than ever before to have a “side hustle” while in college to cover day-to-day expenses or future investments. The reason for this is many students are trying to avoid piling up on student loans or are trying to fund their own start up entrepreneurial adventures. It is wise to carefully consider how to make additional money while in college. One such option to make additional income is to sell items on eBay. That said, it is quite complicated for many sellers to get started with selling on eBay due to so many established sellers and complicated setup procedures. In order to learn more about how to make extra money on e-Bay while you are in college, consider the information below:

How Can a Student Make Money Using eBay?

It is very important for students to have a clear strategy when they are trying to make money on eBay. Doing your homework will absolutely pay off when it comes to making money on eBay. The first idea is to see what older items you have that you would like to sell. Then, it is wise to take a look at what those items are selling for and how sellers in eBay are currently listing them. When setting up your auction, it is important to have it end when your buyers are online, which means having it end on weekends and not during the middle of the night. When considering your first price, it is best to list it at $0.99 and then to have a reserve price. This will get your item more views and if it does not sell for what you want, you still can list it again. Take very clear pictures of what you are trying to sell so your buyers will gain your trust. On your first few sales, make sure you ship quickly and that your item is exactly as it is described. This will help you to build your feedback score to remain competitive amongst buyers.

Top Student eBay Success Stories

People are quickly realizing that it is quite easy to sell items on eBay for a profit. One such example is former student Nicolaus Wolfrum who decided to sell used and remanufactured inventory from his father’s automotive machine shop in addition to new inventory that the machine’s shop providers would provide. Due to the success of Wolfrum’s eBay store, he was able to focus on his studies and have a way to afford his expenses in college while making a decent profit on the side. As a result of Wolfrum’s incredible success, he was selected as a finalist in the Young Entrepreneur category at the eBay SHINE Awards for Small Businesses. Wolfrum is a great example of someone who found an unexpected revenue niche while in college and may have even found his career as a result of starting a business on eBay while in college.  

How Much Time & Money Should You Invest on eBay?

What is important to understand about selling on eBay is that it does cost money to list items. It also costs money to have perks on your listing. What you have to weigh is whether the projected selling price of the item is worth the listing fees and PayPal fees required to complete the sales transaction. Generally, you should budget 20-30% of the selling price to eBay in fees. In terms of timing, using eBay’s App is faster to list items. Investing time and money on eBay sales absolutely is worthwhile while you are in college. Consider giving eBay 15-20% of your time to generate a nice little side revenue stream while in college.

Concluding Remarks on the Subject

Selling on eBay provides many opportunities for college students to earn extra capital while in school. If students sell their old items or use extra income they have to invest in stock to sell on eBay, they may be able to build a sizeable business on eBay that goes beyond covering expenses while in university. The key that each college student has to consider is which kind of items they are able to sell that they have either a passion for or an expertise in. In Nicolaus Wolfrum’s case, his passion for car parts ended up creating an incredible business for him that covered his college expenses and later, launched into a possible career path.

Today, the potential for entrepreneurs to get started while in college is phenomenal. By considering which platforms are possible to make additional capital on, individuals have the potential to start their own business through successful sales without having to take out traditional business loans. While in college, it is absolutely worthwhile to consider how to use eBay to increase a student’s quality of life or overall profit.