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What Advice Can You Give A Low Income Undergraduate?

Jan 10, 2018 by

Whether you’re a teacher or a parent, you can’t help but feel a little concerned for an undergrad student on a low income. The cost of education continues to climb at a rapid rate, and the cost of living is increasing too. It is becoming increasingly hard for families on low incomes to find the resources to offer their children an opportunity for education. But it is possible, with the right advice:

Good Health Can Come Cheap

Taking care of your health while you study is essential to achieving good results. This means that adequate exercise and good quality food are important. Equally important is a full night of sleep every night. That doesn’t mean that every party invite must be turned down! But turning in early can benefit all of us enormously. Invest in a good bed in a quiet room or apartment. Cook at home whenever possible. And make the most of the walk to campus.

Student Loans Will Hurt To Repay

Most of us have to borrow to cover the cost of a degree. But student loans are often repaid from your pay packet. This can significantly reduce your future income, making it difficult to make ends meet when you graduate. You might be tempted to find alternative ways to fund your college years, but these may come with risks. And if you choose to borrow more to cover the cost of living, a vacation, or extra books, then you might find yourself in more debt than you can recover from. Only borrow what you absolutely have to. Work to cover the rest up front.

Keep this goal in mind as you study and work your way through college. Photo origin

Live Frugally For The Next Few Years

Living frugally isn’t fun. It requires a lot of sacrifice and care and attention to your expenses. Still, sticking to a tight budget means that you can come away with your degree and a lot less debt to worry about. Use two-for-one vouchers and the Panorama flyer discount opportunities to reduce the cost of a typical shopping trip. It gives you a chance to enjoy independent living when you finally finish college.

Expect To Work While You Study

The best way to avoid extra debt while you study is to work. Part-time work can bring in just enough to cover your food bill and accommodation costs. It might give you a little extra to put toward those expensive textbooks too. There is, of course, another reason for working while you study. Work experience, especially in the industry you want a career, is very valuable when it comes to winning that graduate position in the future. Take opportunities to contribute to other projects within the business too. Collate photos and descriptions so you can create a portfolio for prospective employers.

Prepare To Pay Much More Than Just Your College Fees

The cost of education extends far beyond the college fees. There are the transportation costs and room rent. Then you have to cover internet and TV subscriptions. What about your phone, your energy bills, and your licence renewals? Then there is insurance, car costs, clothing, extracurricular activities and medical costs. Don’t forget food! Budgeting and managing spend for the next few years are some of the best advice to offer.

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