When you’re getting your degree, it’s one thing to run low on money for fun activities. But it’s a whole other story when you’re running out of money to pay for necessities or next semester’s tuition. First, remember that you’re not the first student that this has happened to. But whether there’s a change in your financial situation or an unexpected expense, you’ll need to act quickly.
Consider Taking Out a Private Student Loan
For big expenses, like tuition or next semester’s textbooks, you might want to take out a private student loan. If you don’t have a credit history or a stable income, some lenders require a cosigner. Luckily, we have the availability of student loans without a cosigner needed. Only borrow what you need. Also, make sure that you read over the loan’s terms, so you know what you’re getting into.
Look for Emergency Services
If you don’t have a good housing situation or go without basic food, you might have trouble keeping up with your classes. It’s hard to do much learning if your stomach is constantly empty. Reach out immediately if you need shelter or food. Talk to a professor or contact the student life office. If your housing is run by the college, there may be residential assistants to help you. Everyone needs food and shelter, so don’t be embarrassed about asking for help. Some campuses may have food pantries. There are likely resources in the area to point you toward food banks or emergency housing.
Sell What You Can
If you need cash now, try selling unused items, like clothing, online. That’s a good way to make money in just a few hours or days. You might be able to sell your textbook back to the bookstore. Sometimes you might make more by listing your books online. Many schools also have student groups on social media dedicated to selling textbooks or other supplies for school.
Find a Good Job
If you aren’t in an emergency situation yet, you still have time before things start getting serious. Consider looking for a part-time job. Many pay only minimum wage, but you may be able to find a better-paying one depending on your skills. While you’ll likely need to look elsewhere to cover tuition, the funds from work may help cover textbooks or living expenses. For instance, academic tutors often receive good paychecks, depending on their location and the material being taught. You might make more if you help students prepare for admissions tests like the SAT.
If you’re good at computer programming, look for an online job that meets your skillset. Think about what you’re good at and look for ways to turn your talents into cash. Even though it’s important to earn extra money, it’s just as vital to balance studying with work. Try to find a job on campus or close to your living arrangements so you don’t have to spend much time commuting. Don’t forget to track your earnings so you avoid spending more than you make.