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Student savings

savings

It’s hard to believe how fast summer has whizzed by. But, believe it or not, there is only one week left before Labour Day Weekend and it’s time for the kids to go For parents who are packing their teenagers off to university or college for the first time, you’ve been signing some big cheques lately.back to school.

For parents who are packing their teenagers off to university or college for the first time, you’ve been signing some big cheques lately.

We all know how expensive tuition is, but there are lots of other costs that also add up to take a chunk out of your education savings.

I take university courses part-time and even I feel the pain for these extras.

Here are some handy tips on how college kids can keep their everyday expenses down and avoid coming to you too often with their hands out.

Books
The University of Windsor estimates that required books can cost anywhere from $500 – $800 per semester. But, there are ways to get those books cheaper.

Look on school bulletin boards and campus newspapers to see who’s selling.

Get a list of required texts as early as you can so you can try to order them online or through book discounters.

Buy used books at the university bookstore or from a second- or third-year student.

Take a list of your used books to first-year classes. Use the money to buy your second-year books.

Parking at schools can be expensive. It would cost me at least $7 to park on the evenings when I take my courses, which is why I take public transit.

Try co-ordinating your schedule with friends so you can share the parking costs.

If you use public transit, be sure to check and see if your university or college offers discounted passes.

If the transit system offers transferable passes, see if you can share the cost with someone who has classes at different times than yours.

Many universities and colleges offer student discount cards that are valid at a number of retail stores, including restaurants, clothing stores and other shops.

Be sure to pick up a discount card for your local area. A Student Saver Card offered through the Canadian Federation of Students offers discounts in cities and towns right across the country.

Visit www.studentsaver.ca to see the discounts available.

Student debt… by the numbers
$4,650

The average income of a working student

$4,970

The average cost of undergraduate tuition and ancillary fees

$7,500

The average amount of money borrowed from the government

$14,500

The average amount needed to cover annual study-related expenses

$16,000

Average annual amount needed by a university undergraduate

$11,500

Annual amount needed by a college student

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