Learn about student loans
- Create a four-year plan for student loan borrowing during college.
- Review your Federal Direct Loan History (Stafford and Perkins loans) and Lender Servicers through https://studentaid.gov/ - You will need your user name and password used for the FAFSA.
- Use a loan repayment Loan Simulator.
- Understand Subsidized vs. Unsubsidized loans.
- Review the various federal student loan repayment options.
Making good financial decisions
- Set up a budget to compare the money you have vs. the money you plan to spend. Use a spreadsheet to organize your expenses vs. income. Break out your budget into categories such as:
- meals or entertainment
- splurges or big ticket items
- Put aside a portion of your summer or school-year earnings for books in future semesters.
- Consider ways to maximize summer earnings and investigate internship funding through Gettysburg’s Center for Career Engagement. Think long- term: taking a lower (or even non-paying) internship may help you secure a more competitive job after Gettysburg.
- If living in an apartment, have conversations before the semester begins about contributions to expenses. If living off-campus and paying various utilities or other bills, discuss and determine expectations for how and when roommates will share these additional costs.
- Research possible future earnings for various careers through the Occupational Outlook Handbook.
Tips for talking about finances with your parents
- Appreciate their contributions, both in terms of their time as well as finances, to your success over the years.
- Ask them when it's best to talk finances. Would they prefer to schedule a specific time?
- Encourage an open conversation, allowing them to share what they feel comfortable.
- Bring up what you are prepared to contribute, either in terms of financial contributions through summer/school year earnings, loans or other resources.
- Help them to understand your short-term and long-term goals (even if they aren't financial goals) and what you are doing to work towards them.
Other campus resources
- Center for Career Engagement- maximize your post-graduate opportunities and find out about externships, internships and on-campus programs.
- Center for Global Education- understand the financial benefits of Gettysburg's affiliated off-campus study programs.
- Student Accounts- get to know your billing statement or contact your Student Accounts Representative.
Other useful websites
- studentaid.gov- A comprehensive overview of federal financial aid programs
- fastweb.com- Outside scholarship search engine
- bls.gov/ooh- How much can I earn in career A, B or C? Search for occupations in thousands of industries
- youcandealwithit.org- Tips for parents and students
- mymoney.gov- Various resources and tools
- Financial Well-being- iGrad a comprehensive, online financial well-being resource designed to help develop or improve personal finance skills.