Useful Sites and References

These pages will provide you with further information on how to stay debt free in college. 

Click on the title of the website you are interested in to take you directly to that website.

Workopolis

Let’s face it!  Sometimes it can be really hard to find a job especially when you don’t know where to start or even look.  Workopolis is a website that allows you to browse jobs anywhere across Canada.  You can even specify what type of job you are looking for, the location of the job and whether you are looking for a student position or entry level job. 

Workopolis allows you to set up an account for yourself.  This account allows you to upload your resume and cover letter, save jobs that you aren’t ready to apply for and save what you have searched throughout your time on the website.  Workopolis has great tools as well.  Career resources allows you to view the latest news and advice, check the salary you should be making with the salary calculator, update your resume with resume rescue and look for more education and training. 

I would advise anyone who is having difficulty finding a job to give Workopolis a try.  It’s free to use and worth a try!

Scholarships Canada

Scholarships Canada is an online database available for students who are inquiring about a scholarship.  Creating an account on this website is easy and will allow you to search multiple scholarships, students awards, bursaries and grants.  You are able to search these scholarships by name, school of study or field of study. 

This website is an excellent source to find helpful information on how to properly fill out applications as well as budget tools to help you manage your money.  It provides many tips on how and where to find scholarships and how to avoid student debt.  Scholarships Canada also provides you with articles about student loans and alternate aid options such as a bank loan or line of credit. 

Signing up for Scholarships Canada is free and allows you to have access to multiple tools and helpful aids.  You can make your own profile with the scholarships you are interested in and the website keeps you up-to-date on current and upcoming scholarships.  There are thousands of scholarships to choose from.  Get started today to help save money throughout your college education.  

MoneySense

MoneySense is Canada’s Personal Finance Website that helps you manage your money and spending habits.  Originally a magazine, MoneySense has great articles teaching you tips on how to save your money.  Not only does this website have useful information about education savings, MoneySense also provides you with excellent information on planning, investing, saving, real estate, living and retirement for the future. 

MoneySense can help you with your spending habits in a section called Calculators.  The Calculators section offers you five different types of calculators that can help you manage your money.  The calculators are as follows:

• RESP (Registered Education Savings Plan) Calculator
• Calculates your compound interest
• Mortgage Calculator
• Calculates the total cost of your mortgage
•  University Cost Calculator
•  Calculates the total annual cost
•  Life Expectancy Calculator
• Calculates your retirement planning
•  Portfolio Tracker
• Tracks how well your investments perform over time

Overall, MoneySense is an outstanding website in order to help you manage your money and spending habits.  

BudgetTracker 

BudgetTracker is an online system that helps you track your budgets.  Creating an account on BudgetTracker is free and easy to set up.  With BudegtTracker you can: 

• Keep track of your banking accounts,
• Track your spending,
• Schedule your income,
• Create a budget for yourself,
• Keep a calendar with daily reminders,
• Keep track of your business needs, and
• Organize your life.

 

Organize your life is a neat feature where you can keep track of shopping lists, tasks, upcoming school projects, contacts and more.  BudgetTracker also has a convenient section called Forecast Your Income.  Forecast Your Income will automatically keep track of your income and show you what money you have to spend for the future.  There is also a Graphs and Charts section, which puts all of your data from the site and puts it into a Graph and Chart.  This is a useful tool for those of us who are visual learners and read graphs and charts easier.

Overall, BudgetTracker is an ideal student tool to learn how to properly budget your spending habits. 

Managing Your Time

Dartmouth College offers a website for their Academic Skills Center on how to properly manage your time.  A lot of students have trouble managing their time and knowing how to manage your time is a part of being a successful student.  Managing Your Time offers handouts and schedules available to get you started in managing your time.  The handouts include:

• How Well Do You Plan
• Creating a Master Schedule
• Time Management Tips
• Making a Personal Schedule

Managing Your Time also offers time management videos to help you cope with your school schedule.  The videos teach you how to manage your time while at school so you stay on track.  Other Universities have also offered learning links on time management and procrastination to learn how to effectively manage your time and tips and tools on how to stop procrastinating.  Overall, this website gives excellent tips and helpful tools to manage your time appropriately to stay successful in school. 

References

Cliffs Notes. (2011). Work at a part-time job. Retrieved July 18, 2011, from 

http://www.cliffsnotes.com/Section/Work-at-a-Part-Time-Job.id-305416,articleId-28261.html

College Board. (2011). Students & part-time work. Retrieved July 26, 2011, from http://professionals.collegeboard.com/guidance/prepare/work

Constandse, R. (2007). Time management for college students. Retrieved July 18, 2011, from http://www.timethoughts.com/timemanagement/time-management-college-students.htm

Degree Match. (2011). 5 financial management tips to stay debt-free. Retrieved July 26, 2011, from http://www.degreematch.com/financial-aid/financial-management-tips.html

Searching for Scholarships. (2000). Career World, 29(1), 4. Retrieved from Academic Search Premier database. 

Statistics Canada. (2010). Study: The financial impact of student loans. Retrieved July 18, 2011, from 

http://www.statcan.gc.ca/daily-quotidien/100129/dq100129c-eng.htm

Having a Part-Time Job

“Studies show that students who work are more confident and possess better time-management skills than students who are not employed” (Students & Part-Time Work, 2011).  Having a part-time job is essential when attending school.  Of course you need to be able to manage your time but you also need to have money in the bank to afford school.  Cliffs Notes suggests that in order to balance a job and still keep up with your academic commitments, you need to:

• Work as much as possible during the summer, 
• Find a flexible employer,
• Be flexible yourself, 
• Give yourself a break, and 
• Start slowly.

(Cliffs Notes, 2011)

Following these steps is an excellent start to staying debt free in college.  Making as much money as possible during the time you have off is a key component in order to stay debt free.  Try to give yourself the opportunity to work as many hours on your time off or before you enter college to save the money you’ll need to textbooks and tuition.  Finding a flexible employer is also very important.  Often, the college you go to will have employment opportunities.  The employers on the college ground will be flexible with your schedule because they know your schedule.  Keep in mind that if your employer is being flexible however, you need to be flexible as well.  During slow times of the year offer to work more hours so they can return the favour later.  Ensure you give yourself breaks and start slowly with hours so you don’t wear yourself down. 

Academic Scholarships

Applying for scholarships and bursaries in order to help offset school fees is another way college students avoid graduating with student debt.  In order to receive scholarships and bursaries you must apply to as many as possible and don’t be afraid to ask for help from resources at the college.

“Winning a scholarship could make a sizable dent in your college tuition bill.  But a number of common misconceptions about scholarships hold back many students from applying.  Don’t fall into the trap of believing that only high achievers and students with great financial need are eligible to win scholarships” (Searching for Scholarships, 2000, p.4).

Applying to as many scholarships and bursaries as possible will give you the chance to receive a scholarship, however, not applying won’t.  Having access to research tools and knowing how to use them is essential when applying for scholarships and bursaries because you have to work hard in order to find these opportunities.  Websites and the student services at the colleges can help you find these opportunities for scholarships and bursaries.

Spending Habits

In order to avoid graduating with student debt after college, you need to start with a clean slate.  Avoid debt from the beginning!  Degree Match suggests five easy tips to staying out of debt in college.  These tips include:

• Tracking how you spend your money, 
• Creating monthly budgets, 
• Avoiding the use of credit cards, 
• Having a back up emergency fund, and 
• Avoiding late payments.

(Degree Match, 2011)

You don’t always need that new t-shirt you saw at the mall.  I realized that first hand when I noticed that my spending habits were burning a hole in my bank account.  Most bank companies now have online tools to help you budget and keep track of your money.  Look into these resources to help your financial budget.  Being able to manage your credit card usage is also important in college students avoiding graduation with student debt.  Along with managing your credit card usage you must know when it is appropriate to use it, know how to choose a card with a low maximum allowable spending limit so you are not tempted to overspend, as well as setting a budget for monthly payments.  Avoid late payments on your credit card and try to pay the amount in full each month.  Having a back up emergency can help with this, but remember, it’s only there for emergencies!  Following these tips will lead you to a successful, debt free college student.

Time Management

“Time management is an important skill for college students because they typically need to juggle many different activities in a rather unstructured environment” (Constandse, 2007).  Without even basic time management skills you may find yourself in a situation where you begin to spiral out of control.  Not only will you begin to struggle with staying ahead of the workload associated with your program, but you may also begin to lose the ability to focus on the importance of certain priorities.  These priorities are the key to graduating debt free or at least with debt that is manageable and short term.  Don’t worry and relax!  For those of you that enter college with good time management skills this is a no-brainer.  However, if you struggle with basic time management skills, take advantage of your college based resources available to assist you in learning these skills.  These skills will help you manage your time between your workload and part-time job, to stay debt free in college.

Staying Debt Free in College

Statistics Canada states that multiple surveys show that over one-half, 57%, of students are left in debt.  Students are left with an average of $18,800 in debt from student loans (Statistics Canada, 2010).  Don’t be another statistic!

There are four key components to stay debt free in college.  To say debt free in college students need to:

•  Manage their time through time management skills,

•  Review their spending habits,

•  Apply for academic scholarships, and

•  Inquire about a part-time job.
 

I always strive to do my best when it comes to managing my money.  I have done a great job in managing my money for the first year and a half of my college education and would like to be able to teach you how to stay debt free in college.  Please review my posts on time management, spending habits, academic scholarships and part-time jobs, for more information on staying debt free in college.  By sharing my own personal experiences, it is my goal to teach students tips and tools as to how to stay debt free in college.