It's August, which means that it's tuition time for the many of us heading back to school.
*GULP*
Over the next few weeks, the loans I am borrowing will be disbursed to my university to pay off the tuition and fees I owe as I continue my education. Once I have settled my bill with the school, the remaining funds will be deposited into my bank account in a ceremony I affectionately refer to as "Student Loan Payday."
Let's face it, getting a degree is expensive, and many of us need to borrow money just to cover our cost of living. Here in the San Francisco Bay Area 
, that burden is especially high. I am eagerly awaiting the additional money in the bank so I know I'll be able cover all of my expenses for the next few months!
The kicker about "Student Loan Payday" is that it only comes about once a semester, which means you have to figure out how to make those funds last. Creating a budget—and sticking to it—is crucial to making that happen!
What tips do you have to help stretch your student loan dollars?
Lots of Mac & Cheese & Ramen Noodles! Seriously, just stay away from shopping malls and stick with purchasing only necessities is helpful. I've realized how much 'stuff' I buy that I don't need and if I just refrain from doing this I don't need to worry about the bank acct...as much anyway. It's okay to splurge on yourself now and again but definitely not as frequently as when you have a paycheck every two weeks.
Stick that money in an online savings account, so that A) it earns a bit of interest over the semester and B) you're less likely to use it on frivolous things, since it's a bit harder to get at.
Smart advice, Student and Steph. :) Thanks for sharing!
I pay my rent four months in advance and then stock the fridge and freezer to the brim.Do not go out and waste your money partying!!! I have seen plenty of students starve through the last part of the semester because they were foolish with their money.My school set back disbursements by three weeks and now everybody is miserable and broke. Hope I get mine soon.
I average up what my bills (electric, rent, etc.) will be for the semester and pay ahead! Then, shop sales for necessities!
anyway to tell when the left over stuff will come in? My school said if we were enrolled on the 9th of last month we will have to wait til this 9th to get it well its the 9th and i didnt see anything in my mail box i dont think they do direct deposits besides that i didnt give anyone my checking acct #??
baloona -- Double check with your school to see when and how the funds will get to you. Once the lender has disbursed the funds to your school the school decides when the additional amount will get to you.