College/Work/Money

[MsNobleEleanor]

College is going very well this term. However, I have all these stressors of money. Like any College student nearing the study time of 8 months, when there is about 7 weeks left of classes.

I've been applying non-stop to places, on the phone getting my name to them so they will look at my resume and application. I have a very good resume that anyone would like to see in their employees.

The thing is, I am covered for rent for March and got my bus pass for March. Ideally I prefer to pay my landlord 4 weeks in advance or 2 weeks in advance. Now, it's not required of me to pay that early on, I just feel it's easier for me to transfer the money into his account.

I hope one of these jobs pulls through for me. Once Spring comes and College is done, I'm going to hold two jobs (both full-time or part-time) to get myself ahead of the game for University. However, I feel I may not be able to pay my landlord Aprils rent. I hope things fall through for me. If I do in fact get a job in March I'm not notifying the College.

I've received under 2 grand in bursaries. The one bursary of a grand was because I am first generation, the second one was from I had no money, I was broke and the third one, I guess they felt sorry for me because well, I couldn't afford a text book which I wanted to rent and couldn't.

They basically say, "you shouldn't be in a deficient" well I am, because well I messed up on calculating things. They also don't understand the fact I have no family, whereas, a lot of students there do have families. This term alone, there is only one I can apply to.

Oh, and I can start saving a lot of money because my roommate offered to drive me to the grocery store when he goes, every other week. Well guess what, I am broke and can't go. My hopes is I can accept his offer, buy canned things, buy in bulk, where it's not carried it's basically driven back to the house. I now have to come up with an excuse and say I am busy then... urgh...

Also what messed me up was a unpaid cell phone bill of 2 months, so the added fees, on top of that another bill because of yet another added fees. I would have been fine but I got behind on my bill and one is coming up soon and I am screwed, yet again.

So my questions are:
How can I lower my stress of money concerns when I have 6 weeks of saving grace till my next payment for rent and bus pass?
Any advice or suggestions would be amazing.

[SpecterH]

Being a student is tough, especially when you don't have the luxury of having wealthy parents who can pay your entire education. I've been in university for the last four years, and while my parents have tried to help me as much as they could, money has been a consistent stress in my life as well. My tuition this year, and for the next three years, is $25,000 per year; so I can definitely relate.

Have you tried to work part-time during the school year? I know you work hard during the summer, but working a few hours a week during the school year can help alleviate some of the stresses you're experiencing, and you could earn enough to buy proper groceries.

I know you've received bursaries, but try applying for scholarships as well. Scholarships tend to be more merit based, though. I've worked hard since my first year, and currently get $12,000 per year or so in scholarships merely because of my grades alone. If you buckle down and really try your best, you could be eligible for a scholarship. This has two benefits: you'll get awesome grades which will help you in your future, and it'll also provide you with a monetary benefit in the form of a scholarship. Even if you don't think your grades are high enough, apply anyway. Many scholarships go unclaimed because of a lack of applicants.

I know that money is a complicated issue, especially at our age, but it'll get better. Know that most students are in the exact same position as you; if not, they could be in an even worse situation. If you work hard now, your future will reward you for your hard work.

Have you considered a Student Line of Credit? Several major banks offer Lines of Credit to students in similar positions. A Student Line of Credit will usually carry a significantly less interest rate than your typical Line of Credit, which is helpful for a student. Moreover, you only have to pay interest on the Line of Credit until you graduate; only then will you have to start re-paying the principal.

Lastly, depending on which province your from, provinces usually have a student loan/bursary program. In Ontario, for example, many students use OSAP. This form of funding is made up of a combination of loans and grants that are given to students based on the income of their parents. It provides a maximum of $14,000 per year or so to students in need.

I hope one of these suggestions piqued your interest in some way. If you have any other specific questions, or need additional advice, feel free to reach out. I go to university in Canada as well, so I have quite a bit of knowledge re: how everything works.

[Lelola]

I think if you get a job, you should plan on keeping it. I would look for a part-time job and any part-time job. Many traditional jobs are swarmed with applicants so you may find yourself only working a few four hour shifts a week. Sometimes they may work you only 12 hours a week.

I would also look at making a budget and things you can cut out of your current expenses. Sticking to a budget is important. If your cellphone contract is almost up, consider switching to prepaid.