5 easy ways to save money at school

Start paying off those loans now



From the September/October 2016 issue of the magazine.


how to save money

1. No meal plan? No problem

Put the money you would have spent onto a prepaid credit card so you decide whether
to spend $7 on cold chicken fingers in the caf or cold cuts and buns at the grocery store

2. Buy last year’s books

It’s no secret: Used books are cheaper than new ones. But buying books one edition out are an even better deal. Check with your instructors to make sure you’re not missing key information

3. Apply for scholarships

Recent figures suggest as much as $15 million in Canadian bursaries goes unclaimed each year. Find them and apply. Sometimes a half-page letter is all you need to earn $500 or more

4. Fly high with discounts

Many places on or near campus offer discounts for students. And many off-campus too. Air Canada offers its Student Pass, which gives students six pre-paid flights at a reduced price, so they can visit home through the year

5. Start paying student loans now

Got a part-time job? You can start paying the interest on your student loans while you’re still in school. Even $100 a month will save you thousands down the road

4 comments on “5 easy ways to save money at school

  1. Whoever wrote this has never been a student. Here are the real ways to save money as a student:

    1) Never buy a book listed as “recommended”. You’ll never use it.
    2) Ask students a year ahead of you if they used their textbooks. Some classes need the textbook, others will never use it.
    3) Look online for the “International Version” of many textbooks. It’s the exact same thing but it has a different cover and it’s much cheaper.
    4) Resell your books with your class notes, summaries, and study notes. You can get far more money than you would otherwise.
    5) Socks, underwear, and t-shirts are the only things worth washing. Jeans and sweatshirts never need to be washed.
    6) When buying alcohol, compare Cost per mL to Alcohol Content per mL to make sure you get your buzz for your buck.
    7) Keep your eyes open for events with free food on campus. Even better – at the end, ask what they’re planning on doing with the left-over food. Half the time they don’t know what to do with it, so you can take the rest home and eat for a week.


    • Nice tips, Vanessa!


      • Thanks!


  2. I find the suggestion to pay off student loans while you’re still a student rather preposterous. Provincial and federal student loans do not accumulate interest as long as you’re in school — you’re much better off taking that $100/month (really, as much as humanly possible) and dishing it into GICs that will mature the day you graduate. Then take the lump sum and smack it into your loans before your grace period ends.


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