Avoid Identity Theft
How to Cut Your Spending - And Save More for College
How to Compare Financial Aid Packages
Money - When to Give
Understanding Loans







 

 

 

2009
Hot Topics for High School Students

How to Cut Your Spending – And Save More for College

Having a healthy savings account when you head off for college is a gift you’ll thank yourself for later. But how to find the extra cash to put away?
  • Control yourself! It’s easy to see something in a store and buy it impulsively, but if you take a little time, promise to never buy something until you’ve thought about it for awhile, and set a spending limit that you won’t go over, you’ll find yourself spending less.
  • Arm yourself with knowledge. Shop around, do research, know as much as you can about an item before making the decision to buy it. You may be able to get a better deal.
  • Track your spending. It’s easy to let your cash slip away a little at a time on coffee, eating out, and other small expenses. If you write down every expense for a month, you may see how that adds up, and decide to cut back so that you have some of that cash for your college savings.
  • Get a deal. Whether you wait for a sale, buy it used, or trade with someone who already has it, there are ways to get what you want for less.
Small steps can sometimes really add up over time. To learn more about managing your money, visit:

Understanding Loans

Do you have a car loan? Are you thinking about getting a credit card? Will you need to borrow student loans? Before you ever borrow money, there are some things to understand about how loans work.

When you agree to take a loan or borrow money on a credit card, you:

  • Are promising to repay what you borrowed, in full.
  • Are agreeing to pay interest, which is the money the lender earns in exchange for lending money to you.
  • May also be required to pay fees to secure your loan, which help pay for the costs of the loan. These funds are sometimes taken out of the amount of money you actually receive from the loan.
  • Will face serious consequences for not paying back your loan on time, as agreed. Employers, landlords, future lenders, and even insurance agents will check your credit history to make sure you are someone who repays the money you borrow. Don’t mess with your future by ignoring your responsibilities!
Be aware that you should avoid borrowing money when you can. Save up for that car, use a debit card instead of a credit card, and work summer jobs to reduce the amount you’ll need in student loans.

How to Compare Financial Aid Packages

Spring is when financial aid award packages start arriving for those high school seniors that have applied to college and completed their FAFSAs (learn more at http://www2.eac-easci.org/borrower/payforcollege.shtml#completeFAFSA). Comparing award packages is an important part of choosing the right college for you. Here are some tips for making the best choice possible:
  • Compare the bottom line. Look at the total cost minus the financial aid offer.
  • Understand that scholarships and grants don’t need to be repaid, so this type of aid is better than student loans, which do need to be repaid.
  • Think about all the costs. Your transportation and personal expense costs may vary based on which college you choose. Take that into account as well.
  • Borrow wisely - never borrow more in student loans than absolutely necessary.
  • Plan to work. Whether you accept federal work-study funds from your college or find your own part-time job, it’s important that you contribute to your own educational costs.
Need more help? View Comparing Award Letters.

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Avoid Identity Theft

You’re in high school – could identity theft happen to you? YES! Identity theft is when someone (usually someone you know!) uses your private information to buy things on credit. These crooks never plan to pay for these things, and would rather stick you with the bill! How can you avoid becoming a victim of identity theft?
  • Keep your private information private. This includes your Social Security Number, bank account information, phone number, and your mother’s maiden name.
  • Never give out your information in response to a phone or email from a stranger.
  • Never share your IDs or passwords with anyone.
Learn more about identity theft at http://www2.eac-easci.org/HSStudent/2003hottopics.shtml#identity.

Money – When to Give

You know how to spend money. You probably understand how important it is to save money. But why should you give your money away? Giving money to causes you care about is important for the following reasons:
  • It helps others less fortunate than you.
  • It gives you a great sense of satisfaction that you’ve made a difference.
  • It provides you a chance to live on less than you’ve earned, which teaches you to be more disciplined with your money.
  • You may not have a lot of money to give, but giving even a small percentage of what you earn is worth it.
Don’t forget that there are other ways to give, even if you don’t have the cash:
  • Give blood, if you’re eligible.
  • Donate your time to a community organization or charity.
  • Ask for donations to a charity instead of birthday gifts for yourself.
  • Coordinate a bake sale or car wash for charity.
  • Offer to do chores for someone in your community who needs the help.
Giving your money and talent to a good cause is simply another facet of wise money management. To learn more about handling your money, view our Wise Borrowing tips.

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2008

TOPICS:
Dakota Corps Scholarship Priority Date Reminder
It's About the Bottom Line
Parents: Help Your Child Prepare for the ACT or SAT
Registration, Orientation, and Housing
Understanding the Types of Degrees
Money Management:
  How to Save Money
  Small Savings Add Up
Web Sites to Know:
  College Goal Sunday
  FAFSA4caster
  Mapping Your Future
  Your College's Web


2007

TOPICS:
Decision Making
FAFSA on the Web
Maintain Your E-mail Address
Protect Your Identity
Should I Take the PSAT?
The Financial Aid Process - From Start to Finish
Web Site to Know: Going 2 College
Web Site to Know: PIN
What Are Fall Planning Days?
What is the FAO?
Juniors:
  January: First Generation College Students
  March: Understanding the Types of Colleges
  April: Will you Meet Academic Requirements
  May: Be Credit Card Smart
Seniors:
  January: FAFSA Time is Here
  March: Award Letters
  April: Understanding Student Loan Types
  May: Tips for Succeeding at College


2006

TOPICS:
Mapping Your Future's Top Ten Tips for Completing the FAFSA
Reminder: South Dakota Corps Scholarship Deadline Approaching
Get a PIN: Personal Identification Number
Saving for College
Juniors: Get Involved
Juniors: Scholarships - The Easy Way
Seniors: Visiting Colleges
Seniors: How Reciprocity Can Save You Money

2005

TOPICS:
Resources for Students with Disabilities
Completing the FAFSA
Parents: It's Time to Let Go!
Job Shadowing
ACT vs. SAT
Watching Your Money at College
Stay Safe Online
Why Should You Take the PSAT?
Money: It's the Small Things
How Do I Contact the Financial Aid Office?
Avoid Over-Borrowing
Protect Your Identity at College
Using Your Award Letter
Parents: Teaching Your Child about Credit Cards
Make It to College - Your Student Aid Report
Make It to College - Visiting the Campus
Parents: Preparing for an Empty Nest
Thinking About Attending an Out of State College?
Make it To College - Complete the FAFSA


2004

TOPICS:
Make It to College: Learn About South Dakota Scholarships
Make It to College: Taking the ACT/SAT
Get PIN at www.pin.ed.gov
Make It to College: Time Management
Saving Your Summer Earnings
Manage Your Money at College
Choosing the Right College
Award Letters: the Next Step to Financial Aid
Am I a Dependent Student?
How to Get a Scholarship
Don't Waste Your Money on Financial Aid Help


2003

TOPICS:
Identity Theft: It Can Happen to You
The Military: Is it Right for You?
Free Financial Aid and Scholarship Help
What is Expected Family Contribution?
What is Reciprocity?
Cell Phones and College
How to Save Money at College
Credit Cards: Advice for Parents
Financial Aid Help for Students and Parents
Credit Cards: The Consequences


2002

TOPICS:
Credit Cards: Are You Ready?
Watch Out for Financial Aid Scams