Have you heard of Thrivent? They bring a unique, not-for-profit approach to everything they do—putting people before profits in all aspects of their business. It’s the philosophy and the mission they’ve been guided by for over 100 years. One that’s backed by over $116 billion in managed assets of people who trust and believe in a different way of doing business, and a unique way of looking at money as a tool, not a goal. They help they’re members be wise with money, because when people are more financially secure, they’re free to live more content, confident and generous lives.

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There are many situations in life where you will need to work full time while going to college.  You may have a family to support, bills to pay, and can’t give up work to go to school. Even without these responsibilities, working full time while going to school is a good way to avoid too much student loan debt.

Regardless of your reason to work full time while going to school, you’ll need to plan carefully to balance work and college time, and still have room for free time to recharge.

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For many first-generation students — students who are the first in their family to attend college — post-secondary education is a huge deal. They’re taking a different path than the rest of their family, one that their parents may not understand or even support. In many cases, they have more financial stresses than other students and may also feel like they don’t belong on campus. Thankfully, there are plenty of resources to help first-generation students adjust to college life.

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College sets the stage for employment, pressing students to choose the right education for their career hopes. Although it’s an easy prospect for students with clear work goals in mind, others are slow committing to an academic major. While picking a program early in your college career has advantages, being undeclared might not be so bad.

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College poses plenty of legitimate challenges, so the last thing you need is a senseless setback during school. Unfortunately, scammers may have you in their sights, preying on your search for any valuable internship experience.

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Colleges have gotten better at feeding students. Your university food service program probably includes more dining options than a single, predictable, cafeteria menu. While the variety may make campus dining more bearable, it isn’t exactly mom’s home cooking. For a more satisfying eating experience during school, spend some time at your local grocery store and explore other creative ways to stay nourished.

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College is supposed to prepare you for the “real” world, so challenges are expected. Unfortunately, one of the biggest trials facing many college students is finding money to pay for school. Federal and private loans help them make ends meet.

Unless your college fund is flush, you may need help paying for school. Fortunately, there are several types of student aid available, including scholarships, grants, and loans. Most college students draw from one or more of these resources when covering college costs. Which one is best for you?

Paying For Your Education

College spending extends beyond the price of tuition alone. The cost of housing, books, meals, and other necessities pushes up the price of earning a degree. And regular expenses don’t go away during school either.  If you are like most college students, you’ll need outside help to keep up with these extraordinary costs.

Financial aid comes in three forms. Scholarships are earmarked for high achievers who excel in athletics, academics, and civic capacities. If you are a star athlete or an exceptional student, you may be able to land a scholarship. Students who demonstrate need to pay for school are offered grantsl. If your financial outlook prevents you from paying for college, a public or private agency may extend a grant, enabling you to attend. Grants and scholarships do not require repayment.

Student offer a popular third financial aid option, issued by the U.S. government and private banks.

Public and Private Loans

Student loans are offered by private lenders and through U.S. Department of Education programs. These must be repaid after you leave school. Government-backed options have the best interest rates and repayment terms for students, so the Federal Direct Loan Program is the top source for low-interest college loans.

Before you enroll in school, it is important to submit a Free Application for Federal Student Aid (FAFSA). The FAFSA asks questions about your family finances and the cost of attending the college you’ve chosen. Your answers help financial aid officials determine which types of student aid are best for you. If your FAFSA shows financial need, you may be eligible for federal grants.

The last option for students are Federal loans. These loans have the lowest possible interest rates and flexible repayment terms. Both graduate and undergraduate students are eligible for unsubsidized loans. Interest rates may not be as low as subsidized alternatives, but unsubsidized federal loans are still more affordable than similar private loans.

In addition to low interest rates, subsidized student loans offer flexible repayment terms. You have the option to defer payment under certain conditions. During deferment, the borrowed amount does not accrue interest, helping graduates get on their feet before interest payments are due.

When scholarships and grants aren’t enough to cover the cost of college, students turn to loans. Your best bet is a Federal Direct Loan, but private options are also available.

Photograph by: JD Rome

To have a car, or not to have a car: that is the question. Classes have just begun, and you may be asking yourself if having a car will make life easier. For most of your peers, having a car on campus would be a dream come true, but there are a few disadvantages they may not have considered. But you want to be more knowledgeable and confident in knowing if having one on campus is right for you.

Let’s take a look at the pros and cons of car ownership to help you make a more informed decision.

Pros

Freedom to Explore

The college years are the perfect time for exploration. Discovering new places will be less challenging if you have your own set of wheels. If you want to go on a road trip with friends, the public transit system won’t get you there. However, having a car will give you the independence to discover new places on your own terms.

Convenience

Asking friends for a ride, waiting at the bus stop, or walking long distances on foot can get tiresome. With your own car, you’ll be able to go wherever you want without the need to cater to anyone else’s schedule. You’ll spend less time scrounging for a ride and more time focusing on the things that really matter, like reading your textbooks. 

Off-Campus Work

Most colleges offer work-study programs to help students cover tuition costs, but funding isn’t always available. Government funding restrictions leave hundreds of students looking for work off campus each year. If you own a car, the number of job opportunities available to you significantly increases. You’ll be more competitive and attractive to potential employers if you have reliable transportation.

Cons

Expenses

In 2014, Bankrate reported the average annual cost of owning a motor vehicle to be $2,300. The study results included costs for gasoline, insurance, and repairs. Expenses not included in the study were registration, taxes, and loan payments. As a college student, you’ll also need to pay parking fees to keep your car on campus. When factoring in the total costs, you could be responsible for over $5,000 worth of expenses each year.

Before purchasing a car on your own, talk with your parents. Discussing the financial details in advance could save you thousands of dollars down the line.

Friends Asking for Rides

Chauffeuring your friends around town could double your vehicle expenses. Acting as a volunteer taxi service for your friends isn’t smart for your sanity or your wallet. Before you know it, you’ll be shelling out much more money to cover the cost of gas and maintenance on your vehicle. Also, the constant distractions by your friends could negatively affect your productivity at school.

Car Accidents

According to the Insurance Institute for Highway Safety, teen drivers have crash rates three times those of drivers 20 and older per mile driven. If you happen to have a fender bender at college, your insurance premium may increase. Furthermore, the mental stress of having a car accident could derail your ability to focus on your studies.  

When you consider the costs and risks of having a car on campus, maybe a bus pass doesn’t sound too shabby after all.

Student loan debt is no secret to the American public. Unfortunately, the financial crisis faced by millions of students is continuing to grow.

According to the PwC Employee Wellness Survey, 42 percent of millennial employees have student loan debt. Twenty-six percent of Gen-X employees have student debt, as well as 11 percent of baby boomer employees.

Total Student Debt in the U.S.

First of all, the state of student loan debt isn’t getting better. These figures continue to rise each year in the U.S. In fact, the Federal Reserve Bank of New York reported that 44 million Americans hold a debt that has hit $1.31 trillion.

Not quite sure how to comprehend that number? The total outstanding balance on American credit cards is just $779 billion.

Perhaps, this might put things in perspective: The entire economy of Russia is only slightly larger than the U.S. student loan debt, with their gross domestic product coming in at $1.33 trillion annually.

It’s VERY Unlikely That a Loan Is Forgiven

It’s a common misunderstanding among students that their student loans will be forgiven. We want to be clear that this is VERY unlikely. One more time: It’s extremely unlikely that your student loan debt will be forgiven, in part or in its entirety.

In reality, only 10 percent of people will see any portion of their student loans forgiven. To qualify for forgiveness, you must fit into a few narrow categories. Those are:

1. Take a public service job for a long period of time.
2. Teach in an underserved school district.
3. Attend a college that closes while you’re in attendance or shortly after you graduate.
4. Become permanently disabled.
5. Die.

Those are all the options. That’s it. Hence, if you don’t fit into these categories, your student loan debt won’t be forgiven.

Fees, Fees, and More Fees

Changes are afoot in the U.S. Department of Education. The Trump administration has rescinded an Obama-era rule that forbade debt collectors from charging collection fees from defaulted borrowers if they begin paying within 60 days of defaulting.

For students who miss several payments in a row, debt collectors can charge fees as high as 16 percent. Additionally, these fees are levied against the entire outstanding loan balance and interest charges.

What Happens If I Default on My Federal Student Loans?

You’re not alone in asking this question. In 2016, 1.1 million federal student loans were in default according to the U.S. Department of Education.

A federal student loan goes into default after 270 days of missed payments. The consequences of that are:

• The entire balance of the loan is immediately due.
• You lose eligibility for deferment, forbearance, and flexible repayment plans.
• You could face a loss of credit.
• Your wages and tax refunds can be used for repayment.

If you’re periodically missing payments or have concerns:

• Contact your loan provider as soon as you know there’s a problem.
• You can ask for a forbearance.
• Find out if you’re eligible for a flexible repayment plan.

If you’re already in default:

• Ask for loan rehabilitation from your loan provider.
• Have your default status lifted by making nine on-time payments within 10 months.

Taking on student loan debt and figuring out how to repay that debt are major choices that should take time and thoughtfulness to make.

Around 26.4 percent of 16- to-19-year-olds and 18.4 percent of 20- to-24-year-olds are active community volunteers, according to the most recent research from the Bureau of Labor Statistics. Yet many college students forget to mention this important experience when applying for jobs. In fact, less than a third of all job seekers mention unpaid work on their resumes. Don’t underestimate the value of volunteering! These are the reasons you should mention any community service on your resume.

Volunteering Teaches You Vital Career Skills

Volunteering teaches new skills and helps you hone existing ones. You might pick up job-specific skills, such as how to prepare food or update social media channels, as well as more general skills transferable to any role such as working as part of a team and managing your time effectively. Ninety-two percent of interviewers recognize that volunteering builds leadership skills, according to research from professional services firm Deloitte.

While employers slightly favor candidates with experience that relates to their positions, any volunteering work is valuable. Whatever you take from working in a real-world environment, your prospective employer will want to know about it.

Volunteering Helps You Beef Up Your Resume

At your tender years, you probably don’t have much paid work experience. You might have held a summer job at a fast-food restaurant or worked part-time at your local mall at best. However, even these aren’t likely to impress a potential employer. Noting your volunteering experience helps to separate you from the rest of your classmates by showing you have more to offer. This is especially important when you have little to no paid-work experience.

Volunteering Reflects Well On Your Character

Without money as an incentive, people do it for a variety of deeper reasons. Perhaps you volunteered to become more job-ready or make industry contacts. You might have been motivated by a desire to help others or your community. Whatever drove you to volunteer, you’ve displayed the sort of energetic, can-do attitude employers love. In fact, 82 percent of interviewers told Deloitte they prefer job applicants who have volunteered. Failing to mention your volunteering experience on your resume is failing to seize the opportunity to show you could be a valuable asset to any workplace.

Volunteering Gives an Insight Into Your Interests

When you take a paid job as a college student, you are probably happy to accept almost anything that comes with a paycheck. Deciding where to volunteer is likely to be a more personal choice. You might spend time reading to the elderly because you’re interested in working in aged care or volunteer at an animal rescue because you’re passionate about pets. Whatever your choices, noting your volunteer experience on your resume will help a potential employer get to know you better before the interview stage.

Volunteering might not be paid work, but it provides valuable experience any employer will want to know about. Remember to list your volunteering work and achievements proudly alongside any paid work on your resume.