Financial Planning for Next Year

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Calculate need
Try to estimate how much your student will need to pay after scholarships and grants are applied to their tuition and fees. While we don't know what tuition per credit hour will be for the 2016-17 school year, you can talk to your student to see if the number of credits they will be taking will be more or less than the current semester, so you can plan appropriately. If your student had some one-time scholarships for this year that they will not get next year, talk about how the difference will be paid. You can find more information about UNL costs online.

Work & save money over the summer
Your student should consider getting a job or internship over the summer, especially if they are not taking summer classes. Not only does your student have the opportunity to make money and save, but they also get valuable work experience that will make them more attractive to employers after graduation. If your student needs help finding a job, they should consider enlisting the help of UNL Career Services. After figuring out how much your student will need to cover next year's expenses, they can create a goal to help them determine how many hours a week they would need to work to save up that amount. Students may also want to try to save for books, sorority/fraternity fees, and other miscellaneous costs.

Apply for scholarships
Many students stop applying for scholarships once they begin college. However, students should continue to look for scholarships throughout their college careers. Additional scholarships can help bridge the gap if your student is coming up short for next year, or help reduce the amount that your student will need to take out in student loans. Students should also be sure that they are applying for all of the UNL scholarships that they qualify for.

Determine housing needs
If your student is considering moving off campus or moving to a new apartment, make sure they can afford the rent. Many apartments require a 12-month lease, so an apartment may not be the best housing option for a student who is planning on moving back home during the summer. Compare and contrast costs and amenities for various housing options. If your student is thinking about moving off campus, be sure they are ready for the financial obligations and other responsibilities that go along with taking care of your own place.

As always, if you or your student have money questions, please feel free to contact the Student Money Management Center at 402-472-9093 or smmc@unl.edu.

More details at: http://go.unl.edu/qggi