Oklahoma Money Matters

1. Create a budget:
   Outline all your potential expenses, including tuition, books, housing, food, transportation, and personal items. Use this budget to track your spending and identify areas to cut costs. To get started, check out the FREE budgeting calculator on OklahomaMoneyMatters.org.
2. Fill out the FAFSA:
   Don't leave money on the table. Complete the Free Application for Federal Student Aid (FAFSA) to determine your eligibility for federal grants, work-study programs, and loans. Additionally, explore state and institutional financial aid options. Remember, grants and scholarships do not need to be repaid, so prioritize these over loans.
   
3. Search for scholarships:
   Scholarships are a great way to reduce college costs. Many scholarships go unclaimed each year due to a lack of applicants. Research and apply for as many scholarships as possible, including those offered by local organizations, businesses, and foundations. Even small awards can add up to significant savings. Find helpful scholarship resources at UCanGo2.org.
4. Consider starting at a community college:
   Starting your education at a community college can save you substantial tuition. Many community colleges have transfer agreements with four-year universities, allowing you to complete your general education requirements at a lower cost. Online courses can also be a cost-effective way to earn credits while maintaining flexibility.
5. Consider a job on campus--or find a job that offers tuition benefits:
   Many campuses offer work-study or assistantship positions that can help fund some college costs, like housing or food. Can't find a job on campus? Consider employers who provide tuition assistance. Click here for a list of employers to start your search. 
6. Live frugally: 
   Cutting back on non-essential expenses can significantly impact your budget. If possible, consider living at home or sharing an apartment with roommates to save on rent. Cook meals at home instead of dining out, and take advantage of student discounts on everything from textbooks to entertainment.
7. Take advantage of campus resources: 
   Many colleges offer free or low-cost resources that can help you save money. These include academic advising, career services, health and wellness centers, and campus events. Make the most of what your college offers to reduce out-of-pocket expenses.
8. Take 15 to finish:
   Taking a full course load each semester can help you graduate on time, reducing the overall cost of your education. However, be mindful not to overload yourself to the point where it affects your academic performance. Balancing a manageable course load with other responsibilities is key to success.
9. Borrow smart:
   Be cautious about taking on more debt than you need. Only borrow what you need to cover essential expenses not covered by grants and scholarships. Learn more at Borrow Smart from the Start. 
   

Managing college expenses is possible; it just requires careful planning. For more information about planning, preparing and paying for college, visit our friends at UCanGo2.org.

If you have money-saving tips you'd like to share, email us at OklahomaMoneyMatters@ocap.org or visit Ask OKMM to submit a personal finance question for a future edition of Financial Friday.

Thanks for participating in Financial Friday. Remember, there is always time to take control of your financial future!