Work-study is a federal- or state-sponsored program intended to help financially struggling students find part-time work. While a work-study program won’t cover all of your child’s financial needs, it can supplement their budget while providing invaluable work experience. When combined with scholarships, grants, savings and student loans, work-study can make a prospective student’s collegiate dreams a reality.

 

Notice I placed “student loans” at the end of that list? That’s because you and your child need to explore every avenue for financial aid before resorting to costly student loans. Due in part to grant aid failing to keep up with rising tuition costs, students in the U.S. cumulatively surpassed over $1.5 trillion of student debt in 2017 — a statistic you definitely don’t want your child to be a significant part of. Staying employed, either through a work-study or seasonal work, can offset the costs of college and reduce the amount of student loans that your child will need to apply for.

 

If you’re interested in finding the most up-to-date information on work-study programs and other employment opportunities, you’ve come to the right place. Read on for more details, as well as best practices for supplementing your income while enrolled in college.

Finding Employment

When exploring college payment options, the first step to receiving financial aid of any sort, including determining work-study eligibility, is to complete the Free Application for Federal Student Aid (FAFSA). To avoid letting your child get into a financial hole, look for employment opportunities before applying for student loans.

 

Applicants will be told if they are eligible for work-study as part of your award package, though work-study postings for Spring 2018 are already being listed by many institutions — so stay alert! If you’ve already declined the option, you can contact your college’s financial aid office to check if your child is still eligible. State work-study programs may also be available, so discuss options with your college and explore every opportunity.

 

Work-study jobs mostly consist of on-campus positions (though off-campus jobs are also available), and your job opportunities are dictated by your skill level and professional interests. The number of work hours that an applicant will be able to fulfill is also based on financial need. You can expect to earn at least minimum wage each hour, though you may earn more depending on the work involved. If you return to the same position year-after-year, you can expect a pay increase each year. On-campus jobs may also be available to students who do not qualify for work-study, so keep an eye open for job postings.

 

If you find that you or your child is not eligible for federal or state work-study, consider seasonal opportunities and summer work. Some common seasonal employers include retailers during the holiday season, tax preparation firms during tax filing season, and amusement parks during summer. If you are desperate for employment, seek out positions and companies that prefer to hire college students. For example, the United States Postal Service prefers to hire college students for their Casual Worker position — and at $20 an hour, such employed students can put a serious dent into academic costs.

Finding a Better Work-Life Balance

For some students, finding work seems like an inevitability. In fact, it may even feel like a rite of passage. Sure enough, it is an extremely common experience; as noted on Forbes, nearly 14 million U.S. undergraduate college students — nearly 78 percent of all undergrads in the country — work between 20 to 30 hours each week.

 

But some students avoid finding work, fearing it will affect their school work. Can working while going to school negatively impact your level of academic success?

 

Despite the commonplace nature of finding work while pursuing a degree, many students fail to find an adequate work-life balance. Adding a new set of responsibilities to your life requires that you carefully consider your priorities. Students need to plan out their schedule on both a weekly and a monthly basis. Time management apps can be a tremendous help in this process. Missing a work shift or a lecture — or, worse, a deadline for an important assignment — are not acceptable outcomes.

 

At a more holistic level, beyond avoiding scheduling conflicts, college students need to learn the concept of delayed gratification. Shifting from a high school schedule to a college curriculum comes with some major changes, and freshmen are often excited about the idea of having a few days each week without classes. This instant gratification can make it difficult for a student to feel eager about seeking employment.

 

However, picking up your first job as an undergraduate student can help offset the cost of tuition, and the professional experience gained through a work-study program can prove to be invaluable. Learning to set aside instant gratification for long-term benefits is an essential skill for college students — especially if they hope to achieve an effective work-life balance.

Supplementing Your Income

There are a number of ways to pay for school and related expenses, though some are considerably wiser than others. Before incurring additional debt through student loans and credit cards, seek out further grants and scholarships; the Free Application for Federal Student Aid (FAFSA) is not the only avenue for financial aid you should explore. There are a wide range of scholarships that you can find online, and depending on your skills, aspirations, demographics, and circumstances in life, you may be eligible for additional scholarships. These can be found and filtered on sites such as Fastweb and Student Scholarship Search.

 

However, there are a few tips to be mindful of when searching for additional financial aid. Fraudsters are constantly on the lookout for vulnerable marks, and prospective college students are a prime target. First, when looking into specific scholarships, do not give personal information such as your social security number or bank account number. This is a sign that the scholarship offer is a scam — immediately turn away. Similarly, if a scholarship requires an “application fee” or demands other fees, it might be a scam.

 

This additional funding can help pay academic costs, but what about daily living expenses? Of course, credit cards are an inevitably. Common wisdom dictates that using a credit card to pay for living expenses is a terrible way of avoiding debt. However, this isn’t necessarily the case. When used correctly, a student credit card can be a great help that won’t lead to a financial burden. As noted by Fiscal Tiger, there are two types of student credit cards, each with their own pros and cons:

 

• Prepaid debit cards: This type of card requires you to load the card with funds before you can use it. This is an excellent method for parents looking to regularly help their child with finances. Prepaid debit cards have no impact on a person’s credit score.

 

• Secured credit cards: If funds are too limited, a secured credit card may be the only option. These require regular monthly payments, and missed payments will result in a damaged credit rating. It is best to keep a zero balance on all credit cards to avoid incurring excessive interest costs.

 

When negotiating the difficult choice of which college to attend — or whether to attend college at all — finances shouldn’t restrict your child from reaching their full potential. With the right approach, you can strive to secure the finances needed to help your child attend college without the baggage of a mountain of student debt. A work-study program or seasonal employment could provide the income needed to overcome the obstacle of academic costs.