Your financial health is in your hands. But you’re not alone—
we’re here to help! Lela provides you with resources to confidently make smart financial decisions before, during, and after college. Below, you’ll find easy ways to maximize your money and learn how to make smart financial decisions in the future.
Definitely! More education means higher earnings—for life. Earning a college degree more than pays for itself over your lifetime. Over a 40-year work life, college graduates will earn $1 million more than those with only a high school diploma. Even higher financial gains are predicted after completing each successive level of schooling, with those obtaining professional degrees historically earning the most.
Maintain good grades to ensure that you qualify for financial aid.
In order to continue to qualify for your scholarships and financial aid (Pell Grants, work study, and student loans), there are specific criteria that you must meet. If you have been awarded scholarships through your college/university, be sure that you know—and adhere to—the requirements to maintain your scholarship. Otherwise, you could lose it!
Reapply for FAFSA every year.
Beginning October 1, 2016, college students should renew their FAFSA for the next school year online at www.fafsa.gov. Requirements have changed and students/parents are asked to submit their tax information on the FASFA from two years ago. This will allow the financial aid office to package your federal financial aid earlier and benefit you in determining your funds for college. If you need help completing your FAFSA or have questions, please contact askLela at 800.228.4755.
Instead of putting off paying your loan until after you graduate (and being charged interest in the meantime), start making payments now. There are plenty of ways to earn money while in college—and the more you pay now, the less you'll have to pay back later. Getting a job on-campus for a few days a week and working over the summer are easy ways to make extra money and get a head start on paying off your loan.
Research shows that students who work a moderate amount often do better academically. An on-campus job related to your career goals is a good way to help pay for college costs while getting experience.
Many colleges host high school programs on campus during the summer. Check with your Admissions office to apply for these positions.
You might have a general idea of how much your classes are going to cost this fall, but what about other expenses? Besides tuition and living expenses, consider some of the following line items that may appear on your bill at registration:
Technology Enhancement Fees
Activity Fees (Used for the library, school workout facilities, student centers, etc)
Don't be alarmed! Just be smart and save money for college so you will not depend on student loans to pay for additional mandatory fees.
Learning how to budget your money is important. Use the links below as resources to help guide your financial path to college and make your money count.
Learning to balance your checking account - and continuing to do so - is an important way to manage your money.
Credit cards, when used properly, can help you build credit and learn financial management skills.
There are links on this site that will permit you to leave the Lela site and travel to other, third-party sites over which Lela and the LPFA have no control. Lela and the LPFA make no representations whatsoever about the content of any of these other web sites or about any of the links contained in the web sites you may access through this site. Lela and the LPFA do not endorse or accept any responsibility for the content or use of any such linked web sites or any links contained in the linked sites. Lela and the LPFA are providing these links to you only as a convenience; the inclusion of any link does not imply endorsement by Lela or the LPFA.
The financial choices that you make now can greatly impact your finances in the future. You and your parents should check out these great resources for helpful tips and tools:
Get financially fit—before, during, and even after college! A little planning and a little saving can go a long way. Just ask Pete and Nate!
There are links on this site that will permit you to leave the Lela site and travel to other, third-party sites over which Lela and the LPFA have no control. Lela and the LPFA make no representations whatsoever about the content of any of these other Web sites or about any of the links contained in the Web sites you may access through this site. Lela and the LPFA do not endorse or accept any responsibility for the content, or use, of any such linked Web sites or any links contained in the linked sites. Lela and the LPFA are providing these links to you only as a convenience; the inclusion of any link does not imply endorsement by Lela or the LPFA.