Student Semester Budget Worksheet: Fill & Download for Free

When it comes to college I certainly support the idea that kids need to “have some skin in the game” and be financially responsible.In my opinion the way for them to “have skin in the game” is working—summers and maybe 10–20 hours per week each semester. Human nature is such that we value that for which we labor.The best way they can learn/demonstrate financial responsibility is by managing a budget.College Student Budget WorksheetTaking out student loans is very risky and should be avoided, if at all possible. Debt “owns” the student when they graduate, limiting their options. In this economy career outcomes are very unpredictable.Note:For the record I also think parents’ loans are a bad idea. You can’t borrow money to fund your retirement.

A2A,I’m assuming you’re talking about Undergraduate courses although most of it is very similar. I’ve heard MIT is extremely helpful and student friendly as far as these matters are concerned and you can seek help at their Student Financial Services department anytime. These are offiicial MIT links and will further help:Undergraduate Student Budgeting WorksheetMIT Registrar's OfficePayment DeadlinesHow to Pay Your BillHere’s how it works last I checkedOnce you accept an offer of admission from MIT, they’ll set up a student account in your name for charges/debits, such as tuition and fees, and for credits, such as family payments and financial aid. All undergraduate, graduate, special, and visiting students have a student account.They’ll bill you through MITPAY. Students are automatically granted access to MITPAY through the WEBSIS student portal, the details of which you’d get in an email. Authorised users (usually parents) must be designated by their student before they have access to view and pay the bill.They start billing for the fall term on July 10, the spring term on December 10 and the summer term on June 10. Most term charges, such as tuition, student life fee, student extended health insurance, on-campus undergraduate housing, and meal plans appear on the first bill for the term. Other charges such as on-campus graduate housing, Tech Cash, parking, MBTA passes, and library fines are billed monthly as they are incurred. Updated statements are posted the following month.If you are receiving financial aid—including scholarships, grants, tuition awards, fellowships, student loans—they ordinarily apply financial aid equally across the number of terms in your academic year. For most students the academic year is two semesters, fall and spring; but for some graduate students it may be three semesters, summer, fall and spring.Each time a new statement is available in MITPAY you and your Authorized Users will receive an email notification that it is time to view your bill. Payments are due by the 1st of the following month, unless other arrangements are made, such as the MIT Monthly Payment Plan. You may pay securely online through MITPAY, by wire, or by check.Hope this helps :)

Mr. Stagliano is giving you some good advice.Let me add a few ideas:Go to the library and get the book “Right College, Right Price.” With your parents help do the “affordability” exercise. The author has a unique approach to selecting a school. The short explanation is to pick a school that wants you. It’s not to early to start working on a budget and a financial plan.Study diligently in high school. Every “.1” added to your GPA increases your chances for a merit scholarship. (Full scholarships are very rare. A 3.0 GPA will not get you anything like a full scholarship.)Prep hard for your ACT or SAT. Money spent on tutoring can be a good investment.If possible, dual enroll while in high school and get some college credits on the cheap or free.Take AP tests. This can get you some college credits cheaply.Consider starting out for the first two years in a community college.OK? Now repeat after me, “I WILL IDENTIFY A MARKETABLE MAJOR.” If you don’t have a marketable major, you may end up without a good job in this economy. If you haven’t identified your major you are likely to need more than four years to graduate—every extra semester means more money.Going to a four year school and succeeding in today’s economy is tough because the cost is high and the good jobs are few. Get your parents on board.NoteHere’s my favorite Excel template for a college budget.College Student Budget Worksheet