textbooks

10 Ways for College Students to Save Loads of Money

Amanda Gokee — Tue, 23 May 2017 08:30:12 +0000

Between big expenses like tuition and housing, and smaller everyday expenses such as school supplies and coffee, the costs of being a student can rack up fast. According to the College Board, tuition, fees, and room and board at a public four-year in-state school cost an average of $20,000 a year.

But there are a lot of ways for students to save money. Here are 10 ways to tackle expenses of every size. (See also: 12 Easy Ways to Avoid Student Loan Debt)

Big savings

Tuition and housing make up the bulk of student spending, so finding ways to reduce those costs can pay off big.

1. Look at off-campus housing for lower rent

While living on campus can be a fun college experience, university housing often comes with a big price tag. Room and board at my private university cost approximately $10,000 a year — that's about $1,250 for the eight months school is in session.

You may be able to find more competitive rents off campus. Check websites for apartment listings in your college town.

Also talk with your university's housing department about opportunities for free housing that may be offered if you provide advising services to younger, first-year students. This could result in huge savings and be an interesting college experience.

2. Apply for scholarships to save money on tuition

Tuition is often the most expensive part of going to school, with some private institutions in the United States charging as much as $33,000 — and that doesn't include room and board. While federal financial aid can help, it's often not enough.

There are a plethora of scholarships available, both locally and nationally, that you can apply for. The best part is, unlike federal student loans, scholarships don't have to be repaid. To find them, check with your university's financial aid office, your high school guidance counselor, your parents' employers, and organizations related to your field of study. Also try using the U.S. Department of Labor's free scholarship search tool.

Medium savings

Textbooks, entertainment, and transportation all add significant costs to your overall college bill. Try trimming or offsetting these expenses with these suggestions.

3. Save on textbooks

Textbooks can have a very high price tag. When I was a student, I remember books costing up to $100, and sometimes even more for specialized course booklets that included all of the semester's reading assignments. With multiple classes and most classes assigning at least five books per semester, it was easy to spend at least $500 on books alone in a semester, or $1,000 per academic year.

Buying used textbooks is one way to save. In my experience, they cost about half the price of new books. You can buy books directly from students who have already taken the course or check online retailers like Amazon for deals on used books.

Another option is to rent your textbooks, which means that you will pay a smaller amount upfront to the bookstore, but that the book won't be yours to keep at the end of the semester. Chegg and Amazon both offer rentals, and both claim you can save up to 90 percent by renting.

Alternatively, you can cut out the cost of books entirely by checking them out for free at your college library. Supplies are limited, so you may have to wait to get the book you need, but you can't beat the price. (See also: 20 Places to Buy or Rent Textbooks)

4. Sell back your textbooks at the end of the semester

Chances are, you can get some of your textbook investment back by selling your books when you're done using them. You can likely make back a couple hundred dollars at the end of the semester. One easy option is to use Amazon, which has a streamlined process for buying back books for up to 80 percent of what you originally paid. Amazon will then sell the book used. You can also check with your university bookstore, as it may have a program in place to buy back books.

A third option is to sell the book yourself. By cutting out the middleman, you'll get to pocket more money from the sale. You can ask around, or post notices on bulletin boards or online to find other students who are going to take the same class. If the book is required reading, chances are you will be able to find a buyer fairly easily with just a little bit of extra work.

5. Participate in studies to earn cash

If you don't have the time to commit to a full-time job, there are plenty of ways to earn on campus without the commitment. Check in with different departments about research studies that they may be running.

These opportunities can range from writing tests to filling out questionnaires. Once, I was paid $100 an hour to have scans taken in an MRI machine.

6. Take advantage of free facilities

Familiarize yourself with everything your college or university offers on campus. You can save $50 and up a month on an expensive gym membership, for example, if you have access to this type of amenity for free as a part of your tuition. Some schools also offer free tutoring, software, legal services, and psychological counseling. All of these can save you money.

7. Reduce transportation costs

If you live off campus, consider ditching your car for an economic bicycle that will get you to class for free, saving you on the cost of gas, maintenance, and parking. Public transportation may be another way to get where you need to go without paying car and parking expenses. When you go home at the end of the semester, check with friends and on-campus forums to find out if you can find a ride with someone and split the gas costs.

Small Savings

Even small savings can add up. Check out these ways to pare your everyday expenses.

8. Save on coffee

Some college students have a costly coffee dependency, and at a cafe you can expect to spend as much as $3 to $4 on a coffee. If you are buying coffee once or twice a day, in a month you could be spending over $150!

While a coffee maker might cost you a little bit up front, if you are a big coffee drinker it will pay for itself within the first month. Plus, with Italian coffee makers (around $30, depending on which size pot you choose), you can get stronger coffee and a better buzz for late night studying or just getting to your 5 o'clock class.

The Handpresso is a handheld espresso machine that is as convenient as it is cheap. Simply pump, add boiling water, a coffee pod or loose espresso grounds, and press a button for delicious coffee. Based on my experience buying ground coffee and milk in the grocery store, an Americano with milk only costs around 30 cents per coffee using this machine.

If you make two 30-cent coffees per day, rather than buying two at $3 a cup, by the end of the year you could save nearly $2,000 in coffee expenses!

9. Find free events and entertainment

Check if your university offers free lectures, movie screenings, concerts, or other arts events instead of paying big bucks to go to ticketed events. You'll be surprised how much you can do for free with just a student ID. Signing up for a newsletter will help you to stay on top of the cool speakers that the university is hosting.

Also use your college library, not just for studying but for entertainment options. Take advantage of newspapers, magazines, and movies that the library offers you to check-out, all completely free. By opting for this type of entertainment and reading materials, you can save a lot of money. With the average movie ticket costing around $9, if you instead go to two free movies per month or watch DVDs from the library, you'll save over $200 by the end of the year.

10. Stay in style for less

Trends move fast, and buying new clothes all the time can add up to significant costs for students. You don't have to completely forget about fashion for four years to stick to a tight budget. Check out thrift stores for fashions at a tiny fraction of the cost of new clothing. Also, find out about consigning the items you no longer want at the end of the semester.

Doing the math

Each item on this list may not seem like a lot — a coffee here, a movie ticket there — but when you add it all up over the course of the year, it can mean big savings for students. It's worth the effort to examine which of these costs you could cut, and then start realizing those savings.

This article is from Amanda Gokee of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

9 Freshman Shopping Tips to Cut College Costs

Mikey Rox — Thu, 18 Aug 2016 10:30:07 +0000

Strapped for cash as a freshman? If not now, you will be soon. That goes double for your parents, who are likely footing a portion of the bill — from tuition to room and board to all the living essentials you'll need when you move into the dorm. To make the transition from high school to college just a little easier on the wallet for both you and your obligatory benefactors, here are a few ways to cut costs as you head into the first year of university.

1. Don't Buy What You Already Own

At the beginning of every school year, students get a list of suggested (and some mandatory) supplies that they'll need for the year. The good news for you is that you've been in school for 12 years now, and you probably already have more than a few things on the freshman list. That means you don't need to spring for new items if the ones you already own are in good condition.

"The extensive list of recommended dorm room essentials will make your head spin and your wallet disappear," money-saving expert Andrea Woroch quips. "While some suggested items like 'bedding to fit an extra long twin mattress' are necessities, items like towels, hangers, and pillows can likely be packed from home."

Also, use common sense and identify items you can cross off the list indefinitely, like a drying rack for laundry (you can hang your clothes around the room) and any stand-alone device that's also in your phone: alarm clock, camera, calculator, MP3, etc.

2. Split Big-Ticket Costs With Your Roommate(s)

If you want a few conveniences of home in your dorm room — like a fridge or microwave — considering going halfsies with your roommate(s). Contact your roommates ahead of time to discuss those big-ticket purchases that will be shared among everyone, and how to effectively split the cost. Consider downloading a bill-splitting app to simplify this process. (See also: 5 Modern Ways to Split the Bill)

3. Stock Up on Penny Deals

"When it comes to basic school supplies like pens, notebooks, folders, and sticky notes, it's best to search for penny deals offered during the back-to-school shopping rush and watch for rotating discounts every week," Woroch suggests.

I've seen these types of deals at several popular retailers lately, including Target, Wal-Mart, and Staples, though they're not limited to these stores. Hit them at the right time and you'll walk away with much of what you'll need for classes — pens, pencils, notebooks, and more — for just few bucks. You also can access circulars online or via the Flipp app for quick comparison.

4. Treat Your Old Wardrobe Like It's Brand-new

Everybody loves to go back-to-school clothing shopping. Heck, I'm 35-years-old and I still use this time of year as an excuse to freshen up my wardrobe. If you're on a tight budget, however, consider that your existing wardrobe will be brand-new to everyone at college since nobody has ever seen you before. If you must add a few new pieces to your closet, shop end-of-season sales, clearance sections, or pop into a few secondhand shops (some of which can be found online today).

5. Eat Where It's Free or Discounted

When I was in college, my friends and I had a propensity for buying late-night pizza or bingeing on junk food in our rooms all hours of the day. The problem with this strategy (besides its quick contribution to your Freshman 15) is that it costs a lot of money.

To trim some of this expense, eat most of your meals in your cafeteria and take small items back to your room for later, like fruit, bagels, chips, or fixings for peanut butter and jelly sandwiches. Or, if you're super stealthy, bring an empty food storage container and confiscate heartier meals, like chicken fingers, salads, and your other favorites to scarf down when the cafeteria is closed. If you do plan to go out to eat, identify nights that are easy on your wallet, including half-price apps at happy hour, student nights, and special dish night, like 25-cent wing night or the like.

6. Rent Your Textbooks Instead of Buying Them

Before you buy your textbooks outright, I want you to ask yourself one question: What will you do with that book when the course is over? Your answer is nothing — except sell it back for a mere fraction of the price you originally paid. And that's if you can even sell it back at all. Publishers are really great at "updating" textbooks and discontinuing previous editions so that the school can require you to purchase the latest version. Because what're you going to do, drop out of school? Uh huh — they've got you right where they want you.

Alas, two can play that game. Woroch explains.

"It's no surprise that textbooks represent the biggest line item in your college budget," she says. "The National Association of College Stores (NACS) estimates the average student spends $655 on these study essentials every year. To save big bucks, skip the overpriced campus store and head straight to an online textbook rental site such as Chegg and Campus Book Rentals to save over 70%. To ensure you're not slapped with any fees at the end of the semester, keep the book in pristine condition and avoiding highlighting or marking up the margins."

7. Go Grocery Shopping in Groups

Need to stock up on groceries? Get a group together — which is especially helpful for those who don't have vehicles on campus — and charge a couple bucks per person for gas. At the store, buy the things you'd like for yourself, but go in equally for items that may be shared by the group, like cereal, coffee, chips, and ramen.

8. Use Your Student ID Everywhere You Go

One of the best parts of being a student is using the student discount wherever it's available. I kept my student ID for years after college, and that granted me savings on clothing, movies, food, electronics, and more for years well past its prime. Of course, you should take advantage of it while you're in college, too. As a general rule of thumb, before you purchase anything anywhere, ask if they offer a student discount. Many establishments do, and that simple question will keep more money in your pocket.

9. Search for Open Box or Refurbished Electronics

In a recent survey, the National Retail Federation found that many colleges and universities require incoming and current students to bring their own computers, so a new laptop is likely on the top of your shopping needs. Instead of investing in the newest and most expensive model, search for open box or refurbished options. Best Buy typically has open box items set up on their salesroom floor, while online vendors such as Newegg have webpages dedicated to these lower-priced options with discounts on open box laptops ranging from 10% to 40%. Apple also offers refurbished MacBooks and iPads, so always check these options before you buy.

Are you heading into your freshman year of college, or have a kid who's starting their freshman year? How are you saving on supplies and other essentials? I'd love to hear from you in the comments below.

This article is from Mikey Rox of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

8 Money-Saving Hacks Every College Student Should Try

Ashley Eneriz — Mon, 15 Aug 2016 09:30:24 +0000

Don't let the costs of college loom over your head. Use these seven financial hacks to cruise through college and save thousands off your overall experience.

1. Rent Your Textbook Through Amazon

No need to buy every textbook, especially with Amazon's rental textbook program. My sister rents all of her textbooks through Amazon and saves $50–$100 off each book. For example, she rented Multicultural Education in a Pluralistic Society (9th Edition) for a recent class for $37.45. The new price of the book is $138.47 and the used price is $67.48. Amazon Prime covered shipping costs.

2. Research Book Costs Before Enrolling

When you first start taking college classes, you will have more flexibility over which classes you can choose, especially when you need to fulfill the GE requirement of your degree. Choose your class based on textbook and material fee cost, if possible. I signed up for a psychology class in my freshman year, but the textbook was written by the teacher and would cost $190. Since there was not a way find the book used, I dropped the class within the acceptable time period and took another class that fulfilled the requirement and had $20–$30 in book costs.

Often you can borrow the textbook from the university library. At my school, the recent edition textbooks were only lent out for in-library use for an hour, but that was usually enough time to finish my work.

3. Piggyback Your Degree With Community College Courses

I graduated debt-free, and one of the major things that helped me do that was the abundance of community college courses I was able to take. My university allowed 70 community college transfer units. With the help of online classes, I was able to enroll in two local community colleges that increased the type of classes that I could transfer to my degree.

I simply looked up agreements between my university and my two local community colleges and took as many classes as possible. One semester, I was enrolled and taking classes at three colleges at once. This also allowed me to take more than 18 units, which allowed me to finish my degree in three years, instead of four. All of this saved me five semesters at my university, which means I saved roughly $20,000.

5. Test Out of Classes

Research the possibility of testing out of some college classes. This can help you avoid boring and costly introduction classes that you already are knowledgeable in. The College-Level Examination Program (CLEP) is accepted by over 2,900 colleges. The CLEP site allows you to search which colleges allow which test, though you will have to find out the maximum amount of credit your university allows through CLEP. The test costs $80, but military personnel may be eligible to receive funding for the cost of CLEP exams.

6. Check Out Local Thrift Stores

Shop at thrift stores that are near your university for a better chance to find apparel with your college's logo on it, as well as still-relevant textbooks. You can score both inexpensively, and either keep them for yourself, or sell them for more online or to other students via sale fliers on the campus' public bulletin board.

7. Become a Resident Assistant (RA)

Movies usually portray resident assistants as overbearing college students who have been on campus for almost a decade. However, the job can be fun and the free rent is definitely a perk that will save you $8,000 to $12,000 a year. Know that these positions are usually competitive, so make your application stand out, and volunteer for other on-campus events to show you have school spirit.

8. Get on a Family Plan

There are many different family plans that you can share to save money. The most popular family plans are offered through cellphone providers. Being on a family plan rather than on your own individual plan can save you $50–$100 a month off your cellphone bill.

Family plans are not just for cellphones, though. You can save money by sharing TV streaming, Amazon Prime, Uber, and more. (See also: How Family Plans Can Save You Tons)

College is expensive, but that doesn't mean you have to drown in debt to get your degree. Living frugally and minimizing living costs in college will make it easier to once you graduate.

What are your favorite ways to save money while in college? Already a graduate? Share your experience of frugal college living.

This article is from Ashley Eneriz of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

8 Things You Should Always Buy Used

Dan Rafter — Fri, 11 Dec 2015 12:00:04 +0000

Sure, everyone loves the smell of a new car. And there's something appealing about the thought of a brand new home that hasn't suffered the wear-and-tear of past owners. But there are some purchases that you should never make new, no matter how tempting. Here are eight items that you're better off buying used. (See also: 10 Things You Should Never Buy Used)

1. Cars

You've heard that a new car starts losing value as soon as you drive it off the lot. That's not a myth — it's a fact. Just as importantly, new cars cost thousands of dollars more than vehicles that are just one model year older.

Here's an example: TRUECar says that dealers are offering the 2016 Subaru Forester SUV for about $25,000. The same website found a 2015 Subaru Forester for $23,000. You could save $2,000 just by buying a new car one model year older. If you're willing to go with an even older model, you'll save more. TRUECar listed a 2013 Forester for $18,556.

2. Homes

It might seem tempting to buy a new home. You won't have to worry about a 10-year-old water heater suddenly bursting, or a 15-year-old roof springing an unexpected leak. But new homes are also more expensive than existing ones.

The National Association of Realtors reported that the median price for existing homes across the country stood at $221,900 in September. That's 6.1% higher than where this figure stood in September of last year, but it's still lower than the median sales price for a new home.

According to the Federal Reserve Economic Data gathered by the Federal Reserve Bank of St. Louis, the median sales price for new houses sold in the United States hit $296,900 in September of this year, more than $70,000 more than the median price for existing homes.

3. Textbooks

If you're a college student, you should know this already — but it rarely makes sense to buy textbooks new. (See also: 20 Places to Buy Used or Rent Textbooks)

The College Board estimates that the average college student in the United States spends about $1,200 a year on textbooks and supplies, while the Government Accountability Office reported that from 2002 through 2013, the price of college textbooks jumped 82%. Then, when students sell these books back at the end of the year, they often receive just pennies on the dollar.

The better move is to hunt for used versions of these textbooks. It can save you hundreds of dollars a semester.

4. Pets

It always makes financial sense to buy a "used" pet from your local humane society. It may not even cost anything to adopt your new companion from the shelter.

Buying a pet from the humane society is also a good thing to do. The ASPCA says that about 2.7 million animals are euthanized each year — 1.2 million dogs and 1.4 million cats. If you adopt from your local animal shelter, you'll do your part to reduce these numbers.

5. Baby Clothing

Here's a truth about baby clothes: Your infant will barely wear each of the fuzzy outfits you buy. That's because babies grow so fast that they're constantly — and rapidly — getting too big for their outfits.

This is why it makes financial sense to purchase your baby clothes used. You can save a bundle when compared to buying new. And if you end up with some outfits that aren't your favorite? Don't worry, your baby will outgrow them quickly enough.

6. Furniture

Furnishing a new home or apartment can cost a small fortune. But you don't have to overspend on a couch, loveseat, or end table if you buy them used.

There are plenty of sources for used furniture. You can find value-priced items at estate sales, antique stores, flea markets, and yard sales. Sure, you'll be sitting on a sofa that many others have sat on before, but think of how much fatter your wallet will be.

7. Tools

You don't need the latest year's screwdriver, do you? You don't need a shiny new hammer, either. Tools are one of the best items to buy used because there's little difference between a 10-year-old hammer and one manufactured yesterday.

As with furniture, you can find plenty of used tools at garage and estate sales. You can also hunt sites such as Craigslist for deals. But you should draw the line at tools with motors and moving parts. You don't want to buy an old power tool that might malfunction and leave you with a few less fingers on your favorite hand.

8. Musical Instruments

Ask parents who've had to buy their children tubas, baritones, or saxophones for the elementary school band: Musical instruments are pricey.

If you buy these instruments used, you can save a bundle. And many of the used trumpets, clarinets, and guitars that you buy will have been refurbished so that they feel like new. Many of these used instruments have rarely been played before hitting the resale market.

What products do you like to buy second-hand?

This article is from Dan Rafter of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

8 Ways College Students Can Save Money Before Class Starts

Kyle James — Fri, 28 Aug 2015 17:00:32 +0000

College tuition and housing is expensive enough on its own. But then you start adding up all of the other college costs, both in and out of the classroom, and things can become quite overwhelming. Fortunately, there are ways to save significant money on expenses if you do some planning and look for out-of-the-box ways to save. (See also: 40+ College Resources for Parents and Students)

1. Buy Textbooks Used

News alert: Brand new college textbooks are really, really expensive. Fortunately, the ease of shopping online has created an excellent way to buy gently used textbooks at a steep discount. We're talking over 75% off the retail price of new books and savings in the range of $1,000 over the course of an academic year. A few excellent online resources worth exploring include Chegg, eCampus.com, AbeBooks.com, BigWords.com, and even Barnes & Noble has entered the used textbook field. (See also: 20 Places to Buy or Rent Textbooks)

You can also sell back used textbooks for a pretty decent return, so be sure to take care of the books as condition is a huge factor when determining how much you'll get back at the end of the semester. If you don't want to buy your books, you can also look into renting them for the semester and saving a good chunk of change in the process. A few resources worth exploring include TextbookRentals, BookRenter, and Amazon.

2. Ask About Student Discounts

When buying items like clothing, shoes, backpacks, and laptops in preparation for the upcoming school year, it would really benefit you to ask about student discounts. A few examples of discounts available include 20% off your order at Banana Republic, 15% off at J. Crew, and even 10% off at your local Goodwill. When it comes to buying tech, Best Buy, Apple Store, and Dell all have student-specific online programs that offer significant discounts. Apple, for example, is currently offering $200 off a new MacBook and up to $20 off an iPad.

Typically, all you need to get the discount is your student ID. If you're a freshman and don't have an ID yet, just bring along your registration letter, or something similar, to prove your student status. Make it a healthy habit to always ask about student discounts when shopping anywhere. Also, be sure to ask when dining out as many restaurants offer unadvertised discounts to students.

3. Find Free or Cheap Transportation

Many colleges and universities team up with local bus authorities to offer free bus rides for students. Many incoming students are not made aware of this. Speaking from my own experience, I was a sophomore in college before I realized I could ride the local bus for free. Once you get on campus, ask around about this possibly free, or highly discounted, transportation method. Not only will you save on gas, but you'll avoid all of the other costs that come with maintaining a vehicle while in school.

4. Call Your Roommate to Avoid Duplicate Purchases

I'll never forget showing up on campus and meeting my first college roommate. It turned out we had quite a bit in common, including ownership of a microwave, mini-fridge, and 27" tube TV. If only I had called him ahead of time to see what stuff he was bringing, it would have saved me significant money. After all, no dorm room ever built has enough room for all your stuff and it's silly not to share. Lesson learned the hard way. Always communicate with your future roommate and determine what items you actually need to buy.

5. Choose the Meal Plan That Works for You

I can remember a friend during my college days who paid for three meals a day (21 meals a week) in the school cafeteria but typically only went 10-15 times per week. At the time, I figured we was blowing close to $50 a week on uneaten meals, not including the money he spent eating out and at the grocery store. Always consider your eating habits when deciding on the right meal plan for you. For example, if you tend to skip breakfast and grab a bagel on the way out the door, you'll want to adjust your meal plan accordingly. Also, if you like throwing a sandwich together for a light lunch and have classes scheduled during lunch hours, you'll want to adjust your plan as well. Bottom line, don't blindly sign up for a meal plan without considering how much of the plan you'll actually use.

6. Research the Best Cell Phone Plan

You can also save significant money by researching the best cell phone plan that meets your specific needs. Simply adding another line to a family plan is not always going to give you the best deal. Or perhaps you're in a situation where that is not even an option. If you tend to use very few talk minutes (100 or less per month), you should consider a T-Mobile prepaid plan. For a very affordable $30 a month, you get unlimited web and text, 5GB data at 4G speeds, and 100 talk minutes. I have this no-contract plan and absolutely love it.

If you're a big talker and texter, but don't necessarily need high-speed data because of free college Wi-Fi, consider Cricket Wireless. For only $25 per month, you get unlimited talk and text, all with no annual contract. If you need a data plan, you can upgrade to 2.5 GB for an additional $15 per month. You can either buy a phone directly from Cricket, or save money by scoring a deal on an unlocked used smartphone on eBay.

7. Set up the Right Student Checking Account

Never blindly accept the bank or checking account recommended by your school. In many cases, they're loaded with hidden fees and often times the college or university receives a kickback for promoting the bank, making it a biased recommendation. It's important to do some independent research and find the right checking account for you. Look for student checking accounts that have no fees for debit transactions, branches near campus so you avoid out-of-network ATM charges, and no monthly fees when a reasonable account balance is maintained.

Also, if you're comfortable doing your banking via your smartphone, consider using an online mobile bank like Capital One 360. The lack of physical branches is more than made up for by the lack of fees along with a decent interest rate. No overdraft fees, no minimum monthly balance required, and all completely FDIC insured. Are you worried about not being able to get quick access to cash? Don't be, as Capital One has over 2000 ATMs in addition to 38,000 fee-free ATMs account users can use. (See also: Best Online Checking Accounts)

By doing your due diligence and researching frugal ways to save on college costs, you can definitely lower your stress level when it comes time to pay your monthly bills. After all, balancing college life and your studies can be stressful enough without worrying about finances too.

What other tips do you have for saving money on college expenses?

This article is from Kyle James of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Best Money Tips: The Best Sites for Renting and Buying Textbooks

Ashley Jacobs — Thu, 28 Aug 2014 20:06:55 +0000

Welcome to Wise Bread's Best Money Tips Roundup! Today we found some stellar articles on the best sites for renting and buying textbooks, steps to financial prosperity, and things you should know about the U.S. economy.

How to Score Free (or Almost Free) College Textbooks

Mikey Rox — Mon, 02 Sep 2013 10:36:29 +0000

College is expensive, and I'm not just talking about the sticker shock of tuition. There are other costs, some that you might not consider at first. There's the expense of decorating and giving your dorm room style and personality, plus the daily cost of food if you're not on a meal plan. And an even bigger expense — textbooks. (See also: Save 20-100% on Textbooks)

Don't think that you're going to walk into a campus bookstore and pay $30 for a book — you'd be lucky to find a book this cheap. College-related miscellaneous expenses can vary by semester, with the average cost for books and supplies starting at $1,200 for public and private colleges, reports College Board.

Not exactly good news if you're on a tight budget. However, college textbooks don't have to break the bank. The campus bookstore isn't your only option. Get creative and you might score free textbooks — or at least cheap books.

1. Check Out Your Library's Selection

Since you'll use your main textbooks for the entire semester, you may not think to check the selection at your campus library. But along with your main textbook, your professor may include a list of other books — books that you may not need the entire semester. (See also: 4 Reasons Why You Should Support Your Local Library)

"After arriving to campus, students should go to their college library as soon as possible with a list of the textbooks needed, and if the library has the book, inquire about checking it out." says, Jon Lal, founder of BeFrugal.com.

Given the fact that you may only need a particular book for a few lectures, it doesn't make sense to spend your hard earned money. If the book isn't available in the library, see if your school is part of a lending consortium — you might be able to borrow the book from another school's library.

2. Network With Other Students

Befriend others in your major, and you may never pay full price for a textbook again. Opening your mouth and doing a little networking is an excellent way to get free or cheap textbooks. Maybe you know people who took the same class last semester. They might sell you the book at a price cheaper than the campus bookstore. And if you have old textbooks in your possession, you might be able to negotiate an even-exchange swap.

According to Lal, Yerdle.com is a great place to see if your Facebook friends have a copy of the book you need. Or you can use sites like Bookfreeswap.com, BookMooch.com, and Freebookexpress.com to exchange used books with other students.

3. Get the eBook

If you're on a budget and don't have a lot of cash, skip the laptop and go with a tablet computer. These devices are affordable, lightweight, and great for studying, and they can fit inside your backpack. (See also: Use an iPad as a Laptop)

"A tablet can provide value to students well beyond its small price tag," says Lal. Download apps, access electronic textbooks, or search the Internet. You can even purchase a keyboard to create and save documents more easily.

With a tablet, getting your textbook in ebook form might be easier than you think. Several resources are available to you — many at no charge. For example, the Internet Public Library offers free access to classic books, and if you search the Internet Archive, you'll gain access to more than 2,500,000 items.

Lal also recommends the Project Gutenberg Literary Archive Library Foundation, a non-profit with free novels and textbooks downloadable to a computer or tablet, or you can access free ebooks and PDF textbooks through BookBooN.com and TextbookRevolution.org.

4. Rent Your Books

If you buy your books there's always a chance that you won't be able to resell at the end of the semester. And since you're not likely to open the book once you finish the class, why waste $100 (or more) for one book?

Buying books online can be cost-effective, but this might not offer the best savings. Renting books from stores, such as Textbook Stop, TextbookX, Book Renter, and Bookbyte can help you stay on budget. For greater savings, search online for a free coupon code. You might be able to take a percentage off your rental or receive free shipping.

5. Earn Cash Back on Books

You probably won't find free or cheap copies for all the textbooks on your list, but even if you only score one free book, that's cash you don't have to spend. (See also: 17 More Places to Buy, Sell, and Trade Books)

Whether you rent, buy used, or purchase new, pay for your textbooks with a rewards credit card, if possible. This way, you earn cash back or points on every purchase — regardless of whether you're online or in-store. Cash back earnings can help offset the cost of expensive college textbooks.

But don't only pull out your credit card when you're buying books. To maximize your savings, use the credit card for groceries, gasoline, and other miscellaneous expenses. Build up your cash back reward balance, and by next semester, you might have earned enough to cover the cost of all your books — just make sure that you pay off your credit card balance in full each month. (See also: Great Credit Cards for College Students)

Do you have other tips for saving on college textbooks? Let me know in the comments below.

This article is from Mikey Rox of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Best Money Tips: Ways to Save Money on College Textbooks

Ashley Jacobs — Mon, 10 Sep 2012 10:00:41 +0000

Welcome to Wise Bread's Best Money Tips Roundup! Today we found some awesome articles on saving on college textbooks, never wasting money on spoiled food again, and surprising times when your credit counts.

How to Save 20-100% on Textbooks

Stacy Johnson — Wed, 06 Jan 2010 15:00:03 +0000

Since I graduated from college some time ago (I won't embarass myself by saying exactly how long) I had no idea that textbooks had gotten so expensive. How expensive? Well, according to a 2005 study by the General Accounting Office, the average estimated cost of books and supplies per first-time, full-time student for academic year 2003-2004 was $898 at 4-year public institutions, or about 26 percent of the cost of tuition and fees. At 2-year public institutions, the average estimated cost of books and supplies per first-time, full-time student was $886 in academic year 2003-2004, representing almost three-quarters of the cost of tuition and fees. And that was five years ago!

Why is the cost of books and supplies increasing at such a rapid clip? Read all about it in articles like this one from Wikipedia. But as far as this course is concerned, the "why" is academic. This mini-course isn't about finding fault; it's about finding deals. Check out the following TV news story, then join me on the other side for more details.

So the simplest way to get a free textbook is from the school library or your professor. Since supplies will be extremely limited in either case, best you hit these two options the instant you know your schedule. If neither of these ideas work, head for the web. Here are links to the sites I mentioned in this story in order they were mentioned.

Sites where you can download out-of-copyright (old) books:

Sites where you'll find a limited number of free textbooks for online reading or downloading:

Site that offers free, advertiser-supported textbooks in .pdf format: (There's a half-page ad every 3 pages.)

Bookboon

Sites where you can swap textbooks with other students:

Textbook Revolt (Note: this site was a swapping site, but is now apparently morphing into a rental site.)
Bookins
Swaptree

Sites where you can find all manner of free stuff, including textbooks:

These are the sites you might find free textbooks; whether you actually succeed is a function of how hard you look and how common the title you're looking for. And if you're thinking of a swapping site, beware of the pitfall of any online transaction: fraud.

If you can't find what you're looking for on a free site or a swap site, what then? Time to try a rental.

Textbook Rental

There are several sources for textbook rental. The first place to try is your college bookstore. The cost to rent a book should be no more than half the price of buying the book; hopefully less. You might find a better deal online -- two popular rental sites are Chegg and BookRenter. The downside of book renting is the same as with renting anything: you don't own anything when it's over and you've got to keep it in great condition. One way to avoid the wear-and-tear issue is to rent a digital copy. You can find these at CourseSmart -- they claim to have more than 8,000 textbooks available for digital download at savings of up to 50%. You can print out up to 10 pages at a time and the license to use the book expires after six months.

Buying Overseas

As with drugs, some publishers sell cheaper overseas. And some booksellers re-import international-edition textbooks and offer them at prices less than in the US, which means you might find a bargain. One site that features international editions is AbeBooks.

There are two potential problems with international editions of textbooks. First, you've got to be sure that the international edition is the same as the domestic one (your professor might know). Also, be aware that some people aren't happy about the reimportation of international edition textbooks, since pretty much everybody from the author to the campus bookstore makes less money as a result. If you want to read more about the controversy, see the Wikipedia page I mentioned earlier.

Buying Used

Used textbooks can often be found at the campus bookstore, not to mention campus newspaper classifieds and bulletin boards. But you should also check sites like Craigs List, eBay, and Amazon. Just be sure you're buying the edition you need -- textbooks are revised often.

Shopping for Savings

When you shop at the campus bookstore, it's convenient, and they'll have the textbook you're looking for. But like buying your groceries at 7-11, convenience often comes at a cost. So shop for savings on books the same way you (hopefully) do for every other expensive purchase you make: do a quick online search at sites like Amazon, BarnesandNoble, Half, ecampus or others (do a search for textbooks and you'll find tons). Or use a textbook shopping bot like GetTextBooks and DirectTextBook.

Comparison shopping is a fairly simple way to save 20% or more on new book purchases and a way to perhaps find a used version for even greater savings.

Bottom line? The cost of both tuition and textbooks has been outpacing inflation for many years. It's not fair, but don't get mad, get smarter. View the challenge as an opportunity to learn a life lesson. Confront costs by combining creativity and legwork, and you can have the things you want for less.

Can You Save Money by Renting Textbooks?

Xin Lu — Sat, 05 Sep 2009 01:10:23 +0000

When I went to college it was unheard of to rent textbooks, but a number of outfits such as Chegg, Campus Book Rentals, and BookRenter.com have sprung up in the last few years that allow students to rent good quality textbooks at a fraction of the purchase price. Additionally, some book publishers are also getting into the business of renting out textbooks at campus bookstores. As an experiment, I checked out these sites to see if it is really worthwhile to rent a textbook.

Example 1: A classic book

I graduated from college just four years ago, so a lot of the textbooks I had are still being used in classrooms. First I looked up the classic computer science text Structure and Interpretation of Computer Programs 2nd Edition by Abelson and Sussman and I selected the rental term of one semester. One semester is 125 to 130 days on the three book rental sites Chegg, Campus Book Rentals, and BookRenter. The rental prices are:

Chegg: $40.06
Campus Book Rentals: $44.68
BookRenter: $63.86

As a comparison I looked at Amazon, and the price to buy a new copy is currently $68.80 and the cheapest used copy is $40.00. This tells me that a student could potentially do better than renting by just buying the book and then reselling it later. It gets even better when you search for this particular book in Google, because MIT Press has been offering the entire book for free online for a few years now. In this special case, free wins hands down.

Example 2: A book with a brand new edition

Next I looked at Introduction to Algorithms by Cormen, Leiserson, Rivest, and Stein. This popular computer science text is also commonly referred to as CLR or CLRS for the authors' initials and a new third edition just came out this year. The rental prices for one semester are:

Chegg: $58.55
Campus Book Rentals: Out of stock currently
BookRenter: $75.69

So far it seems that Chegg has the best rental price, but when I went to Amazon I found that buying a new copy only costs $62.64 with free shipping. In this case it actually costs more to rent the book at BookRenter. Although renting at Chegg is about $4.00 cheaper than buying, I am sure you can sell the book for more than $4.00 after using it because it is brand new and chances are it will be used again next semester.

Example 3: A book that is a couple years old

Next I looked up Physics for Scientists and Engineers Volume II 4th Edition by Giancoli which came out in 2007. When I went to college I borrowed the third edition of this bulky book from the engineering library and kept it in my locker. The rental prices are:

Chegg: $31.25
Campus Book Rentals: Out of stock currently
BookRenter: $59.41

Once again, Chegg wins on price and availability. BookRenter actually charges almost twice as Chegg for the same rental period for this particular book. On Amazon the book is selling for $86.16 new, and the cheapest used copy is around $47 right now. In this case it seems that the best deal is to rent from Chegg since the difference between buying and renting is quite big and even the used copies are more expensive than the rental price.

Conclusion

My takeaway from this experiment is that it is possible to save money by renting a textbook, but how much you can save depends on the particular book. It seems that brand new books are generally more expensive at rental sites, and it may be more economical to buy these and resell them while the resale value is still high. Older books are more likely to be freely available online or in libraries so it is better to check there first. The sweet spot for rentals seems to be books that are a couple years old such as the last book I looked up. It may make more sense to rent these books because their resale values might suddenly drop due to upcoming new editions.

Additionally, textbook rentals are great for people who do not want to deal with reselling books after a class ends. It is easy to just get rid of the book in the return box provided by the rental companies. I like the idea of renting a book because it encourages reuse, and Chegg actually plants a tree for each book you rent, buy, or donate so that makes the earth a little greener. The bottom line is that renting a textbook is definitely an option for saving some dough during school, but you still have to comparison shop a little bit to get the best deal.

Disclosure: This post contains affiliate links to the books mentioned and Chegg.

This article is from Xin Lu of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Back to School: The Case for majoring in English

Maggie Wells — Fri, 22 Aug 2008 23:46:11 +0000

Let me preface this by saying I’m an online instructor. Nearly every student I come in contact with is either a child development, information technology, criminal justice, business, nursing, or psych major. Occasionally we would get a liberal studies major intent on teaching elementary school. But in the realm of online majors, that’s pretty much it.

(I won’t even go into the whining from my students as they write persuasive essays regarding their fear of immigration and all of India coming over to take their jobs. You want HB-1 visa immigrants to stop taking your jobs? How about majoring in science, engineering, and math? Too hard? Alright then. Shush. )

Today’s online student and increasingly today’s traditional student as well, is treating college not so much as a place of higher learning, critical thinking, and broadening of the mind, but instead a vocational training ground for what are sometimes non-existent job prospects. Remember in the early 90s how everyone was a graphic arts major? Welcome today’s version of criminal justice. My husband is in IT and we've watched companies get rid of their in-house IT people left and right.

Students are spending thousands for very specific majors. Textbooks for these majors can amount to $90 for a paperback book. In four years, the jobs they are training for might be gone, curtailed, or outsourced. I don’t want to burst their bubbles. I say nothing. And personally, except for nursing which truly does have a shortage, I don’t know that I’m too keen on there being more cops, more self-esteem boosting majors like Child Dev. and Psych. I mean, isn’t the great American problem that we can’t take a freaking joke?

So with this all in mind, I offer the best major of all American majors—the one with the most job options, cheapest on books, and frugal on investment—the English major. Don’t laugh. Hear me out. You need reasons?

While in school these are the frugal and quality of life perks you can hope to enjoy.

•Textbooks. While still in college being an English major already saves you money. While most of your fellow college students are schlepping off to the campus bookstore to buy textbooks only found there or on a few college sanctioned websites at jacked up prices, you get to squander hours in used book stores and Amazon and eBay. I have an Elizabethan Prose and Poetry book that retailed in a college bookstore for $65 in 1990 which I bought used on the top of some dusty used book shelf for $2. You don’t really have to worry about which ‘editions’ you pick up. Most of things you’ll be reading are from dead people with little or no royalties owed them. And after your initial surveys you can take things in any order. My best friend sprung for the big Riverside Shakespeare edition in the fall semester and then I borrowed it from her to take the same class in the spring while she borrowed all my Milton. English is the cheapest major for books.

•Depression. While in college, you tend to be less depressed as an English or World Lit major—saving you valuable cash money that could otherwise be squandered on therapy. You get to read Crime and Punishment, so you don’t need therapy. Dostoevsky spells it out for you. That sounds weird doesn’t it? My most depressed moments in college weren’t with English majors, they were those moments in general education classes with future elementary school teachers who said things like “Ohmigod! Do we have to, like, read, all these books in one semester?!” Now that totally depresses me. I don’t want my kid in her second grade class, that’s for sure.

•Non-Impacted. I remember trying to get into some class for my minor and being waitlisted with no chance of getting in. And then it occurred to me in that same time slot was Modern Critical Theory. I ran across campus hoping not to be late. Wait a minute, I said to myself, sweat dripping off my brow, why am I running? Sure enough there were only 10 students in the class and the professor looked at me gratefully as I stumbled in late and asked if I could add it. This doesn’t happen in the major du jour departments.

•Better Parties and Drinking. Sure, there might be keggers a plenty down at the frat house with the business majors, but you just got to try a 30 year old single malt scotch that your Irish poetry and prose professor brought to class to make the class more ambient while you watch slides of his favorite pubs in Dublin. After all, you’ve just finished a slew of Yeats and Joyce. You can’t buy that sort of story.

•Coolest part-time jobs. English majors get hired to work in bars, bookstores, and record stores. We take all the cool jobs you wish you had. There’s a bookstore in San Francisco that seems to only hire college graduates and what did they major in? You guessed it—English.

•Heads up on the Surreal. Let’s face it. Life after college becomes this weird surreal madness of social networking, begging for work, allegiances that might go nowhere and the randomness of landing a job because you sat next to the right person on a plane even though you know next to nothing about the job the nice man in the suit wants to give you. Only great literature prepares you for the absurd.

And after you’ve graduated and you are looking for work and you are wondering just how those seminars on Gertrude Stein, William Faulkner and that other one on the Existential Novels from Germany and France are benefiting you think about this:

Critical Thinking in the Mad, Mad, World. My first job out of college was at a newspaper where the first thing the editor said to me was, “English major? Good! You can think!” Apparently it’s what we are known for. We’ve been writing random papers for four years comparing and contrasting things with no similarities whatsoever. We’ve given esoteric a new name. We’ve written twenty page papers on poems of ten lines. This translates straight into the real world. No task too odd or strange. We are at the desk immediately researching any wacky thing a boss can throw at us and we do it with a smile. After all, we are the kind of people who can play Scrabble for days on end without getting bored. Corporate America loves us for this. You will be hired for your ability to take weirdness and run with it. The creative mind!

•Vague Enough to Encompass Anything. The English majors I know and love from undergraduate days to graduate school to now have a diverse resume of careers: lawyers, politicians, K-12 teachers, professors , writers and editors of all genres, small business owners, web designers, bartenders, singers, waitresses, IT analysts, preschool teachers, librarians, artists, graphic designers, and seasonal forestry workers. None of them have gone into Nursing that I know of, but other than that, they’ve covered all the bases that the more popular majors insist are the only way to fly. The English major yields many more job opportunities. The average person sometimes is even a little afraid of the English major. It works to your advantage.

And so incoming freshmen, it might first appear that becoming an English major is antiquated and useless in our contemporary high tech age, but I think you’d be sorely mistaken to take this view. College should be about experiencing the world and the English major will get you there without the investment of expensive technology or books—and how else will you get to read about bestiality in early American Puritan settlements, write papers on it, and get an A?

This article is from Maggie Wells of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

School Bookstores Can't Afford Cheap Textbooks

Thursday Bram — Thu, 31 Jan 2008 19:11:43 +0000

I'm taking just one course this semester, with just one reasonably priced textbook. According to the back cover, the price was $29.95, but that isn't the price I paid. I purchased a brand new copy at Amazon.com for $19.77. I could have bought it for $15.89 but I would have lost out on free shipping.

How did the other students in my class get their copies?

One bought it for full price at the bookstore ($31.75 after sales tax). She said that she'd considered buying online but she only had one book to buy this year and had to walk by the bookstore anyhow.
One student works at the university's bookstore and gets a 20% discount. She paid $25.40.
One student works at Barnes and Noble and gets a 30% discount. Her price? $22.23

All that variety for the same 195 pages and some glue. It's pretty obvious that the school bookstore was the worst rate, too. Even if the girl who worked at Barnes & Noble didn't get a discount for working there, she could have gotten a similar discount by using coupons or by using a store membership — same goes for Borders.

But why is the university's bookstore in such a bad way?

University bookstores are almost all owned by a few big corporations these days, rather than the schools that house them. Most of my personal experience has been with eFollet and BN College Booksellers. I don't know about anyothers — if you do, please chime in — but from what I've learned in casual conversation, these booksellers simply can't afford to offer much in the way of discounts. In part, this is because of their obligations to universities: the bookstore has to stock enough books for the number of students enrolled in a given class and have to absorb the shipping costs to return the books when students buy online, through other stores or entirely avoid picking up their textbooks. They have to pay to ship back used books that are sold back (more money!) at the end of the semester and deal with various other costs. On top of all this, the companies are not non-profits — they have to make money. I'm not suggesting propping up these bookstores, though. I'm just saying that the high prices are logical. It's also logical for students to stop buying their textbooks at the stores with the highest costs.

What other textbook options are out there?

Other retailers: Barnes & Noble, Borders and independent bookstores may not stock your particular textbook, but just about every bookstore is happy to put in a special order for you. Just keep in mind that most of these stores charge the same cover price as the school bookstores, so you aren't much better off unless you have coupons or a members' discount.

Online booksellers: There are a slew of websites selling off used textbooks. Most of them are dirt cheap, too. Shipping can get a bit expensive on books, though, if you aren't careful. Buying all your books from one seller can often get you a break on shipping costs. I've run into a couple of problems with edition numbers as well — but in most classes, the edition of your book won't stop you from reading it.

Amazon: Amazon is in a class of its own when it comes to online booksellers for one — free shipping. If you have Amazon Prime, you can get free shipping on an amazing variety of Amazon purchases. I don't have an Amazon Prime account myself, but I use my boyfriend's, as does my mother and several of our other relatives.

Trade: Sophomore year of college, I traded a junior lunch for the textbook for a class I was taking the next semester and that he had taken the semester before (he still made more than he would have by selling it back to the bookstore). Facebook and college message boards have made this technique amazingly easy.

This article is from Thursday Bram of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread: