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Everything You Wanted To Know About School Finances, But Were Afraid To Ask

August 2, 2017 If you’re a student or a parent, the beginning of the school year, especially a college career, can be intimidating, though it doesn’t have to be. By studying up on financial planning before the first day of school, you can be ready to tackle whatever college – and life – may throw at you. Before Classes Start Start the school year off right by having a firm grasp on your finances. You’ll want to have a checking account, so you can cover everything from school supplies to ramen noodles to collegiate gear. Open a  account and enjoy perks like unlimited non-Summit ATM withdrawals, so you can get cash anywhere on campus – even if campus is a state or two away. If money starts to feel tight, you can also consider applying for a student loan. With Summit, you can get even get student loans help cover the cost of textbooks or living expenses without incurring significant debt. During School So, once school starts, how do you balance homework, friends and finances? The secret is budgeting. Start practicing healthy money habits now with Summit’s . Track your income and expenses to determine a manageable budget for your lifestyle. It’s easy to blow through your spending money if you aren’t paying close attention, but if you stick to a consistent budget, you can enjoy your college experience worry-free. You may even have enough leftover cash to start saving for the future (ahem, student loan payments – we’re looking at you!). Any savings contribution, even small, can help in the long run when it comes time to repay your student loan or make a major purchase, like buying a car to get to that fancy new post-college job.  After Graduation The end of your academic career can bring a whirlwind of emotions, but anxiety about repaying student loan debt shouldn’t be one of them. Consider choosing smaller payments or interest-only payments for a while to accommodate a tighter post-grad budget. You also have the option to consolidate multiple loans into one payment or refinance your loan from another lender. All of these approaches could help you stay on top of your debt. We’ll also help you, so you can focus your attention on what’s most important: owning it in your new job. It is always hard to say goodbye to pools and hello to pencils, but with financial planning and these tools from Summit, owning the school year can be easier. Now, let’s make this the best semester yet. Ready, set … go. You might also be interested in Financial success isn’t how much money you have — it’s feeling good about what you’re doing with the money you have. An easier, more affordable way to buy, build or refinance a home A house is one of the biggest purchases you’ll probably ever make. Which means you really (really!) want to be sure you’re getting the home loan that’s right for you, and that just might be a 15/15 Adjustable-Rate Mortgage (ARM)! But first, let’s look at some helpful background, starting with the two main categories of mortgages – fixed-rate and adjustable-rate. Home equity loan or line of credit (HELOC) — which one’s right for you? Thinking about making some home improvements this fall — or planning ahead so you’re first in line with your contractors next spring? Then you’re probably on the lookout for affordable financing. One option that could be a good fit: tapping into the equity of your home. Navigating finances after college is hard, but you can take it one lesson at a time. Get tips for managing money and paying off student debt after graduation. Navigating finances after college is hard, but you can take it one lesson at a time. Get tips for managing money and paying off student debt after graduation. Sometimes having a little extra cash is the only thing between you and your dreams. Check out these financial tips to be smart about borrowing money and avoid common mistakes. Buying your first home can be intimidating, so we asked real people to share their new homeowner tips. Find out their strategies to ace the homebuying process. Buying a car is a big purchase, but if you play your cards right, you can get a good deal. Learn how to save money at every step of the car buying process. Yes, it’s possible to create the home of your dreams, and it may be easier than you think with a home equity loan. But how does it work? Get up to speed with these tips from our very own Kim Sponem. Buying a car is a big deal — hey, those things are expensive! And even if picking out a vehicle is one of your most favorite things ever, it can still be a bit stressful to navigate researching and buying a car. Summit’s got three tips to help make the process as fast and easy as possible. 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