Students face multiple challenges while pursuing higher education. Every student has to learn to manage their schedule and juggle course demands. In addition, those that have moved away from home may be dealing with paying bills for the first time in their lives and find themselves struggling to create a budget and manage their money.
Many students struggle to afford college, and those who lack funds are more likely to drop out. Fortunately, there are resources students can use to help them manage their finances. There are also other programs for students that can help them get the education they need to pursue their careers without breaking the bank. Let’s look at some perks for students that help them improve their financial situation and focus on their studies.
Students benefit from credit cards offering rewards.
Many credit card companies charge annual fees to cover some of their business expenses. Annual fees may also mitigate the risks of a client defaulting on payments. Some banks offer fee-based cards to people with low credit scores or who don’t have a credit history. A fee-based card is a great option for college students who don’t have an established credit score. Establishing a credit history can help students when they’re trying to rent an apartment or purchase essentials they need for college, such as a vehicle.
Fortunately, college students can opt to use a financial institution that recognizes students’ financial struggles and offers some economic benefits to college students. With a Tangerine student credit card, students can get a credit card with no annual fees, helping them reduce their expenses. The student credit card also offers two percent cash back on several types of transactions. Credit card holders can opt to apply their cashback funds to their credit card statement, reducing the amount of money they owe, or they can transfer their rewards into a savings account. The student credit card also offers another perk because all purchases receive purchase protection. This means that if the item is stolen or damaged, credit card holders can use their purchase protection to replace the item. Consumers using their credit cards will enjoy an extended warranty on all things they buy.
Students can defer their expenses.
Information technology is an enticing career field because IT experts are in high demand. The U.S. Bureau of Labor Statistics (BLS) reports that jobs for information security analysts will grow by 33 percent between 2020 to 2030, which is more than four times the average job growth rate for all occupations. Data breaches cost companies millions in lost revenue or ransom fees. Employing white hat hackers and skilled cyber security professionals is one way to protect businesses and prevent thieves from stealing proprietary data or consumer information.
The high demand for cyber security experts may entice students to Google “cyber security classes near me” to find a program that will equip them with the skills needed to enter this field. NexGenT offers a cyber security program with no upfront costs, enabling students to start their studies and acquire the necessary credentials to pursue an information security analyst career without paying tens of thousands in upfront tuition costs. Students can choose between in-person or online studies, which means students who have a job or family can customize their schedules. Students can pursue full-time or part-time studies.
NexGenT uses an income share agreement (ISA) to cover costs. This means students don’t pay upfront, but they pay a portion of their income after graduation. For example, graduates who already have a job paying more than $40,000 U.S. per year or get a job in their field with a minimum salary of $40,000 U.S. pay 10 percent of their income for four years to cover the cost of tuition.
Students often struggle to cover living expenses and the cost of their education, but some resources can help students improve their financial situation. Credit cards that offer cashback and don’t charge annual fees make it easier for students to build their credit scores. Entering an ISA agreement enables students to get their education and pay for their tuition later.