The following is a guest post from Tia Peterson, a freelance writer for Overture Marketplace

My very first semester in college, the only money I had was the bit I’d earned that summer, working in the shoe department of a retail store. Somehow, I made it through. You can, too. It’s time to put your brilliant mind to work and figure out how to make your money stretch so that you can have fun, make the grades, and not break the bank.

In addition to saving money on books, or finding a way to reduce your room and board costs, there are things you can do on an on-going basis to keep more money in your pocket. Here are 5 great ways to manage your money while you’re in school.

1. Pay in Cash: While you shouldn’t hit up an ATM every Monday and drain your bank account just to carry cash for the week, you should pay for most things in cash. Have you ever noticed how much harder it is to fork over $50 in cash than it is to swipe your credit card for that same amount? That’s because cash is tangible and physical, and once it’s gone, it’s gone. We usually think twice about things we have to pay in cash for, which is good.
2. Try Getting it on the Cheap: Put your higher education to good use. Try thinking of ways you can get the same thing you’re looking for, for far less. One idea to start with: Sites like Groupon.com and LivingSocial.com are awesome for scoring food, events, and even salon services for around 50% off regular prices. Nothing is better than a two-for-one deal (except for a three-for-one deal).
3. Learn to Like Coupons: Yep, I said it. Coupons. Growing up, I wasn’t a huge fan. I’m still not. But when you’re on a budget, coupons can be your best friend. What’s even better is that these days, most establishments have online coupons – so you don’t need to tread down to the mailroom and snag something from the junk mail pile. Try visiting your local grocery store’s website and download coupons directly from them.
4. Stick Around Campus: It’s nice to get out on a Saturday night, but it can cost you, especially if you live in a busy city. Once a month, decide to stick around campus. Have a picnic date out on the lawn, or catch a show, or maybe even… study. You’ll be smarter and $50 richer, too.
5. Barter for the Goods: As a college student, you are in a great position to barter for goods around town. This is one great way to get some experience while still in school, and save money. Like blogging? Offer to blog once a week for your favorite hair dresser in exchange for a regular cut. Or, offer to set up Twitter or Facebook for your local hangout and teach them how to use it, in exchange for food and drinks on the house. Put your education to good use and think about all of the ways you could get what you need for no money at all.

Those are just 5 ways and there are so many more. As long as you remember not to take your money for granted, you will be okay. Good luck!

Tia Peterson is a freelance writer for Overture Marketplace, a private student loan website offering a free loan comparison tool, and a financial aid blog for students and parents. Feel free to send any financial aid or student loan question or comment to Overture Marketplace on Twitter @loanmarketplace.

Do you like people? Do you stay up all hours of the night? Is there a little part of you that likes to be in a position of control? Do you want a job on Campus? Do you communicate well?

If you answered yes to 3 or more of these questions, being a Resident Adviser may be just the ticket for you to help cover some of your college expenses.

The Role of a Resident Adviser

RAs have different responsibilities at different college campuses but the common expectation of someone fulfilling this role is that they serve as a role model for fellow students living in their residential communities. Yes, RAs are the enforcers of all the rules put into place by Residential Life, but more importantly, they serve as a resource for their peers and help new students acclimate to campus in a healthy fostering way.

The following represents a brief description of what one college expects of their RAs:

RAs are expected to initiate contact with students on the floor within the first two weeks of classes to begin building rapport. Names of residents should be known by the end of the second week. As the year continues, try to make it a point to see each student at least three times a week so as to learn and know more about them than their names. While contact time with residents may vary by section or floor, this is to be a guideline for use in establishing and gaining knowledge of residents, and to begin the development of community. RAs are expected to promote community within their sections by establishing guidelines, limits, and expectations for cooperative living among residents.

Depending upon which college you attend, the job duties may be different but the description above gives you an idea of what may be expected of you if you decide to become an RA.

The Benefits of Being a Resident Adviser

Colleges and Universities understand the importance of RAs on their campus, so they are usually very quick to treat them fairly when it comes to compensation and benefits.

The following highlights some of the more common benefits associated with being an RA:

• Free Room - That’s right! Just about every RA program in the nation provides a free room for their Resident Advisers. My experience is that the RA rooms tend to be the larger ones and they also get to have a room all to themselves (which is an amazing luxury all to itself in residence halls!).
• Monthly Wage - Since an RA’s schedule can vary and is depicted by unscheduled events, it is hard to put an hourly rate on their pay. So, most colleges will just give them a monthly stipend to help supplement the free room benefit.
• Bookstore Vouchers - Everybody likes free books! It is not uncommon for some colleges to provide a free bookstore voucher to RAs since this is a non-taxable way they can show appreciation.
• Priority Registration - RAs have successfully lobbied  for this benefit on a number of campuses. Basically, since they are dedicating all their non-academic time to their position, they get benefit of having first pick of their favorite courses.
• Free Meal Plans - I don’t see this as often but some schools will provide this incentive for returning upper-class RAs. This benefit usually helps to offset the fact that they will be spending another year in the residence halls even though they qualify to move off campus.

The Downside of Being a Resident Adviser

I wish I could say that being a Resident Adviser is the easiest job on campus and that you will never be confronted with “issues”.  The truth of the matter is that RA positions definitely come with their fair share of challenges and I personally think they could be one of the toughest work study jobs on campus.

The following are examples of why some people just don’t like being an RA:

• No Time For Yourself - If you are in your room or wandering around your floor, you are approachable as an RA since technically you are always “on duty”.
• Late Hour Commotion - Not so surprising, most events that require an RA to get involved usually happen in the middle of the night.
• Can’t We All Just Get Along? - Unfortunately, living in close quarters with a group of diverse people can sometimes bring out the worst of the worst when it comes to how students treat each other. Depending on the floor you are assigned to, solving roommate issues may become a full time job.
• Who is Your Sounding Board? - Students always turns to the RA for a compassionate ear but who is the RA’s sounding board? If you become an RA make sure you quickly identify someone that you can bounce “issues” off of, whether it be a fellow RA, someone from Residential Life, or good old mom and dad.
• Rules Are For Everyone - You have to enforce the rules for everyone… including your friends. There is no way around it. That is just how it has to be if you are going to survive as an effective RA.

In Summary

RAs are the champions on campuses across the nation. They are the unsung heroes that sometimes get overlooked or under appreciated. However, if you are looking for a great way to reduce the amount of money you have to spend on your college education and you want to have an awesome resume builder experience, you should definitely consider becoming an RA. It may make you tough as nails but that may benefit you in your future career more than you know!

In my college days, I frequented a couple campus parties every now and again. Surprisingly, many of these parties were actually a way for entrepreneurial college kids to make some extra cash.  What they would do is buy a couple kegs of beer, roll out the good stuff first (Budweiser, Bud Light, Michelob,etc…) and then when that keg was empty they would switch it out for the cheap stuff (Milwaukee’s Best, Natural Light, or Busch). The money making aspect came into play because they would sell specialized cups for $5 each and basically that cup gave you free access to as much beer as you could drink or until the kegs ran dry. In my experience, the cups were plentiful in supply but the beer – not so much.

Since those days, most colleges have implemented some sort of keg ban on their campuses. The purpose of this rule is not meant to squelch the entrepreneurial spirit of students. It is driven by a more practical initiative to curb binge drinking.

Why You Shouldn’t Have a Keg Party on Campus – The $86,000 Question!

Apparently, a few students from the University of Wisconsin (Madison) decided to throw a keg party last month that got a little out of hand. Travis Ludy, Mitchell Klatt, and Kevin Joseph Tracy purchased a couple kegs and invited over a 100 of their “best friends” to their apartment for a celebratory party – the Badgers football team pulled a win!

The police showed up later that evening to shut down the party but their attempts were unsuccessful because the party goers immediately locked all the doors and windows, turned the music and lights off and decided to play possum – try to be as still and quiet as possible until the police leave.  Their efforts did not work and the persistent officers finally made access into the house when one of the attendees decided to “make a break for it”.

Needless to say, the three gentlemen responsible for the party started racking up fines and citations from the city. After everything was totaled, they had over 130 citations and the fines were $86,000 (or $28,666 each). The charges they are subject to facing include providing alcohol to minors, encouraging underage drinking and dispensing beer without a license

“Depending on circumstances such as prior records and cooperative attitudes, the city may require payment of less than half of a fine, with the proviso that the full penalty will come due if there’s any future misbehavior”, Assistant City Attorney Marci Paulsen said.

Even if the fines are reduced by half, these students are still looking at a large financial investment in their college experience. Do you think these fees would qualify to be paid out of a 529 college savings account?

Here is a video response from one of the students responsible for the out-of-control party:

Whether to have a car on campus is probably one of the greatest debates that an incoming college student can encounter. Some students don’t have to worry about making this choice because it has already been made for them… either the college doesn’t permit first year students to have a car on campus -or- mom and dad have just simply said “No.. not a good idea and that is that…” However, if you are a student that does have an option of whether to have a car on campus, let’s go ahead and look at the pros and cons as to whether you should bring the keys or leave them at home.

Reasons Why You Should Have A Car on Campus

• You will look cool to all your friends: Many of your friends may not have been able to talk mom and dad into letting them have a car on campus. Since you have a car, you have something that they don’t (see next bullet point)…
• Freedom: You can come and go as you like at anytime of day or night. No relying on public transportation or college campus transporters in your future!
• Increased popularity: Not only do you look cool (as mentioned above) but now you have a way to make more friends. You are now the cool dude (or dudette) AND you are able to take all your newly founded friends to the store, to the mall, to Chipotle, and yes maybe even to class every now and again.
• You can visit home more often: or at least that is the story you will tell mom and dad!
• You will smell better: I know… this one is a little bit of a stretch but do you know how hard it is to get your clothes clean when you have to cart them to and from the laundry mat on the bus or with your bike?

Reasons Why You Should NOT Have A Car on Campus

• The Car Payment: If you already have a car (and it is paid off) then this does not apply to you. However, if you are purchasing a car specifically for college you may want to think twice if you have to get a car loan.
• Maintenance: Whether your car is brand new or ten years old, there are things that you must do on a regular basis to keep your car properly maintained. (oil changes, tire rotations, alignments – especially if your college is in the midwest – pothole central!, brake inspections, replacement of air filters – and don’t forget the air fresheners while you are at it) All these things usually come at a price…
• Car Repair: This is different than Maintenance in the sense that this is something that needs replaced or repaired in order for your car to actually get you from point a to point b. Some good examples; transmission, engine gaskets, water pump, alternator, steering pump, etc…
• Petrol, Gas, Go Go Juice: Whatever you call it, it is the stuff that your car needs in order to be a car. Without the gas, your car is just a 1 ton paperweight.
• Auto Insurance: Since this is not an optional fee, if you have a car, you WILL need to have and pay for insurance.
• Parking Tickets & The Infamous Boot: If you don’t have a car, you don’t have to worry about paying for parking tickets, paying fines to get a boot removed, or paying for tow charges to get your car out of the impound lot. You may laugh, but based upon experience, it seems like every college student that has a car on campus pays one or more of these fees at least once during their college career.
• Walking Campus: Most residential campuses like to refer to themselves as a walking campus. This means that you can walk from one side of campus to the other and not have to pack a lunch for the journey. If you are attending a residential campus, a car may not be as important of an attribute to maintain.
• Alternate Transportation: Bicycling, walking, public transportation, etc… All of these are things that you can utilize in lieu of a car. If you have doubt, ask anyone that is from New York City. They have mastered all three.
• Pay To Park: Most schools require you to pay a fee to have access to the school parking lot each semester. In addition, it is probable that you may have to pay a fee just to register your car with the campus.

So, I guess we are back to the question at hand… Is having a car on campus a sign of your freedom or is it more of a financial drain. The financial resources that you have available probably dictate your response to that decision but at the end of the day it is more than likely the emotional factor of the decision that will win out. Regardless of which route you choose, just be sure to plan ahead and know all the ways in which your decision will impact your time on campus and your availability and access to things off campus.

If you know of anyone that is contemplating this exact same decision, please feel free to utilize the “share tab” below to pass this information onto them.

If you are a college student, work at a college, or ever stepped foot on a college campus, then you probably are very familiar with Amazon.com. Over the years it has topped the internet as a premium competitive resource to buy and sell goods. Amazon started their business as a book retailer but now you can not only buy books at rock bottom prices, you can purchase electronics, household supplies, and even groceries. It is absolutely amazing to see how the website has evolved over the years.

For those that know Amazon, you know that one of their features is a service called Amazon Prime. If you enroll in this program, you get free 2-day shipping on any product you order directly from Amazon and one-day shipping is available at only $3.99 for each item. The only downside is that an annual subscription to Amazon Prime will set you back $79. Which you would have to purchase a fair amount of items to recoup that investment.

The Good News For College Students

If you are a college student, you are currently eligible to receive the Amazon Prime service for FREE.. Yes FREE. Sign up is easy and the only qualifications are that you are currently enrolled at a college and have a valid .edu email address. That is it! So, if you are already using Amazon.com to score great deals on your textbooks or electronic gadgets to fill up your dorm room, then you had better take advantage of this free benefit and save a couple bucks on shipping while you are at it.

The Bad News For Alumni

In my research for this article, I found that a good number of college alumni are trying to enroll in this program because their college assigned them with a permanent .edu email address for life.  If your email address doesn’t reflect your graduation year (s86.johnsmith@harvard.edu) or the fact that you are indeed an alumni (johnsmith@alumni.harvard.edu) you may be able to enroll in the free offer. However, if Amazon finds out, they will more than likely cancel your membership and ban you from their website indefinitely.. just kidding…but they will probably cancel your Amazon Prime membership.

Good News For Faculty and Staff

Since you have a permanent .edu email address at your college, you are probably able to “work the system” to get a free Amazon Prime account for the coming year. Faculty are always adding to their literary collections, so I am guessing that this free benefit could be a huge savings for them.

Bad News for Colleges That Don’t Have a .edu Email Address

Over the past few years, many colleges and universities have migrated their email accounts to gmail (Google). This provides a huge cost savings for the schools and a great resource for the faculty, staff, and students. Unfortunately, depending on how this transition was performed, the .edu portion of the email addresses could be lost in the shuffle.  So… no Free Amazon Prime for you. Also, if you are attending a state college, it is very likely that your email address may not qualify as well. For example, a local community college in Ohio had their email addresses ending with “.oh.us”. If this is still the case, then those students will not be eligible for Free Amazon Prime.

At CheapScholar.org, we are always trying to help families and students find great opportunities to reduce the costs associated with going to college. If you plan on utilizing Amazon.com for any textbook purchases (or groceries, electronics, etc…) you will definitely want to take advantage of this FREE Amazon Prime offer.

If you know of anyone else that could benefit from this cost savings, please be sure to pass this information onto them using the “share tab” below.

Guest Post By David Replogle for The Real College Guide

Living on a shoestring budget? Whether your parents float you funds or you’re pulling a part-time paying gig, here’s how to stre——-tch every precious penny.

Broke — it’s a common catch in student jargon. “OMG, I broke my phone at that rager last night” or “I just broke up with my girlfriend ’cause she was cheating on me with my best bud.” But when used as an adjective, the word describes the financial status of most college kids.

Unless Dad is handing over his preferred platinum card or you strike it rich selling those musty ol’ Pokemon cards, you’ll have to get by on meager means. Here are some painless ways to get major bang for your buck … even if it’s your last buck.

Put the “Eat” in Creativity

Whether you’re craving a change from the monotonous glop of the dining hall, celebrating a friend’s birthday at a nearby bistro or taking a study break to go for a late-night munch, your wallet will take a hit. Cutting back on these extravagances means getting clever.

1. Buy in bulk When stashing snacks in your room, think long term. Talk to your roommates about pitching in for some grub, then head to the nearest warehouse retail chain to stock up on industrial-sized cheaper-in-the-long-run crates of Ramen packets and other non-perishables. Many discount clubs offer collegiate membership rates, and some give free introductory one-time shopping passes for non-members to bypass the annual fee altogether.
2. Use the student discount Grocery stores, restaurants and even places on campus usually have discounts for students. Even if you don’t see it advertised, it doesn’t hurt to ask. Have your student ID at all times. It could save 15 percent on that panini or score you a free dessert!
3. Sniff out free food Complimentary chow is almost as popular on campus as the latest gossip on CollegeACB. “Club meetings and churches are always looking to give out food to potential new members,” says Robby Panos, a University of Virginia junior. Philanthropic bashes and school-sponsored speaker events are also prime time for gratis grubs. Grab a slice of pizza and take in a lecture.
4. Have a drink on me Students pour beaucoup bucks down the drain when indulging in conveniences like Starbucks and bottled water. Invest in a coffeemaker so you can brew your own, and get yourself a travel mug. Pick up a refillable water bottle too if your college’s tap is tolerable. Bonus: It’s better for the environment.

That’s Entertainment

Life doesn’t have to be a snore just because your pockets are empty. Money buys neither happiness nor a stellar social life. You can get out and about without tossing around a ton of green.

1. Be art smart Your campus is probably rife with free productions, concerts and workshops. Problem is, nobody really hears about them … and when people do, the enthusiasm is usually lower than the grade on your last calculus test. Time to do some research (track down calendars of events), gather up your dorm mates and head to the next pay-what-you-can play or free movie screening. Even if it’s bad, you’ll get a few laughs — or at least the opportunity to heckle!
2. Speak Greek Not joining a frat or sorority will save you a lot of cash right out the gate. But what happens when you want to get into the best party of the year and don’t have the connections? Exchange names of brothers and sisters you know with friends and ask them to do the same — on most college campuses, name dropping is the ticket to free admission. Once you’re inside, you’ll get beverages … and if you’re lucky, maybe even a few phone numbers.
3. Out on the town Be in the know too when it comes to events in neighboring areas. Community organizations often host free outdoor festivals with live music. Local restaurants have early-bird specials. Theater workshops and art galleries frequently offer free or reduced admission. (Again, don’t forget to ask about student rates.) Read newspapers and pay attention to fliers. It could pay off.
4. Any singles? If you have a significant other who saps all your savings, it may be time to have a chat about cutting back on unnecessary costs or to ask your partner to pull his or her own weight. If this person is not important to you, you may even consider living the single life for now. Romantic dinners and little gifts add up. Is it worth it? Your call.

Shop Till You Plop

Enter upscale department stores and exclusive boutiques at your own risk, but you don’t have to totally give up the urge to splurge. Just tone it down a few notches.

1. Clothes the deal Punch up your wardrobe without breaking the bank: shop clearance racks. (The best ones are where an additional markdown is given to already slashed prices.) Look for one-of-a-kind finds in thrift and consignment stores. Pick up inexpensive accessories at discount stores and chain boutiques.
2. Gotta dollar? Discover the beauty of the dollar store. It’s great for party supplies, stationery, candles, soaps, toiletries and tons more. Whether you’re buying useless trinkets or practical necessities, think about it: You can walk in there with a 10-spot and leave with lots of loot. Heck, you can scrape together a dollar plus tax in pocket change and treat yourself to something.
3. Be a coupon king or queen Keep a lookout for coupons on one-day shopping events at major department stores. Also sign up for email notifications of store specials and be sure to check online for Internet coupons before making a big purchase. (Restaurants and fast food chains run a lot of coupon specials too, so keep your eyes on the prize.)
4. Beauty booty Ladies, fine department stores dole out free samples at the cosmetics counters. Want to road test a lip color or facial moisturizer or new perfume? March on over there with an air of confidence and ask the consultant to show you some options. She’ll likely give you mini-sized products to try at home.
5. What a card! If you’re a die-hard shopaholic experiencing severe withdrawal, hold off before reaching into your cash stash by keeping in mind that the holidays are right around the bend. “It might be painful to wait all semester,” says Appalachian State senior Diane Vachon, “but soon enough you’ll have a dozen gift cards with your name on them.”

Common Cents

Ask not what you can do for your school but what your school can do for you. Universities give back to their student patrons in plenty of ways, so take advantage.

1. Be book smart The library isn’t just for studying, using the Net and people-watching. It actually contains books — a revelation, I know. If you’re taking subjects like lit, history or philosophy, the library could relieve a big financial burden. Instead of turning to the expensive school bookstore (or even Amazon) for a book, do a quick search on the libe’s browser to see if it’s available. Then drop-kick the kid who’s about to check it out.
2. Get off your lazy butt If you have access to the campus gym and you’re paying for a pricey fitness membership, stop. Other free-of-charge physical activities: walking, jogging, hiking, in-line skating, riding your bike, a pickup basketball game, lifting weights in your room, dropping to the floor to do sit-ups and push-ups … shall we go on?
3. Let’s make a deal You’re a smart cookie, so figure out how to split costs with your roommate. Double up on your laundry to save quarters. Share a printer, swap playlists and take the same cab home from a party. And if you’re both heading out of town, consider carpooling. Even if you and your roomie aren’t the best of buds, a road trip is always less taxing when there’s company … and music.
4. Hop on that job “The No. 1 thing I can say is find a job on campus,” offers up Wabash College junior Mack O’Shaughnessy. “It’s the best way to get some extra cash in your pocket.” On-campus stores and restaurants are often hiring. Just don’t tell the folks: You still need someone’s sympathy, especially when it comes in the form of a crisp Benjamin.