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Financial Aid: 9 Essential Tips for College Students

A person is filling out a form on a wooden table using a black pen.

by CampusESP | Estimated reading time: 2 minutes

College is an exciting and transformative experience, but it can also feel overwhelming, especially for students navigating a changing environment, increased responsibilities, and academic challenges. From managing finances to mastering time management skills, having access to the right information can make a significant difference.

Understanding financial aid options, creating a realistic budget, staying organized, and developing good study habits are just a few of the important steps students should take to achieve success on campus. Whether your student is living in a dorm, commuting, or attending college online, these essential tips will help them feel more confident and prepared in their college journey.

Here are nine crucial steps that every college student should follow to ensure a successful and fulfilling college experience:

  1. Confirm that the school has their financial aid ready.
  2. Learn to build a budget and manage money.
  3. Know how to save money when possible.
  4. Explore available campus food resources.
  5. Craft a strong resume and start networking.
  6. Find a part-time job.
  7. Keep safe on campus.
  8. Start developing time management skills.
  9. Get ready to fill out the Free Application for Federal Student Aid (FAFSA) form.

Help your student prepare by sharing these planning tips before the school year starts.

Read More About Preparing for College.

Unsure what an SAI is?

What is an SAI and what does it mean?

The Student Aid Index (SAI) is a number ranging from -1500 to 999999 that helps schools determine how much financial support a student may need. For example, a lower SAI means a student has higher financial need and a higher likelihood of qualifying for need-based aid like a Pell Grant.

Remember: SAI is not a dollar amount or an aid offer.

SAI is calculated using the information provided on FAFSA® form, such as the total financial resources and annual living expenses of the student, their parents, or spouse.

Share these steps with your student to help them find their SAI:

  1. Log in to StudentAid.gov.
  2. Select the processed FAFSA submission.
  3. Select "View FAFSA Submission Summary."
  4. Select the "Eligibility Overview" tab.

For more information on the SAI formula and how aid offers are determined, check out The Student Aid Index Explained infographic.

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