Living in a residence hall or apartment can make it hard to decorate. There’s minimal space, and you probably bought everything from Target — which makes it easy to coordinate colors but difficult to create a space that doesn’t look like “dorm central” threw up all over it.
Here are some of the best and worst design choices we make in college. If you find yourself guilty of some of these, it’s OK. We all make mistakes sometimes.
First, we have maybe the worst offender of all: navy blue sheets. Navy blue sheets aren’t so bad on their own, but it’s really the Megan Fox poster covering up the hole a gym bro punched in the wall that makes it a crime against interior design. Here’s an easy fix: Find a different color of sheets. Better yet, go ahead and buy a second set of sheets altogether. Navy blue and white stripes are a good middle ground — still simple, but just a step above.
Speaking of simple yet a step above, a nice area rug elevates your space faster than your grades dropped as a freshman. Make sure you choose the right size rug for your room so that it doesn’t disappear under the lofted bed you’ve fallen out of a few times, but also doesn’t take up the entire floor.
Next, we have two that go together like ramen and your $2 plastic bowl: LED strip lights and fake vines. If you have these, I want to quickly remind you to check your email to see if your SHEIN order has shipped yet. If not, that’s OK. It just gives you more time to film another thirst trap for your TikTok while you wait.
Chances are, if you have fake vines hanging behind your bed collecting dust and critters, you might have a tapestry on your wall as well. I’m not judging — I think tapestries make a great backdrop for reading your horoscope and going online shopping for another evil eye necklace. But here is what is written in the stars for you, Leo: It’s time for better wall art.
Not to worry. You can up your wall art game at very little cost. Start by framing the posters that are already on your wall to add a put-together touch to the room. Stock up on Command strips and make sure you secure those posters to the wall really well, unless you want to find yourself being smacked in the face by a flying picture of Harry Styles at 2 a.m.
At the end of the day, decorating your space is all about making your dorm room or apartment your home away from home. Buy what you want, hang what you want, but whatever you do, remember to sweep your floors every once in a while.
Whether you attend a public or private college—in your home state or another—costs are higher than they’ve ever been. In fact, college tuition costs have nearly tripled over the last 40 years, according to Bankrate.
“The cost of college has gotten completely out of control,” agrees Maggie Germano, a financial coach. And it’s not only tuition. “The cost of room and board, books, and other necessary expenses have been going up, too. This can end up putting students and graduates in lots of debt that may make it difficult for them to get ahead in life.”
That’s why earning money as a student in college can be so beneficial to your financial health, both for today and tomorrow. Not only is the money helpful, but it also gives you a chance to build a budget and manage your own finances—critical skills for being financially secure throughout life.
So, how to make money as a college student? The reality is that it can be difficult for students to earn money while keeping up with their studies. But by taking advantage of scholarship opportunities and choosing part-time jobs for students that fit with their schedule, undergrads can enter the next stage of life with a more stable fiscal foundation.
How can students help pay for college?
It’s never too early to begin planning for the cost of college. Even if your parents started a 529 college savings plan for you when you were young, you can look for additional opportunities to lighten the financial load.
The two most common ways to do that, Germano says, are scholarships and financial aid.
Scholarships and grants
“Students should take steps to apply for as many scholarships and grants as they can even before the start of their senior year of high school,” Germano says. “This will help lower the cost burden for them once they begin school.”
Students should speak with their high school guidance counselor to learn about available local, state, and national scholarship programs. Germano also suggests they take the initiative to research online, as new programs are constantly being created.
Financial aid and loans
Many colleges offer financial aid programs for students from lower socioeconomic backgrounds. While it’s important to speak to your university’s financial aid office directly, students should also consider filling out the FAFSA form, as many schools rely on it to assess eligibility for assistance. FAFSA stands for Free Application for Federal Student Aid, and by filling it out, students will learn which federal aid and loan programs they may qualify for.
Even with a scholarship and other types of aid, many students will still need to take out a student loan, Germano says.
Be cautious, though. “Most students take out student loans without understanding the terms or how much it will really cost over time,” she says. “Talk to your parents, guidance counselor, or other trusted adults about this process so that you’re going into it with as much understanding as possible.”
What bank accounts do students need?
Before applying for jobs, students should be sure they have a place to put their money. Germano suggests students open a checking account and a savings account so they can best manage their money in both the near and long term.
Rewards checking account
Opening a rewards checking account is a great place to start because it can provide cash-back benefits similar to credit cards—and offer the flexibility to make purchases online and with your debit card.
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Just make sure your checking account features overdraft protection in case you accidentally overdraw your account.
High-yield savings account
Many students find it difficult to keep up with their bills, let alone put money away for savings. It’s important to make an effort, however, since any money deposited in a high-yield savings account can earn compound interest, potentially leading to significant growth over time.
You can also use different high-yield savings accounts to save for multiple savings goals, such as buying a car, paying off student loans, and building an emergency fund.
How can you find the best part-time jobs for students?
If you’re wondering how to make money as a student, a smart first step is to see what part-time jobs are available. The right part-time job can provide you with a reliable income without having to sacrifice time for studying and socializing. Check out these ideas for both on-campus and off-campus part-time jobs for students:
On-campus jobs
Finding a job on campus is a convenient option for how to make money as a college student. You won’t have to worry about commuting, and the workplace is designed to accommodate your student schedule.
In addition to searching around your campus, Germano recommends finding out if you qualify for the federal work-study program at your school, based on your FAFSA application.
To get your wheels turning, Germano suggests these on-campus job ideas:
Resident assistant
Administrative assistant for a department office
Campus bookstore associate
Campus café barista
Tour guide
Tutor
IT assistant
Mail room assistant
Research assistant
Dining hall worker
Off-campus jobs
Consider applying for a job off campus. Restaurants, theaters, and stores near campus are often open to hiring students, though these jobs may not be as accommodating as those on campus.
Germano recommends asking upperclassmen what the best part-time jobs for students are. They may point you in the right direction and could even be willing to give you a referral.
You can also look into remote part-time jobs for students that you can do from your dorm room.
What is a good part-time job for students online?
If you’re wondering how to earn money online for students or how to make money from home for students, you can check job boards for part-time remote work.
Translation work, being a digital assistant, and tutoring are some potential online jobs for students to earn money.
If you speak two or more languages, then translation work could be one of the first places to turn when looking for online part-time jobs from home for students. These roles often involve translating videos, podcasts, or documents—and, if you have knowledge in the medical or legal sphere, it can be more lucrative.
Digital assistants can provide a range of services, from social media management to responding to email or scheduling appointments. These jobs may require a certain level of availability, so be certain to discuss the expectations of this job so you know if you can balance the role with your classes and social life.
If there’s one or more subjects where you really excel, online tutoring could be a good way to make extra money without leaving your dorm. It can also be rewarding to help your fellow students find success.
Can side hustles help with earning money as a student?
If you can’t consistently work at a part-time job, consider more convenient ways to make money as a student—like a side hustle.
There are plenty of side hustles to choose from, including driving for a ride-share app, house sitting, and pet sitting.
Many modern side hustles can be managed through an app, offering a lot of flexibility. It means you can adjust your work schedule based on when you’re available, for example pulling back during finals week so you have time to study. It’s how to make money as a college student without having to take on too big a commitment.
How can college students manage their time between work and school?
It’s important to make sure your money-making ventures don’t interfere with your studies.
“Some students need to work in order to live and support themselves in school, so those students will have to work as much as will support them,” Germano says. “But for those who have more flexibility, try to be realistic about how much work you can take on without sacrificing your schooling and other responsibilities.”
She recommends reducing your work hours if your grades are being negatively affected. One tip: Try designating specific blocks of time for your academic tasks. With your work and school time clearly defined, you can then enjoy any free time you have to the fullest, without stressing about how you’ll get everything done.
Germano says it’s also important to set realistic goals. If anything, plan for a little more time than you think you might actually need to write an essay or study for a test. Finishing early will be more motivating than failing to accomplish a task in time.
You can also try different time management and finance apps. There are plenty of free apps out there that can help you organize your time and money.
Get ready for a fun, financially secure college experience
While keeping your finances in line and building a strong foundation for the future is essential, you should be enjoying this time of your life.
“Many students who have to work to put themselves through school can have a difficult time balancing work and school in a healthy, sustainable way,” Germano says. Finding time for fun and relaxation is critical and should be top of mind to avoid burnout and maintain positive mental health.
With these tips, you can find the way to make money as a college student that works best for you. Once the cash starts coming in, be sure you know how to budget as a college student and how to save money as a student. Earning extra money is only one part of money management for students. You also want to know that every dollar is being spent wisely.
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Whether you’re decorating your first dorm room or giving your home a style overhaul, one of our most surprising sources for statement pieces is Urban Outfitters. From bohemian-chic rattan furniture and artful storage pieces to minimalist shelving and charming bathroom essentials, the retailer is home to some of the coolest finds for every type of interior design style.
Some of the top design trends of 2023 are also the most enduring ones. Sustainability continues to be top of mind, as natural and eco-conscious materials continue to be favored choices. We can also thank Succession for ushering in the “quiet luxury” trend, an understated high-end aesthetic spilling out of fashion wardrobes and into the rest of the home: think cozy textiles and upholstery made from plush fabrics. On the flip side, surrealist shapes and playing with scale will be on the rise as people go for Schiaparelli-esque interior style over minimalism.
Ultimately, consider designing around your own personality and lifestyle, regardless of whether or not something fits a trend. As one study recently found, homeowners are decorating their homes with “professionalization,” not “personalization,” in mind — so whether you love a lived-in look, or feel more at home in a ‘grammable hotel-like space, we suggest going with items that spark joy.
With all of that in mind, we’re sharing our favorite furniture and home decor to shop from Urban Outfitters. Whether your vibe is bohemian or modern, see 10 of our top picks for a range of styles, including some pieces on sale for up to 30 percent off.
Levi Storage Shelf
This three-tiered bamboo storage shelf brings a natural touch while giving you more shelf space.
Levi Storage Shelf
Price: $79
Buy Now
Mushroom Wall Hook
Mushroom motifs are among the nature-inspired design trends that are expected to be big in 2023 and beyond. These playful wall hooks are sure to bring the fun to your fungus decor.
Mushroom Wall Hook
Price: $18
Buy Now
Honey & Ivy Table Lamp
Urban Outfitters is also home to the UO MRKT, a curated marketplace of one-of-a-kind fashion, home and decor finds. One of our favorite lighting pieces is this one from Portland’s Honey & Ivy Studio, which features a 3D-printed shade inspired by pleated fabric.
Honey & Ivy Table Lamp
Honey & Ivy Table Lamp
Price: $49
Buy Now
Grayson Credenza (50 percent off)
On sale for 50 percent off, this sturdy oak credenza is farmhouse-meets-minimalist and features pre-cut holes for cables. We like the adjustable shelves and removable legs for customization, too.
Grayson Credenza
Grayson Credenza (reg. $999)
Price: $500
Buy Now
Westie Mirror Shelf
For when you need a handy place for your keys or a convenient beauty station before you run out of the house, this mirror shelf is perfect for holding your daily essentials.
Westie Mirror Shelf
Price: $99
Buy Now
Gillian Coffee Table
Stow away your mess in the minimalist Gillian coffee table that features two drawers for all of your books, controllers and anything else that ends up on your tabletops.
Gillian Coffee Table
Price: $329
Buy Now
Cup Noodles Bowl
A college student staple, instant noodles get their own dedicated vessel in this fun ceramic bowl that’s dishwasher- and microwave-safe. (Extra credit for upgrading your basic ramen.)
Cup Noodles Bowl
Price: $24
Buy Now
Cozy Crinkle Duvet Set
Available in twin to king sizes, this crinkled-to-perfection duvet set is ideal for refreshing your bedding ahead of fall. It’s made of soft, gauzy cotton that’s perfect for transitioning from the heat of summer to cooler autumn days.
Cozy Crinkle Duvet Set
Cozy Crinkle Duvet Set
Price: $99
Buy Now
Checkerboard Hilo Tufted Rug (30% off)
Rugs are a design hack for dorms, rentals and other home spaces where you’ve got to make do with the existing floor. Cover up stains or brighten up your room with a textured checkerboard rug like this one that comes in other sizes and colors.
Checkerboard Hilo Tufted Rug 3×5 (reg. $89)
Price: $89 $62
Buy Now
Mason Storage Cabinet
On sale for $300 off, this sleek Mason storage cabinet (also available in white, olive and natural) looks more like that designer furniture find you’ve been eyeing — but for a fraction of the price.
When someone heads off to college, they are often setting up a whole new household. They want and need items that help them get their new lifestyle up and running. If you are buying gifts for a student, you can help them achieve that by giving them items that are convenient, practical, and a little bit fun.
That’s where this list can come in handy. It identifies some of the most useful, in-demand gifts you could give a recent high-school grad or current college student. Plus there are clever ideas that may well elicit an “I love it!” from the recipient, such as a subscription to a favorite streaming service.
Read on for smart, inspiring ideas for presents for the students in your life.
Apparel and Accessory Gifts for College Students
College students need to be prepared for any situation on campus, whether that’s a winter storm, a job interview, or a trip to the school’s gym to workout. Clothing and accessories are college gifts that are likely to be appreciated. They’re practical, of course, and can help the recipient save money on clothes.
1. Backpack
A good-quality and versatile backpack is a college staple. Your college student may want a waterproof bag with plenty of compartments with room for books, a laptop, and other personal items. The backpack should also be comfortable to carry around throughout the day and durable enough to last for several semesters.
2. Messenger Bag or Tote Bag
An office-ready tote or messenger bag can be great for internships or interviews. Plus, it can be used beyond college.
3. Activewear
Whether they’re playing on a college team, a regular at the gym, or just like the style and comfort, activewear can be a useful gift for most college students. There are many different styles and brands at various price points.
4. Gym Bag
For college students who may use the school’s gym facilities or participate in a sport, a gym bag is essential. Make sure to get an appropriate size bag depending on how much they need to carry.
5. Outdoor Winter Gear
This may not be as important if they’re attending school in a warm location, but students need warm winter clothing when they’re walking back and forth between classes. Your college student may need warm winter boots for the snow, a heavy coat, thick socks, a hat, and gloves. And those can be pricey, so they make a great gift.
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6. Waterproof Gear
The last thing a college student wants is a wet bag while they’re carrying their textbooks and laptop. A waterproof backpack and an umbrella should help protect expensive gear and a raincoat and boots should keep your college student dry between classes.
7. College Hoodies/Sweatshirts
One popular gift for college students is a hoodie or sweatshirt with the school’s team logo. This can typically be found through the college’s website or they may sell them on campus as well.
This type of gear can be especially fun for students to wear when getting involved in on-campus activities and showing their school spirit.
8. Loungewear
The dorm will be home for the next couple of semesters so it’s important to be comfortable. Loungewear can be found online or in stores and come in a variety of styles and prices.
9. Professional Attire
A professional outfit is a must for the college student going on interviews or for any formal gathering. If you don’t feel comfortable picking out an office-ready outfit, there are subscription services available with styles based on the information filled out by the recipient, or a gift card to a specific store may work as well.
Another great idea for a present for a college student: a gift card to a specific store.
Recommended: What Is College Like?
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Dorm Room Gifts for College Students
There are too many dorm room college essentials to list. The little things go a long way and can help make college life more comfortable and enjoyable.
10. Bedding/Blankets
Most colleges only supply a mattress, so students must bring their own sheets, blankets, and pillows. Colleges typically have dorm beds with a twin XL mattress, but it should be confirmed with the school before buying bedding. Make sure to buy an extra set of sheets so that they always have a clean set.
11. Basic Kitchenware
Whether your college student has a dorm room kitchen or will mostly be eating in the dining hall, basic kitchenware is a necessity for a quick meal or a late-night snack. Basic kitchenware includes utensils, knives, plates and bowls, cups, and food storage containers.
12. Laundry Basket
Dorms typically don’t provide a washer and dryer in the dorm room so students will need to bring their laundry to the communal laundry room.
13. Alarm Clock
Getting up on time for classes can sometimes be a struggle so your college student may need a little help. A digital alarm clock should do the trick even for the heaviest of sleepers.
14. Bathrobe
Aside from the comfort and luxury that bathrobes may bring, they’re a necessity for college. A bathrobe will give a little bit of extra security when your college student goes to take a shower.
15. Storage
Dorm rooms are usually small, so your student will want to maximize every inch they have. There are tons of great storage solutions from under-bed bags and bins, over-the-door storage racks, and hanging strips or hooks.
16. Desk Supplies
Desk supplies are a must-have and make great gifts for college students. Consider desktop organizers, pens and pencils, a lamp, and also a comfortable desk chair.
17. Lap Desk
A lap desk can make a convenient gift for college students to make studying around campus more comfortable. They’re portable and perfect for taking notes or setting a laptop.
18. Streaming Service
It’s easy to spend a lot of money on streaming services, and college students are typically on a tight budget. Get a gift card for one or a couple of streaming services to gift your college student.
19. Personal Safe
If your student has expensive or important items, it’s important they’re kept in a safe location. A small personal safe to protect valuables can give your college student some peace of mind when living with roommates. Plus, if they work a cash job and want to save the money for tuition, they will have a safe place to stash it.
20. Games
Board games or card games are perfect for a relaxing night with roommates and friends.
Food and Drink Gifts for College Students
College cuisine doesn’t have to be instant ramen or dining hall meals. You might help your student get set up to cook meals for themselves, which can be a way to save money on food, given how pricey takeout can get. Before purchasing any kitchen appliances, contact a residential assistant to double-check if they are allowed in dorm rooms at the student’s school.
21. Insulated Water Bottle
It’s a simple gift but a leak-proof insulated water bottle will keep cold drinks cold and hot drinks hot for hours.
22. Microwave
A microwave for a college dorm needs to be compact as college students aren’t working with much space. It should be big enough to fit a full-sized plate but small enough to fit on a narrow counter.
23. Mini-Fridge
A mini-fridge is good for keeping drinks cool or storing a few snacks.
24. Electric Multi-Cooker
Multi-cookers, like the InstantPot, are simple machines but can take dorm room dishes to the next level. With a multi-cooker, college students can free up space and replace multiple kitchen appliances: rice cooker, frypan, pressure cooker, slow cooker, yogurt maker, and steamer. Worth noting again, before buying any kitchen appliances — confirm they are allowed in the dorm rooms at your student’s school.
25. Coffee Maker
It may be nice to get a coffee from the local coffee shop every morning, but the cost can add up. College students on a budget can save some cash by using a coffee maker instead.
Recommended: earn money at home (or at their dorm room), whether selling things online or perhaps tele-tutoring in a subject they love.
27. Portable Charger
A portable charger ensures your college student can study, take notes, and work on assignments without worrying about their battery dying. Portable chargers come in a variety of forms with a range of features.
28. Noise-Canceling Headphones
Dorm rooms and other areas around campus sometimes don’t make the best environment for studying. Noise-canceling headphones give your college-bound student a distraction from the surrounding noise.
29. Power Strip
You can never have too many power outlets. Your college student’s dorm room may not have enough outlets for their needs.
30. USB Flash Drive
College students may need a reliable USB flash drive to use when going to the library to work on a project, when a printer isn’t working, or when moving large files. Flash drives come in a range of storage capacities and prices.
31. Portable Bluetooth Speaker
It may not be a must-have, but a portable bluetooth speaker is a fun gift for college students. There are even waterproof models for a little extra protection.
The Takeaway
Still, stumped when it comes to finding gifts for college students? Cash or gift cards go a long way and it allows your college student to purchase exactly what they want or need. A gift card can be used for their favorite restaurant or store or some cash can go towards college books, saving for college tuition, or anything else they may need.
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SoFi members with direct deposit activity can earn 4.50% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Direct Deposit means a deposit to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Direct Deposit”) via the Automated Clearing House (“ACH”) Network during a 30-day Evaluation Period (as defined below). Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, do not constitute Direct Deposit activity. There is no minimum Direct Deposit amount required to qualify for the stated interest rate.
SoFi members with Qualifying Deposits can earn 4.50% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Qualifying Deposits means one or more deposits that, in the aggregate, are equal to or greater than $5,000 to an account holder’s SoFi Checking and Savings account (“Qualifying Deposits”) during a 30-day Evaluation Period (as defined below). Qualifying Deposits only include those deposits from the following eligible sources: (i) ACH transfers, (ii) inbound wire transfers, (iii) peer-to-peer transfers (i.e., external transfers from PayPal, Venmo, etc. and internal peer-to-peer transfers from a SoFi account belonging to another account holder), (iv) check deposits, (v) instant funding to your SoFi Bank Debit Card, (vi) push payments to your SoFi Bank Debit Card, and (vii) cash deposits. Qualifying Deposits do not include: (i) transfers between an account holder’s Checking account, Savings account, and/or Vaults; (ii) interest payments; (iii) bonuses issued by SoFi Bank or its affiliates; or (iv) credits, reversals, and refunds from SoFi Bank, N.A. (“SoFi Bank”) or from a merchant.
SoFi Bank shall, in its sole discretion, assess each account holder’s Direct Deposit activity and Qualifying Deposits throughout each 30-Day Evaluation Period to determine the applicability of rates and may request additional documentation for verification of eligibility. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Upon receiving a Direct Deposit or $5,000 in Qualifying Deposits to your account, you will begin earning 4.50% APY on savings balances (including Vaults) and 0.50% on checking balances on or before the following calendar day. You will continue to earn these APYs for (i) the remainder of the current 30-Day Evaluation Period and through the end of the subsequent 30-Day Evaluation Period and (ii) any following 30-day Evaluation Periods during which SoFi Bank determines you to have Direct Deposit activity or $5,000 in Qualifying Deposits without interruption.
SoFi Bank reserves the right to grant a grace period to account holders following a change in Direct Deposit activity or Qualifying Deposits activity before adjusting rates. If SoFi Bank grants you a grace period, the dates for such grace period will be reflected on the APY Details page of your account. If SoFi Bank determines that you did not have Direct Deposit activity or $5,000 in Qualifying Deposits during the current 30-day Evaluation Period and, if applicable, the grace period, then you will begin earning the rates earned by account holders without either Direct Deposit or Qualifying Deposits until you have Direct Deposit activity or $5,000 in Qualifying Deposits in a subsequent 30-Day Evaluation Period. For the avoidance of doubt, an account holder with both Direct Deposit activity and Qualifying Deposits will earn the rates earned by account holders with Direct Deposit.
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Join the School of Drama on Aug. 19 for the Senior Yard Sale on The Hill! The drama
class is hosting a massive yard sale filled with unique treasures, from clothing and
books to home decor and more.
All proceeds will go towards supporting the School of Drama’s upcoming Senior Showcase.
Come find fantastic deals, stock your dorm room and support this talented class!
YARD SALE FLYER
Contact:Maya Mays
August 11, 2023
SUBMIT AN ANNOUNCEMENT
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Back in my day, the early aughts, the go-to options for dorm room basics and decor were the local Bed Bath & Beyond and Ikea — if you were lucky enough to have one. These days, there’s a lot more variety, with plenty of stylish and cool dorm room items and accent pieces available online at a range of price points. It makes it much easier for people to outfit their space in a way that is aesthetically pleasing and helps them to express their own personal tastes. In recent years, Urban Outfitters is one retailer that has really stepped up their game. Their home collection contains surprisingly chic pieces that are designed for small spaces, making it a great resource for dorm rooms and beyond.
There is an emphasis on eye-catching silhouettes across the entire category, including small, everyday items like lamps and catchalls. It gives their home section an elevated feel, and might just be what you need to give your dorm room a big upgrade — even the most utilitarian objects in their lineup — like a toilet paper holder — are extra special.
Below, I’ve rounded up a few of the most sophisticated, cool and exciting dorm-appropriate items at Urban Outfitters. This list includes everything from lamps and rugs to decorative items, storage baskets and more. It’s never too early to start your back-to-school shopping, and UO’s stunning selection will make it a pleasure.
HuffPost may receive a share from purchases made via links on this page. Every item is independently selected by the HuffPost Shopping team. Prices and availability are subject to change.
Pharmacy school student loans are one way for potential pharmacists to subsidize some or all of the costs associated with attending pharmacy school.
There are several pros and cons to taking out a pharmacy school loan, from the opportunity to receive student loan forgiveness to potential fees for late payments or a drop in credit score.
Keep reading to learn how much it costs to attend pharmacy school, a few different ways to pay for it, what a pharmacy school loan covers, and the ins and outs of pharmacy school student loans.
Average Cost of Pharmacy School
The average cost of attending pharmacy school spans anywhere from $65,000 to $200,000.
It’s a wide range but, generally speaking, in-state, public schools are on the lower end of the scale, costing around $14,800 to $82,000 per year, while pharmacy programs at private institutions can run between $74,800 and $160,000.
Average Student Loan Debt Pharmacy School
The American Association of Colleges of Pharmacy (AACP)’s 2021 survey of pharmacy school graduates found that about 85% of PharmD degree holders had to borrow money to get through school.
And the average student loan debt for pharmacy graduates, according to that same report, is $173,561.
There’s good news, though: The return on investment can be promising for pharmacists, whose median pay is around $128,710 per year, according to the Bureau of Labor Statistics.
What Can You Use a Pharmacy School Student Loan on?
There are several ways a student loan can be used to cover the cost of a pharmacy school education:
Tuition
As evidenced above, tuition is one of the biggest pharmacy school expenses that can be covered by a pharmacy school student loan. Since it can cost upwards of $200,000 to complete a pharmacy program, student loans can be helpful in covering that cost.
Fees
The term “fees” can sound a little bit elusive, and you typically see it thrown alongside the word “tuition.” The fees associated with attending pharmacy college vary based on the type of program the student attends, how many credit hours the student completes, and whether or not they’re an in-state or out-of-state student. In some cases, a pharmacy school may charge “comprehensive fees” that cover tuition, fees and room and board.
Books and Supplies
Pharmacy school student loans can be used to pay for books, supplies and other education-related expenses. To acquire the funds for books and supplies, pharmacy school student loans are first applied to a student’s tuition, required fees, and room and board bills. Then, any remaining funds get refunded to the borrower, either in the form of a check or through direct deposit. From there, the money can be used to pay for books and supplies.
Recommended: How to Pay for College Textbooks
Living Costs
Room and board is another expense that can be paid for with pharmacy school loans. Students can use their borrowed funds to pay for student housing — whether that’s in a dorm room or an off-campus apartment with roommates.
Pharmacy School Student Loans: Pros & Cons
Pros of Using Pharmacy School Student Loans
Cons of Using Pharmacy School Student Loans
Help people pay for pharmacy school when they don’t otherwise have the financial resources to do so.
Can be expensive to repay.
Open up more possibilities for the type of pharmacy school a person can attend, regardless of the cost.
Can put borrowers into substantial amounts of debt.
Cover a wide range of expenses — from tuition and fees to school supplies, room and board.
Borrowers might have to forego other financial goals to pay off pharmacy school student loans.
Paying off pharmacy school student loans can help build credit.
Late payments or defaulting on a pharmacy school student loan can damage credit.
Pros of Using a Pharmacy School Student Loan
Using a pharmacy school loan comes with a few pros:
Student Loans for Pharmacy School Can Be Forgiven
In terms of pharmacists student loan forgiveness, there are several options for newly graduated pharmacists who need some help paying off their pharmacy school loans.
Typically, these forgiveness programs are available on a state or federal level.
A few different pharmacy student loan forgiveness options include:
• Public Service Loan Forgiveness (PSLF)
• HRSA’s Faculty Loan Repayment Program
• National Institutes of Health Loan Repayment Programs
• Substance Use Disorder Workforce Loan Repayment Program
• State-based student loan forgiveness programs
Salary
As mentioned above, the median pay for a pharmacist is around $128,710 per year. For a pharmacy school graduate with student loan debt, this salary range could mean the difference between paying off loans and still having money left in the budget for living expenses, an emergency fund, and other types of savings.
Credit Score
Paying off pharmacy school student loans can be one way for a borrower to boost their credit score. When building credit history, making on-time payments is a prominent factor, which can potentially have a beneficial effect on a borrower’s credit score. Although their credit score could face a minor dip right after paying off the loan, it should subsequently level out and eventually rise.
Pharmacy school student loans appear as “installment loans” on a person’s credit report, which can diversify the types of credit they manage, thus potentially improving their “credit mix.” Which could also help enhance their credit score.
Cons of Using a Pharmacy School Student Loan
Pharmacy school student loans can also come with a few cons:
Debt
Since a pharmacy school loan is an installment loan, it’s considered a form of debt. As such, potential pharmacists are signing a long-term contract to repay a lender for the money they borrow. Should they find themselves on uneven financial ground, they may end up missing a payment or defaulting on the loan altogether, which could have a damaging effect on their credit report.
Late Payment Penalties
Many pharmacy school student loan lenders dole out fees for late payments. The terms of the loan are outlined by the lender before the borrower signs the agreement, but it’s important to read the fine print because loan servicers can charge a late payment penalty of up to 6% of the missed payment amount.
Interest Rates
Student loans for graduate and doctoral degrees like pharmacy school have some of the highest interest rates of any type of student loan.
Even federally subsidized Grad PLUS Loans have a fixed interest rate of 7.05% for the 2023-2024 school year, which could cause a pharmacy school student loan balance to climb high over time.
Recommended: Grad PLUS Loans, Explained
Average Interest Rates for Pharmacy School Student Loans
Pharmacy students have a variety of student loan options available to them. This table details the interest rate on different types of federal student loans that might be used to pay for a portion of pharmacy school.
Loan Type
Interest Rate for the 2023-2024 School Year
Direct Loans for Undergraduate Students
5.50%
Direct Loans for Graduate and Professional Students
7.05%
Direct PLUS Loans for Graduate Students
8.05%
Private student loans are another option that may help pharmacy students pay for their college education. The interest rates on private student loans are determined by the lender based on factors specific to the individual borrower, such as their credit and income history.
Paying for Pharmacy School
Before looking into an undergraduate student loan option or a graduate student loan option, potential pharmacists might be able to secure other sources of funding to help them pay for pharmacy school.
Scholarships
Scholarships are funds used to pay for undergraduate or graduate school that do not need to be repaid to the provider.
They can be awarded based on many different types of criteria, from grade point average (GPA) to athletic performance to acts of service, chosen field of study, and more. Scholarships might be offered by a college or university, organization, or institution.
For potential pharmacy school students, there are several available options for scholarships through their individual states and other providers. The American Association of Colleges of Pharmacy (AACP) is a great resource for finding a pharmacy school scholarship.
Grants
Unlike scholarships or loans, grants are sources of financial aid from colleges, universities, state/federal government, and other private or nonprofit organizations that do not generally need to be repaid.
The AACP breaks down grants and awards for health profession students and government subsidized grants for pharmacy school students on their website.
Recommended: The Differences Between Grants, Scholarships, and Loans
State Pharmacy School Loans
Some potential pharmacists may be eligible to participate in a state student loan program. The cost of attending a state pharmacy school will vary depending on whether or not the student lives in the same state as the school, so researching the accredited pharmacy programs by state can help them determine how much they’ll need to borrow.
Federal Pharmacy School Loans
The U.S. Department of Education offers Direct Subsidized and Unsubsidized Loans to undergraduate and graduate pharmacy school students. The school will determine the loan type(s) and amount a pharmacy school student can receive each academic year, based on information provided by the student on the Free Application for Federal Student Aid (FAFSA®) form.
PLUS Loans are another federal pharmacy school loan option, eligible to graduate or professional students through schools that participate in the federal Direct Loan Program.
Recommended: Types of Federal Student Loans
Private Pharmacy School Loans
A private student loan is another way for students to pay for pharmacy school. When comparing private student loans vs. federal student loans, it’s important to note that because private loans are not associated with the federal government, interest rates, repayment terms. Benefits also vary depending on the lender. For these reasons, private student loans are considered an option only after all other financing sources have been exhausted.
When applying for a private pharmacy school loan, a lender will usually review the borrower’s credit score and financial history, among other factors.
Private pharmacy school student loans can help bridge the gap between other payment options like the ones listed above, and give potential pharmacists the opportunity to shop around for the option that works best for them.
Income-Driven Repayment Plans
Income-driven repayment plans in particular help borrowers qualify for lower monthly payments on their pharmacy school loans if their total debt at graduation exceeds their annual income.
Here are the four income-driven repayment plans available for federal student loans:
• Income-Based Repayment (IBR
• Pay As You Earn (PAYE)
• Revised Pay As You Earn (REPAYE)
• Income-Contingent Repayment (ICR)
The Takeaway
Nearly 85% of pharmacy school graduates have student loans, according to the AACP. Pharmacy school loans can be used to pay for tuition and fees, living expenses, and supplies like books or required lab equipment. Federal student loans can be used in combination with any scholarships and grants the student may qualify for. If you find yourself still looking for a way to pay for your pharmacy school education after exhausting scholarships, grants, and federal student loans, a private student loan option might be an option to consider.
With SoFi’s private student loans, you get a six-month grace period post-graduation before you start thinking about repayment. Interested applicants can find out their rate in just a few minutes.
Learn more about borrowing a SoFi private student loan.
FAQ
How long does it take to pay off pharmacy school loans?
Depending on the type of pharmacy school loan you take out (private vs. federal) and when the funds were distributed, it can take between five and 30 years to repay a pharmacy school student loan.
How can I pay for pharmacy school?
There are several ways to pay for pharmacy school, including federal student loans, private pharmacy school loans, scholarships, grants, and personal savings.
What is the average student loan debt for pharmacy school?
According to the American Association of Colleges of Pharmacy, the average student loan debt for pharmacy graduates is $173,561.
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Inside: Looking for the best care packages for college students? Look no further! This guide will teach you everything you need to know about choosing the right gifts and packing a care package that will make your student feel at home during their time away.
It’s that time of year again! Time to send your college student a care package. But what should you include?
We’ve got you covered with this comprehensive list of the best care packages for college students.
From food and snacks to study aids and dorm decor, we’ve got ideas for every type of student.
This year, I seem to know so many parents sending off their college students.
So whether your child is homesick or just needs a little pick-me-up, check out our list of the best care packages for college students.
What is a Care Package?
A care package is a heartfelt bundle filled with handpicked items, designed to uplift the spirits of the recipient.
A care package for a college student is a curated box filled with various items such as food, products, or novelty items, tailored to their interests, to remind them they’re loved and provide them with needed or desired items while they’re away from home.
Nonetheless, a care package can be a wonderful surprise!
What goes in a care package for a college student?
Who says that college life has to be tough?
Show your college-bound kid you’re thinking of them with an amazing care package! Here’s how:
Pamper them with toiletries like soap, body scrub, or dry shampoo. It’s practicality meeting indulgence.
Include favorite snacks like popcorn, pretzels, candies, chips, or nuts—because nothing beats study stress like mouthfuls of favorite munchies!
Throw in souvenirs from your hometown because nostalgia is a comfort blanket away from home.
Don’t forget a gift card or two. It’s the little ticket to a happy spree when the budget runs low.
And finally, a heartfelt, handwritten note to remind them they’re loved, even from miles away.
In every box, you’re not just bringing joy to your college kid, you’re sending them love and comfort!
Why Send A Care Package To A College Student?
1. A Gift of Sustenance and Comfort 2. A Way to Express Love and Support 3. A Means to Introduce New Things 4. A Way to Help College Students Cope with Stress 5. A Resource for Essential Kitchen Items 6. A Means to Stay Connected 7. A Way to Provide a Mood Booster 8. A Tool to Help College Students Transition into Life Indoors 9. A Way to Give Money 10. A Gift That Can Help College Students Get Ahead
What are some care package ideas?
Care packages are personalized boxes filled with essentials, comforting items, or little luxuries that can offer solace, promote self-care, or give a delightful surprise.
Here are some ideas to get the creative juices flowing!
Imagine delivering a box packed with their favorite homemade goodies, essential school supplies, novel books, or even a themed package for that upcoming stressful finals week or just because!
Unbox this opportunity and read on to discover unique ideas for designing amazing care packages. Excite a college student today with this heartfelt gesture!
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
What item should every care package include?
Creating a care package can be a delightful way to demonstrate your care and thoughtfulness. It combines a mixture of practical items, fun surprises, and often much-needed essentials.
What goes into each package can vary greatly, but a gift card is always a must!
Care Packages Themes for College Students
Choosing a theme for a care package can help streamline the process and reduce the stress of deciding what to include.
Themes could be traditional, humorous, or catered towards particular interests or events, such as a holiday-themed box, an orange-colored items package to signify the end of exams or a coffee-themed care package for those who love a good brew.
Regardless of the theme, here are a few items that should ideally be included in every care package:
Self-Care Items: These can include items like face masks or beauty products, scented candles, and relaxing bath products, among others. They offer the recipient the luxury of self-pampering.
Comfort Items: Usually, soft items such as socks, blankets, or even simple things like their favorite tea or coffee can provide comfort.
Snacks & Treats: These are a must-have. Include their favorite bites or homemade goods if possible.
Drinks: Depending on the recipient’s preference, you can include a variety of drinks, like coffee, tea, or hot chocolate.
Fun Things: Small games, coloring books, or novels can serve to reduce stress and provide entertainment.
Personal Care: Essential items such as toiletries or grooming products are always useful.
Cleaning Supplies: Especially for those away from home, cleaning supplies can be handy.
School Supplies or Work Essentials: Depending on the recipient’s needs, this could include notebooks, pens, sticky notes, etc.
Personal Safety Devices: Consider adding items like a mini first aid kit, a personal alarm, or a safety whistle.
Other Useful Things: Depending on the recipient’s interests, you could add items like a new book, a special photo, study aids, or sports gear.
Regardless of what you choose to include, the most important aspect of a care package is that it conveys love and care to the recipient.
Make sure you time sending your package well, and learn what time do Amazon packages arrive.
Best Care Packages for College Students
College students, often away from home for the first time, can sometimes struggle with homesickness or stress.
One of the most cherished remedies for these feelings is a thoughtful care package from home. It is an amazing way to remind them they’re loved and missed, bridging the gap between home and school.
But what really makes the best care package?
One that aligns with their interests, meets their fundamental needs and contains a surprise or two for fun.
A care package can boost their morale, make them feel less homesick, and get them through challenging times. It’s not just about what’s in the package, it’s about the thought and care that goes into it.
Here is a list to fill your care package with:
Food & Drinks:
1. Snacks: College students need fuel for their late-night study sessions. A variety of healthy snacks can give them that energy boost they need.
2. Instant coffee or tea bags: For caffeinated moments without needing to leave their dorm room.
3. Homemade Cookies or Baked Goods: Nothing says ‘care’ like homemade treats.
4. Specialty Coffees: For the coffee-lover student. Because it serves as an essential tool for late-night study sessions, helping students remain awake and energized.
5. Spirulina Powder: A superfood that’s great for a health boost.
6. Granola Bars or Oatmeal: Quick and easy to make, these are ideal for those mornings when students are running late for their classes.
7. Sugar-free chewing gum: Helps to maintain focus while studying.
8. Recipe Books: For the college student who needs help learning to cook. Even better create your own digital recipe book to pass along your family favorites!
9. Water Bottle: A reusable water bottle serves both as a health and environment-friendly gift.
10. English Breakfast Tea: This can provide a comforting, hot beverage that is easy to make in a dorm room. This electric tea kettle would be a special treat!
11. Hot Sauce: A versatile condiment like hot sauce can spice up drab, repetitive cafeteria meals.
12. Snacks & Munchies: Items like popcorn and pretzels are perfect for late-night cravings or for sharing with roommates.
13. Treats: Candies, chips, cookies, marshmallows, and nuts give students a sweet or savory option for a quick snack between classes.
14. Healthy items: Vitamins are great to keep students healthy, especially during finals when stress levels are high and sleep is compromised.
15. Fondue Set: A fun treat and a good reason to invite friends over.
Besides these food items, it would also be wonderful to include a few gift cards for local eateries or popular chains like Starbucks to give students the chance to have a meal or two outside the college cafeteria.
Self Care & Pampering:
16. Facial Masks: A fun and relaxing self-care item.
17. Natural Skin Care Products: To ensure their skin stays healthy too.
18. Cozy blanket: For those chilly nights in the dorm.
19. Candles: especially battery-powered ones, offer a relaxing ambiance without posing a potential fire hazard, making them ideal for dorms.
20. Spa Items: Think along the lines of bath bombs, Epsom salts, body lotion
21. Sheet Masks: this popular DIY spa at-home item is a must!
22. Essential Oils: These are needed as they offer a calming and uplifting aroma that can alleviate stress and contribute to an overall sense of well-being, especially in high-stress environments like colleges or workplaces.
23. Nail Care Kit: specifically items to do gel manicures at home. This is something I love to do myself!
24. Sleep Mask: To ensure a good night’s sleep.
25. Cute or neutral cozy socks: Socks provide warmth and comfort, helping individuals relax after a long day of classes or studying.
26. Shower Massager: A shower massager can provide much-needed stress relief after a day filled with classes, activities, and studying.
27. Scalp Massager: This can be an excellent tool for relaxation and stress relief, making it a perfect inclusion for a college beginning or the exam period.
28. Mini First Aid Kit: Every student should have a basic first aid kit.
To Get Moving (Health & Fitness):
29. Sports Equipment: For some physical activity.
30. Bluetooth Speaker: For listening to music or watching movies with friends.
31. Yoga Mat: It’s crucial to note that a yoga mat plays a significant role in providing comfort, reducing injury, and enhancing concentration during workouts.
32. Running Shoes: Running is one of the easiest ways to stay active. Or maybe to replace an old set of shoes.
33. Fitness resistance bands: These bands are perfect for incorporating into a student’s fitness routine, keeping them in shape even with their busy schedule.
Artsy Or Creative:
34. Coloring Book and Colored Pencils: A relaxing way to take study breaks. Or try this backward coloring book.
35. Colored Pencils: These complement the coloring books perfectly.
36. Notebooks and Stationary: Artists and writers would appreciate sets of beautiful stationery.
37. Origami Paper: tap into their creativity by providing a relaxing and enjoyable pastime that can help alleviate the stresses of academic life.
38. DIY Crafts: Handmade items for a personal touch.
39. Art Supplies: If they have an artistic side, new supplies can help fuel their creativity.
Mindfulness:
40. Stress Balls: Perfect for stressful exam periods. These are my favorite item on my desk!
41. Letters or Notes of Encouragement: Personal notes to show your love and support.
42. A Self-Care Journal: Helps to promote mindfulness and wellbeing.
43. An Inspirational Book: Can provide motivation and comfort.
44. Fidget Toy: Great for stress relief and concentration.
45. A calming lavender scented candle: This can help create a soothing environment, perfect for stress relief after a long day of lectures.
46. Zen Garden: This mini-sandbox can foster a bit of creativity and provide a mindless distraction from overwhelming studies.
47. Meditation guidebook: This can introduce a beginner to effective meditation techniques and potential benefits for mindfulness.
48. Affirmation cards: Daily positivity prompts can boost mood, and encourage a positive mindset.
49. White noise machine: This can provide calming background noise, assisting in good quality sleep and fostering mental well-being.
50. Weighted blanket: Proven to stimulate serotonin production, this blanket can increase feelings of calm and aid in better sleep.
51. Gratitude journal: This promotes the daily practice of noting down things one is grateful for, fostering a positive mindset, and reducing stress.
52. Mini Buddha Board: With this, they can paint with water and watch it slowly evaporate, reminding them of the impermanence of life’s stressors.
For School:
53. Portable Charger: No student wants to run out of battery while on the go.
54. Noise-Canceling Headphones: A fantastic tool that can help students study in peace, even in a noisy dorm.
55. iPhone/Android Charging Cord: An extra charging cord can be a lifesaver for busy students.
56. Planner: Helps students keep track of their assignments and plans. Don’t forget these planner stickers.
57. USB Flash Drive: For backing up important assignments and projects.
58. Study Supplies: Flashcards, highlighters, sticky notes, and more.
59. Stickers: These can be used to decorate their laptops, notebooks, or other personal items, adding a fun and creative element.
For Fun:
60. Birthday decorations: For a surprise birthday celebration.
61. Flying Butterflies out of the Box: This is one of my favorites! The butterflies fly out of the box when opened! Very easy to set up too.
62. Movie Night Pack: A collection of films, popcorn, and candy for a sweet night in.
63. Mini Board Games: Something fun they can do during their free time.
64. Board Game or Playing Cards: Fun games to play with friends during downtime.
65. Funny Socks: Just to put a smile on their faces.
66. “Orange you glad exams are almost over?” care package: A box full of orange-colored items will not only be visually striking but will also offer a light-hearted joke to help reduce exam stress.
To Help Their Budget:
67. Wallet or Money Clip: To keep their money and ID safe.
68. Budget Binder: make sure they are starting out right! Here are the best budget binders.
69. Laundry Detergent Pods: This easy-to-carry, mess-free laundry solution is perfect for college students.
70. Hygiene Products: Essential toiletries like toothpaste, soap, shampoo, and conditioner can save them a trip to the store.
71. Extra set of Sheets: Comes in handy during laundry day.
72. Prepaid Visa Gift Cards: These can be for anything from their favorite stores, food places or for movie tickets.
73. CASH: Check out these money gift ideas on ways to package it.
74. Money Cake with Cake: These are extremely popular with the recipient.
Maybe it is a good reminder for them to find remote jobs for college students.
Nostalgia:
75. A DIY Scrapbook: A place to store all of your pictures and mementos.
76. Stuffed Animal: For comforting cuddles on lonely nights.
77. Postcards from Home: Reminds them of their roots while away.
78. Cute photo frames: For them to display their favorite memories.
79. Personalized Keychain: To carry a piece of home with them at all times.
How to Choose the Right Care Package for a College Student
Transitioning to college life is notoriously challenging for students.
Tackling the academic load, juggling social responsibilities, and handling homesickness can be overwhelming. That’s where a thoughtful care package comes in as a ray of hope, bringing a taste of home, a load of love, and a boost of morale.
While choosing the ideal care package, consider these critical attributes:
Personalization: Pick items aligning with their tastes and interests. The more personal, the more cherished.
Versatility: Include a variety of items, from fun snacks to useful goods. Variety is the spice of life.
Affordability: There’s no need for a high budget. Thoughtfulness doesn’t need to be expensive.
Thematic elements: Consider packages focused on upcoming holidays or exam seasons for added relevance. The more timely, the more needed.
Convenience: Prioritize products that save your student time and energy. The simpler, the better.
Remember, these packages are powerful messages of love and support. Choose wisely.
When to Send Care Packages for College Students
One of the most fitting times to send a college student a care package is at the beginning of the freshman year when they are trying to adjust to their new environment.
However, these thoughtful packages can be sent at any time throughout their college journey to remind them that they are missed and cared for back home.
Fall
Thanksgiving
Christmas
Valentine’s Day
Easter
Finals
Birthday
Or any other holiday!
Especially during stressful periods, like exam season, a care package can be a well-appreciated and timely morale booster.
Tips for Sending a Care Package to a College Student
1. Consider the Student’s Needs
Do you puzzle over what to put in a care package for your college student? You’re not alone.
Many parents struggle with creating a meaningful gift that caters to their child’s actual needs.
The key is convenience and usefulness—factors often overlooked in the thrill of care package creation. Let’s transform your approach.
Tailoring your package to their needs ensures your thoughtful gift becomes a practical blessing in their hectic college life.
2. Consider the Budget
Overspending on care packages for your college student can shock your wallet. Just like trying to figure out how much to give for high school graduation.
The wrong box size could lead to needless extras and unexpectedly high shipping costs. Thankfully, you can easily drop ship the items with Amazon Prime.
Also, think about how many times per year you plan to send a care package. That way you can spread out the fun throughout the year.
This is especially true if you want to know how to pay for college without loans.
3. Email or Call the Student to Find Out What They Need
Don’t risk sending unneeded items to your college student that end up wasting space and money.
Imagine the disappointment when they open the package to find redundant or unnecessary supplies.
But there’s an easy fix! Before assembling a care package, make a quick call or send an email asking what they actually need. This simple step ensures your thoughtful gesture aligns perfectly with their requirements.
Remember, it’s about sending useful items that your student appreciates and utilizes – making your effort truly count!
FAQ
Feeling homesick is a common challenge for many college students. Their new environment can seem excitingly novel but also distressingly foreign. But you can help alleviate this uncomfortable feeling by sending thoughtful, comforting care packages.
Snacks from Home: Local snacks can evoke a sense of nostalgia, making them feel closer to home.
Personal Mementos: Tokens like pictures of family, posters of hometown landscapes, or preserved local flowers help create a familiar space in their dormitory.
Money: An unexpected cash bonus is not just practical, but also a mood booster. Who doesn’t love a surprise windfall?
Heartfelt Note/Card: A message of love and encouragement can provide emotional resiliency in distressing times.
Remember, your care packages remind them that they’re loved and thought of, even miles away.
Sending care packages to college students is a thoughtful gesture that can be done at any frequency you prefer.
For example, once a quarter might be a good rule to ensure your student receives regular reminders of your love and support.
Supplements around finals, or during difficult times, are always appreciated. Feel free to adjust the frequency based on your student’s needs and preferences.
Sending a college girl a care package is a great way to remind her of home and boost her spirits. And typically, girls want fun things specific to them.
Here are the top 5 items to include:
Hair Accessories: Such as colorful hair ties or headbands to add a fun touch to her looks.
Socks: Choose cozy and cute ones, they’ll be perfect for chilly dorm nights.
Lip Balm: This is essential for avoiding chapped lips, consider tinted options for a dual-purpose product.
Fun Study Supplies: Including unique pens or sticky notes as they can make studying a bit more entertaining.
Face Masks: They offer a chance for self-care and relaxation, especially for those stress-induced skin flare-ups.
Time to Pack Those College Care Packages!
Transitioning to college life can be both exciting and overwhelming. Often, college students find themselves daunted by academic rigors, social pressure, and the unique environment of living away from home.
But what if there was a simple way to overcome these challenges?
Enter: the care package.
With a little bit of planning, you can easily put together a care package that will make your student smile.
So what are you waiting for? Get started today!
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Is Facebook the IPO of a generation? The much-anticipated initial public offering of the world’s most popular social networking site, Facebook, took place this morning on the NASDAQ. With it, the dreams and technologies of the millenial generation have taken root as a core part not only of American society – but of its formal economy.
Already, Facebook bears the distinction of having the largest market valuation of any US company at IPO at $104.1 Bn. That’s no small feat for a company that didn’t even exist eight years ago. The offering, which was originally priced at $38 per share, has “popped” to over $42/share as of the time of writing, creating over $16 Bn in value for the company. That could grow to $18.4 Bn, making it also the largest initial share offering in US history.
But all these big numbers aside, the Facebook IPO is also the hallmark of the new economy. Facebook doesn’t make anything, and its users aren’t even buying any products or servics (with the exception of some gaming functions), but most people still believe it has great value. The power of connectedness – and the technologies that enable us to share and display information across our network – has now taken root.
That, some analysts say, explains in part the $1 Bn Facebook paid for photo-sharing startup, Instagram last month: Sure, Facebook could’ve created a competitor, but Instagram was already growing to be hugely popular – and it’s a bit harder to convince an existing social network to migrate. It also helps explain the company’s big gains in advertising revenue (and its price to earnings value). It’s the network itself, that has value. Advertisers can use it to pinpoint people based on preferences in a more targeted fashion. It’s also a place where people are more tuned in; people care more about their friends’ lives than tv, and the power of social networking holds values for individuals and companies, alike. Ever heard of the term “going viral”?
In the end, we’re all part of social networks, whether we use applications like Facebook, or not. But it took a Harvard student in his dorm room to harness that power for the market.
What’s your take? Is Facebook the IPO of a generation? Will you “like” the social network by investing in its stock?
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Finding the best renters insurance policy is what most renters want but aren’t interested in spending a lot of time weighing all the different options.
Worse, a lot of renters don’t know much about it, or think it’s important.
But if you rent the home you live in, whether it’s a house, a condo, or an apartment, renters insurance is no less important than homeowner’s insurance is to a homeowner.
Renters often assume if they experience any losses due to disasters, such as fire and theft, they’ll be covered under the landlord’s insurance. That’s almost never true!
The landlord’s property insurance will cover destruction of the building, but not the contents that are within it. And since virtually all of the contents in a rental property belong to you, the renter, you will be completely out of luck if disaster strikes.
Best Renters Insurance Companies
It would be impossible to say which company offers the lowest premiums on renters insurance. That’s because the quotes you’ll get will be different, based on your personal needs and profile, other insurance policies you might bundle with the renter’s policy, your geographic location, and the type of property you live in.
There’s a wide variation in the premiums for renters insurance between companies competing in the same market. That means it pays to shop!
And while some companies seem to provide additional coverages, it’s hard to know if what they were giving were actual extras, or if they were simply giving more detailed quotes. It’s possible that similar types of coverage are available with all five companies.
What is Renters Insurance?
Renters insurance is a specific type of coverage that insures the possessions that are stored in your rental property. Exactly which possessions are covered depends upon the type of renters insurance you have. Whether you want to protect your prized jewels, new laptop, big screen TV, or a number of other items that are near and dear to your heart, a good renters insurance policy is probably well within your reach.
Renters insurance helps you with replacing stolen or damaged property, but also with protecting yourself from liability on your property and providing you with a backup plan in the event that your home itself is damaged. Let’s take a closer look at those below.
What Renters Insurance Covers
There are three standard provisions that will be found in nearly all renter’s insurance policies:
Personal Property
Similar to a homeowners policy, renters insurance covers the contents of the home you are renting. That includes furniture, electronic equipment, clothing, appliances, and personal effects. You will typically take a policy that will cover anywhere from $10,000 to $100,000 in personal property, though it can be higher.
To determine how much personal property coverage you need, you should take an inventory of everything you have. List the inventory, and then get retail prices on the cost to replace each. It’s tedious, but that’s the only way to really know how much coverage you’ll need.
It’s usually best to take photos, particularly of high-value items. That will make it easier if you need to make a claim with the insurance company.
Personal Liability
Personal liability coverage will protect you if an accident or injury happens to someone else who’s in your home. This can be someone slipping and falling in the home, being bitten by a family pet, or other types of injuries.
It could include visitors, repair people, or even the landlord if the cause of the injuries is determined to be your fault.
Personal liability coverage will protect you and your assets from lawsuits brought against you by injured parties who are holding you responsible.
Additional living expenses
This is coverage that pays in the event you lose the use of the rental premises. For example, if the property is destroyed or damaged by a fire, the insurance policy will pay for reasonable relocation expenses, such as reimbursement for a hotel stay, meals, and other expenses related to the temporary lodging situation.
Non-standard Renters Insurance Provisions
The following may be offered as part of a standard package with some insurance companies, but are additional provisions with others.
Off-premises coverage
This is coverage for possessions beyond the rental property itself. For example, it could include possessions stored in the common area of the basement of your apartment, that are subject to either damage, destruction, or theft. It can also extend to personal items stolen from your vehicle, if those items would normally be covered under your rental policy. This might be a laptop computer, as long as it’s specifically covered under your renter’s policy.
Some renter’s insurance may also include a provision to cover lost luggage, which might be lost by an airline.
Specific coverage items
You should never assume a renters insurance policy covers every possession you own. Some have specific exclusions, and others will exclude an item if it is not specifically listed.
Common specific coverages include home computers, jewelry and furs, business personal property, and firearms. If you have these items, be sure to check to make sure they’re included in your coverage. If not, you may have to get special coverage for each category individually.
Some policies do specifically include all four of these categories. State Farm is an example (see policy quote below). But never assume they’re automatically covered in your policy.
What Renters Insurance Doesn’t Cover
In the broadest sense, renters insurance doesn’t cover any hazard that is not specifically listed in the policy.
Got that? That’s the general rule, but there are certain specifics you should be aware of.
For example, just as is the case with homeowners insurance policies, renters insurance doesn’t usually cover losses due to floods and earthquakes. Those are considered a special category of hazard, specifically requiring either flood insurance or earthquake insurance.
While a renters policy may cover damages sustained as a result of a burst water pipe, you won’t be covered if your home is destroyed as a result of a river that floods your neighborhood.
If you live in an area that’s subject to natural disasters, you should look into getting a policy specifically for that hazard.
When is Renters Insurance Needed?
When required by a landlord – Large apartment complexes typically require you have renters insurance, but so do a lot of individual landlords. It’s likely they have this requirement to protect themselves from tenants filing suits to get compensation for possessions lost due to fire or some other hazard. The requirement is written into the lease.
When you want your possessions protected – Even if your landlord doesn’t require you to have renters insurance, you should have at least a small policy to protect your possessions. Though your stuff may not seem to be worth much, it could easily cost several thousand dollars to replace it, should most or all of it be destroyed or stolen.
College students – Whether you live in a dorm or off-campus, renters insurance is worth having. You probably have at least a laptop, clothing, and some entertainment equipment that would need to be replaced upon loss. You can usually get an inexpensive rider added to your parent’s policy to cover your dorm room.
Retirees who rent – Like college students, retirees may assume that what they have isn’t of much value, particularly if much of it is more than a few years old. But once again, the cost to replace your possessions could be many thousands of dollars. Renters insurance would provide you with the cash for the replacements.
Anyone who rents their home – You might assume if your rental is short-term you don’t need renters insurance. Or, if you’re renting a house, you may assume you’re covered under your landlord’s homeowner’s policy. Both assumptions are wrong.
Renters insurance is necessary anytime you’re in a rental situation.
How Much Renters Insurance Do You Need?
As I wrote earlier, you need to do an inventory of your possessions to determine how much coverage you’ll need to replace everything you have that could be lost. You might also have to get additional coverage for gray-area possessions, like business property, computer equipment, or jewelry and furs.
Liability coverage requirements are harder to estimate. $100,000 should probably be a minimum. But you should also adjust for factors such as how frequently you have visitors or people coming and going to and from your home, as well as any maintenance considerations. For example, if you live in an area where snow and ice are common, and you’re responsible for keeping walkways and stairwells clear, you may need more coverage.
As to the additional living expense portion, try to come up with a reasonable estimate of how much it will cost to live in a hotel for maybe 30 days, while repairs are being done to your rental property. If it’s a severe situation, you might need several months. But the cost of that coverage could be high.
Replacement cost versus actual cash value
This might be the most important single factor in choosing a renters insurance policy. It will determine how much you’ll receive on a claim, so you need to know which provision your insurance company is using.
Under a replacement cost provision, the insurance company will pay a sufficient amount to replace the lost items based on retail cost.
Under actual cash value, the insurance company will reimburse you for the depreciated value of the item. Let’s say you paid $1,000 for a flatscreen TV five years ago, and it’s destroyed in a fire. The insurance company may decide the value of the TV is just $200, based on its age. That’s the amount you will be reimbursed for.
Now actual cash value policies are less expensive than replacement cost policies. But as you can imagine, they’ll also pay you a lot less if you file a claim.
Unless you’re in the habit of buying your possessions at flea markets and garage sales at deep discounts, you’ll be much better off with a replacement cost policy. It may cost more for the premium, but it will do its job better when disaster hits.
How Much Does Renters Insurance Cost?
According to the Minnesota Department of Commerce renters insurance averages between $15 and $30 per month.
How much renters insurance costs depend on the usual factors that affect all insurance policies. These can include the amount of coverage you want, the deductible you’re willing to accept, your history of claims, and even how you plan to use the property.
But where renters insurance is concerned there are more specific considerations. For example, the number and type of pets you have can be a factor. Certain breeds known to be more aggressive will result in a higher premium. So will a wood-burning fireplace. The number of occupants might also figure in. Presumably, the higher the number, the more likely a claim will be paid out.
A higher premium might also be charged if you’re running a business out of the residence. In fact, certain types of businesses might require you get a commercial policy, rather than a standard rental policy.
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One of the biggest single factors is property location.
Urban locations typically cost more than rural ones, due to the closer proximity of buildings and the likelihood of fire. If the property is located in a high-crime area, it can also increase the premium. So can a location in an area that’s more prone to natural disasters, such as tornadoes and hurricanes.
The type of construction of the building is also important. For example, a building made of brick, rather than wood, would have a lower premium. The age of the building might also be a factor, since newer buildings generally have better fire protection features, like smoke alarms and sprinkler systems.
Here’s a table put out by the Insurance Information Institute that shows the average cost of both homeowner’s and renter’s insurance from 2006 to 2015. Notice how inexpensive renters insurance is compared with homeowners? It is a common misconception that insurance is too expensive for renters.
In fact, it is affordable and well worth the cost for the peace of mind and protection you receive. In 2019 and beyond, you can expect the same kind of minimal changes and affordability to remain intact, as the table below suggests.
How to Lower the Cost of Renter’s Insurance
Whatever the situation with your renter’s insurance premium, there are ways that you can keep the cost down.
Don’t buy more coverage than you need – Take an inventory of the contents of your home, and make a reasonable estimate of the replacement value of what you have. If it’s only realistically worth $25,000, then you don’t need a $50,000 policy.
Security and protective systems – Residences that have smoke alarms, fire extinguishers, indoor sprinkler systems, deadbolt locks, and security systems will usually have lower premiums.
Bundle renters insurance with other coverages – If you have auto, life, or health insurance, consider bundling your renter’s insurance with one of these policies. It can result in small savings on the premium.
Claim-free history – Like all other types of insurance, your claim history will be a major factor in determining the premium. When it comes to renters insurance, companies normally look back at least five years. If you had no claims filed in that time, you’ll get the best premium rate.
Policy exclusions and limitations – You can specifically exclude any types of property that you don’t actually own. For example, if you don’t have much in the way of high-cost jewelry, you won’t need coverage for jewelry and furs. Also, you can save a good bit of money by increasing your deductible from $500 to $1,000, or even higher you have the liquid savings to cover the difference.
The insurance company you choose may be the single biggest factor in determining your premium. Some companies just want the business more in your particular location, and will discount premiums to get it. You’ll see how this works in the next section.
What to Watch Out for With Renters Insurance
There are a few situations that might cause your premium to be higher, or even cause the insurance company to deny your application.
High-risk renters
This could be the result of the location of the rental property or even certain risks associated with you as a tenant.
Location can be a factor if you’re living in a high crime area, or in an area that has seen an above-average number of fires and other hazards. A location may be considered high risk if it’s located too far away from fire hydrants or fire stations. Your premiums will be higher if you’re located in such a neighborhood, or you may find that an insurance company is unwilling to extend coverage at all.
You could be considered a high-risk renter if you made one or more claims against your policy within the past five years (this is a standard question on renters insurance applications, so be ready). Some insurance companies may not offer a policy at all if you have one.
Still another possibility that would make you a high-risk renter is if you run a business out of your home. While a work-from-home situation won’t usually be a problem, having the type of business where you have people coming and going from the residence could be an obstacle.
One prominent example is if you’re running a childcare business out of your home. A situation like that would probably require a business insurance policy, in addition to renters insurance.
Sub-letting the residence
This is where you are the primary tenant in the property, but you might then rent the property out to another party on a temporary basis. While renter’s policies do provide for roommates and other regular occupants, they generally frown on transient arrangements. This will pretty much preclude using a rental premise for AirBnB customers!
Dangerous or exotic pets
Since certain types of pets are statistically more likely to cause injury to people, the insurance company may either charge you a higher premium for these pets, or even refuse to issue the policy entirely.
This is a common occurrence with certain dog breeds. For example, most insurance companies will have a problem if you have a pitbull, a German Shepherd, or other dogs deemed to be aggressive.
You might also run into a problem with certain exotic pets. A good example might be an iguana or a 10-foot python. Both are considered to be potentially dangerous, and don’t fall within the definition of ordinary pets. You probably won’t be able to get a renters insurance policy at all if you have this type of pet.
Unusual possessions
The same can be true of jewelry, furs, artwork, or antiques. If you have items that have significant value, either individually or collectively, you may need a separate policy that specializes in that particular type of possession.
Never assumed that a high dollar value item is covered under your policy. Just because you have $50,000 in coverage doesn’t mean that a $10,000 diamond ring is covered!
Should You Get Renters Insurance?
Unless you’re the kind of person who travels light in life – like really light – you absolutely need renters insurance. That means anything more than the clothes on your back, and an overnight bag with toiletries. It can be furniture, computer equipment, photography equipment, family heirlooms, appliances – you name it. If it’s worth anything at all to you, to the point that you would need to replace it if were lost, then you need renters insurance. .narrow-sky-1-multi-648border:none !important;display:block !important;float:none !important;line-height:0px;margin-bottom:15px !important;margin-left:auto !important;margin-right:auto !important;margin-top:15px !important;max-width:100% !important;min-height:250px;min-width:250px;padding:0;text-align:center !important;
Never assume your personal possessions will be covered under your landlord’s homeowners insurance, or under any other policies you may have. Renters insurance is a very specific type of coverage, and there’s no substitute for having your own policy.
