DePaul University

Are You Maximizing Your Money?

Have you created a financial plan laying out how you will pay for your college years?

Yes, I have planned out how much money I will pay and how much I will borrow.

I know my plan for the next year but not for the remainder

No, I haven't planned in advance how I will finance my college years
Do you take the maximum number of college credits allowable in DePaul's tuition package?

Always, I try to get the most out my tuition dollars

Most quarters I maximize my credit hours but sometimes I end up taking less hours

No I always end up taking one less class than I could take
Do you regularly search for grants & scholarships to pay for college?

I begin searching early every year to find grants & scholarships

Occasionally I look for free money but not as often as I should

I don't look for free money
Have you set up a budget to manage your money for each quarter?

I have a monthly budget to help my money last

I have a monthly budget but I don't always adhere to it

I don't have a budget
Have you researched the starting salaries for your career preferences and do you know how much debt you can afford to incur in college based on these salaries?

I have researched starting salaries and calculated how much I could afford to pay based on the take-home pay for these positions

I know the starting salaries but I haven't calculated what I really could afford to pay

I don't know starting salaries for my major
Do you utilize student discounts to save money?

Definitely, I try to take advantage of all the discounts we receive

I use the discounts occasionally

I don't know what discounts we get
Do you purchase used books whenever possible?

Whenever a used book is available I purchase it

Sometimes I buy used books but I don't always take advantage of this savings strategy

I only buy new books
Would you work during school to cover some expenses?

If I can make money to keep from taking extra loans or using credit I would definitely do it

It depends on whether I feel like working that quarter

No, I prefer to take out loans or use credit to cover my expenses
Do you use the CTA U-Pass to save on transportation costs?

Yes, I use the pass for school and on the weekends

I use the pass for classes but I end up frequently paying for taxis or gas for other activities

I rarely use my U-Pass, I prefer to drive or use taxis
Do you fill out your FAFSA by the priority deadline every year?

Yes, I know I am eligible for the most money if I make the deadline

I know the deadline but I have missed it before

I don’t know the priority deadline for the FAFSA

20 - 15 You are doing a good job of maximizing your money. These habits will help you minimize debt and get the best bang for your buck. Review any questions you answered B or C to and make necessary changes to further improve your situation. Review the Manage College Expenses section for suggestions.

14 - 7 You are practicing some habits that help you maximize your money. However there are still some areas you could stand to improve. Attend the Get The Most Out Of Your Money workshop and/or read the Manage College Expenses section for additional suggestions.

6 - 0 You are not maximizing your money as a college student. Attend the Get The Most Out Of Your Money workshop to learn new ways to improve your situation. Or set up an appointment with a Financial Fitness advisor to get individualized attention on how to manage as a college student.