Attending college can cost a great amount of money – from thousands of dollars to hundreds of thousands after a few years. Most students have to take federal and private loans in order to pay for college. Without a doubt, every student has to cut back on their typical lifestyle in one way or another. This can include spending less time out to do classwork or spending less money on luxuries. At times, it may seem that college students suffer through years of stress and thousands of dollars spent for only a piece of paper. Of course, that degree is worth more than any other piece of paper out there. However, there is a little bit of relief for those outstanding students that earn good grades – college rewards programs. There are plenty of them out there and they come in all different forms.
The MTVu Visa Credit Card offers college students up to 2000 “ThankYou Points” per semester for maintaining a high enough GPA. These points can be used for various rewards offered through the program, which include the typical array of items offered by credit card rewards programs. There are a few other credit cards like this one that offer bonuses for obtaining good grades in college.
Although a student won’t earn any money with car insurance, they can save a little extra each month by receiving good grades. Most auto insurance providers will take a percentage off of a student’s insurance rate for maintaining a GPA over 3.5. Obviously, the reduction in rate varies from company to company and not all insurance companies offer this incentive for having good grades.
Upromise doesn’t offer college students anything for good grades, but it does offer college students money for simply being a college student. By linking various banking, credit, and store cards, a person will receive a certain amount of cash into their account with each purchase they make using those cards. On top of that, the cards of other individuals like family and friends can be linked to the student’s Upromise account too. This service allows students to earn a good amount of extra money for college by simply spending money on rent, food, books, and more. The money can be earned for purchasing almost anything and it can be used for anything once its earned.
Another reward for college students that isn’t necessarily based on good grades is loan rebates. For student loans, both private and non-private, many lenders will offer students either a graduation interest rebate or a reduction in the interest rate through on-time payments. This can save students a few hundred dollars off the cost of their student loans, which gives them extra cash for being a good student by graduating and being financially responsible.
There are plenty of programs available for college students that will reward them for either good grades or simply for being a college student. Over time, students can earn cash, other rewards, or having rates reduced on their insurance or student loans. All of these rewards and programs can be very useful for a college student that is strapped for cash and time. Hard working students have the most programs available compared to students who achieve less in school, so it’s a great idea for college students to work hard during their college years for the most rewards.