Life Stages: Preparing Students for College

Your college-bound Einstein may have graduated at the top of the class, but is he or she prepared to manage money upon arrival into this next phase of life?

Successful money management will mean the difference between being able to buy books and pay bills, and even having to buddy up on a roommate's meal plan at the end of the semester.

Here a few tips to consider for College Spending 101:

1. Set up a monthly budget. Sit down with your college co-ed and develop a realistic monthly budget that you both can agree on. Build in costs for holiday travel, concert tickets or clothing. Agree upon necessities and luxuries and what is acceptable in your family.
2. Set some saving goals for recreation. If Spring Break is on the horizon, how about a plan where you agree on a percentage that the student will contribute to the trip.
3. Looking Ahead. What will financial life look like after graduation? Have your student think about what their costs will look like after they've tossed the mortar board tassel? Rent. College loans. Living expenses. It's never too early to think about the future.

We're Here to Help.
At Wachovia we know that time and money are resources most college students are short on. That’s why we developed ways to help you with both.

Free Student Checking
Free Student Checking makes banking affordable and convenient for busy students with easy account access, no minimum balance, and no monthly service fee. They can pay bills online whenever it's convenient, and use Wachovia ATMs as often as they need to with no additional charge.

Funds Running Low? We'll Let You Know.
Just sign up for our free Balance Alerts. If their account balance goes below a certain amount, we will send them an email notification. Better yet, sign up to receive daily alerts at the beginning of each business day, to help keep them on track.

ATM Convenience
Link your account with your students' Wachovia checking account through College Connection. That means your student can use their Check Card at other banks' ATMs 12 times a month without paying a Wachovia fee.

Campus Card
Simplify your life with the Wachovia Campus Card. Your students can link it to their Wachovia checking account, and use it across campus to make purchases, show identification, withdraw cash at Wachovia ATMs and more. When you use it as an ATM or debit card, purchases are automatically deducted from your checking account, and the details appear on your monthly statement. Check our list of Campus Card partners to find out if Wachovia's banking feature is available at your school.

More Than Just an ATM Card
Although uses vary from school to school, students can use the card across campus as a meal card, to purchase books and supplies, to check out books or pay for library services, check out equipment, or attend school events.

I'm Graduating This Year. Now What?
Whether your student is deciding the best way to pay off college loans, or learning how to build a strong financial future, Wachovia can help you meet the challenges of planning for life after college.