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6 Ways to Save on Dorm Room Purchases

By WTOP Staff

The big move-in date is right around the corner, and you may still have shopping to do to get that dorm room in order. The average college student will spend over $915 on apparel, dorm furniture, school supplies, electronics and other essentials this year, according to the National Retail Federation’s 2014 Back-to-College Survey of over 6,100 consumers.

If you’re determined to keep that back-to-school spending budget to a minimum, but still need to pick out some furniture and decor for the dorm, then venture beyond the back-to-school sales at your favorite big-box retailer to meet your financial goals. Whether you’re moving away from home for the first time or switching dorms this year, make sure you’re stocking up on some budget-friendly basics that will last a few semesters.

Here are six ways to save on dorm room purchases:

1. Make a master list. Don’t let retailers and advertisers influence your buying decisions when it comes to putting together that dorm room shopping list. Make a master list of must-haves and basics before you start perusing the weekly ads and checking out the inventory at your favorite stores. Add an estimated cost next to each item so you have an idea how much it will cost you to furnish that dorm — and whether you can afford it. Making a master shopping list will help you prioritize those purchases, and may even ward off a few impulse buys as you fight your way through the back-to-school shopping crowds.

2. Invest in functional pieces. Storage cubes, tote boxes and even bookcases can double as tables and work spaces with a little creative positioning. Instead of buying multiple pieces of furniture that will barely squeeze into the small dorm space, think of ways to use storage pieces as furniture. Futons, sofa beds, bookshelves, coffee tables and furniture with hidden storage can create a functional living area and save space and money. Decorating these pieces with colorful fabric or other coverings can add a pop or color to the area and mask any imperfections or unattractive surfaces.

3. Hit the garage sales. Yard sales can be a treasure trove of items fit for a college student, but you will need to do some shopping around. Set aside a few weekends to shop the garage sales, and take the time to inspect furniture and accessories to ensure they will last at least one school year. Don’t forget to put on your bargaining hat to negotiate a great deal — you’ll be surprised how many sellers are willing to haggle just to get the item off their hands.

4. Check out resale stores. Resale and used goods stores that specialize in furniture, decor and home accessories can provide a wealth of options for the budget-conscious college student. Whether you’re in the market for a new desk, office chairs, bedroom furniture or a few shelves for the dorm, plan on checking out the inventory at Goodwill, The Salvation Army, Savers and other resale stores in the neighborhood.

5. Get crafty. Whether you’re inspired by a Pinterest board or just have a knack for repurposing items, put together some decorations using basic materials and craft supplies to freshen up the dorm space. Repainting household furniture and making a few items using fabrics and other materials can help you create an attractive and unique living space. Wall hangings, table decor and even bedroom accents can be a few handmade or do-it-yourself projects to add to your to-do list this back-to- school season.

6. Don’t forget eBay and online liquidation sales. Buying slightly used or refurbished items can save you a significant amount of money on college dorm room purchases and may be a wise investment for any college student on a tight budget. Take some time to browse eBay for some of the latest deals on electronics, new or used furnishings, and decor such as rugs and wall hangings. Online liquidation sales and outlet stores can also be a good source of items such as shelving, small tables and storage items. Look for free shipping offers and last-minute deals to save even more money on those dorm room purchases.

How Much College Students Will Spend on Back-to-School Shopping
Electronics (laptops, tables, smartphones, etc.) $243.79
Clothing and Accessories $138.73
Food $103.87
Dorm Furnishings $96.70
Personal Care Items $78.08
Shoes $77.60
School Supplies $74.80
Gift Cards $55.56
College-Branded Gear $47.36
Total Average Spending: $916.48
Source: The National Retail Federation’s 2014 Back-to-College Survey

More from U.S. News

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6 Ways to Save on Dorm Room Purchases originally appeared on usnews.com

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
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