Finally reaching the age of majority - what most refer to as becoming an adult is exciting. Nobody can tell you what to do or make decisions on your behalf. When you turn 18, you get to take charge of your life and steer your own course.
On the other hand, it seems people think you know how to manage every aspect of your life. As soon as you turn 18, you gain the wisdom of the ages, apparently by osmosis, and you're held accountable for any misstep you make. No matter whether anyone has taught you how to manage your money or, for that matter, if you even have any money to manage. Whatever happens from 18 on, it's all on you.
But that's not really fair, is it? Up till now, others have managed everything for you. Your parents handled the finances and all administrative matters; your teachers planned every step of your academic journey. Now, you have to make all these decisions on your own, with or without any guidance. To add to what support you may already have, Superprof offers these tips for uni.
Top Tips for Uni: Applying for Scholarships
Many first-year university students make the mistake of thinking that their higher learning experience will be just like going to school, just as they have their whole life. They soon learn that the reality of university is vastly different. They may not have classes every day, and certainly not for the better part of the day. Above all, they learn that everything costs money.
Where should that money come from? Forward-thinking students might have worked part-time while still in high school; others may count on an allowance from their parents. Still others may benefit from their universities' work-study programs, an initiative that puts qualifying students to work on campus. But every student can benefit from their institution's scholarship program.
The rule for scholarships is "Apply for everything, you never know what you'll get". Some scholarships are reserved for certain student populations like international students or Torres Strait Islanders. Besides any such earmarked funds, scholarship applications are available to everyone.
Scholarships are awarded based on either need or merit. Students who need financial support for learning should apply for every needs-based scholarship they qualify for. Conversely, even if a student is not necessarily in dire straits, they may apply for merit-based scholarships provided they meet the criteria. For every scholarship application, students must prove that they qualify for the award.
Applying for scholarships sits near the top of the advice list for freshmen. Students should start applying for scholarships as soon as they've been accepted at university. Beware that you'll need lots of documentation like your parents' financial information and your high school records. So it's best to begin applying before you leave home.
How to Save Money as a Student
The trope of the "starving student" has solidified into popular culture so much that it has its own Urban Dictionary entry. This description paints these students as frivolously spending their money on alcohol, drugs, and entertainment, a notion that has even inspired a series of memes circulating online. However, it's important to understand that this is just a stereotype, not the real reason behind students' financial struggles.
To be fair, some students go all out to explore the boundaries of their newfound freedom, much to their financial detriment. But many students 'starve' because they were never taught how to manage money. At 18 years old, they're too inexperienced in life to know that money doesn't automatically replenish itself. Some might never had to worry about money before, let alone manage any finances.
Of all the advice graduate students might pass on to incoming freshmen, setting up a budget and sticking to it tops the list. Student surveys and more formal studies repeatedly show that students wished they had been taught financial literacy before they were expected to make financial decisions. That is a serious lag in both formal and informal education but you don't have to fall victim to it, too.
Budgeting is the best way to enjoy student life and still make sure you have enough money for food and other essentials. You should outline your university budget while you're still in high school. Consider everything you'll have to pay for, tuition, books and supplies, accommodations and food. Next, list everything else you might have to pay for, clothing, outings, haircuts and hygiene necessities.
Now that you know roughly how much money you'll have going out every month, balance that amount against everything you expect to have coming in. Once you're on campus, during your first semester, don't forget to adjust your projected numbers to what they actually are. In fact, you should revise your budget at least every year, if not every semester. Of course, you need to know how to budget so you can meet your financial goals.
Finding an Internship in Australia
Among the pro tips for uni, you'll also find internships. They're a way you could earn a little money while gaining real-world working experience. Universities across Australia make such opportunities available to even their first-year students. If you were iffy about your chosen major, going on an internship may help you decide if that degree plan is right for you.
Here again, we come to the strange idea that, as a student approaches adulthood, they should know what they want to do for the rest of their life. To be sure, some students do know but many are encouraged to pursue a field of study. Family pressure or a mate who doesn't want the good times to end may talk you into studying a subject you have little interest in. But there's no shame in picking a major and changing your mind once you learn more about it.
That's what internships are for. Paid or unpaid, you get to experience what it's like, working in that field. Should you find yourself more interested as your internship progresses, you can begin to build your professional network. At the very least, you'll meet people outside of your range of experience that you could learn from. In all cases, interning will help you develop skills you'll need throughout your working life.
Even before you step foot on campus, you should check out your university's internship program. You may be delighted to find that you could intern abroad or in another Australian city; you don't have to stay local. If the thought of interning appeals to you, begin making serious inquiries as soon as you get settled in. Internship programs vary from one university to the next so be sure to see what your institution has to offer.
Tips for Uni: Should You Consider University Exchange Programs?
An internship can help put you on the professional path you want to follow but going on exchange will broaden your worldview. Spending a semester learning at another university lets you see how you fare away from everything familiar while still providing the relative security of being a student. You may go on exchange within Australia or experience life and learning abroad.
Practically every Australian university has partnered with a sister facility. These programs may be subject-specific, perhaps limited to biology or engineering students. Or they may be open to all students. Usually, an exchange lasts for six months but it's not uncommon for students on exchange to stay away for a whole year.
You don't have to worry about losing a year of study or your place at university; your time spent in exchange counts towards your degree. You don't need to worry about paying tuition at your exchange university, either. You'll continue to pay your usual tuition - but you will have to pay for supplies and possibly books. Don't worry too much about money, though, because your scholarships will transfer with you.
If you intend to go on exchange at some point during your university studies, you should start budgeting for it as soon as possible. You'll want to have enough money to afford everything you need as well as explore your destination. If you're going on exchange in a country whose native language isn't English, you might want to pay for language lessons. And you'll need to buy your plane tickets; exchange programs don't usually cover travel expenses.
All of that aside, if all the student chat boards and even Reddit are to be believed, going on exchange is not to be missed. It's not just that you'll be far away from everything and everyone you know, it's that you're doing it (mostly) all on your own. You get to experience another place, different people and a new culture, unfiltered and apart from bias.
Returning exchange students aver that their time spent as an exchange student was the best education university could give them. If they were compiling this list of top tips for uni, they would likely place going on exchange at the very top. Superprof places money matters in first place tops our list but going on exchange comes right after that.
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