While it’s always great to focus solely on your studies during college, it’s not always a possibility. Higher education, while worth it, can be pricey and sometimes you need that extra cash flow! Consider getting a job in school: There are some great benefits, such as learning to manage your time and money and fleshing out your resume!

Consider first the two types of employment during your college years: on- and off-campus jobs. On-campus jobs take your class schedule into account and eliminate a commute. There’s always a variety of opportunities, from entertainment planning to aerobics instruction. I recommend looking in your department first for extra resume boosting!

Depending on where you go to school, there can be more or less opportunities with an off-campus job. If your school is in a big city, you will probably find many positions in your career path for experience in your chosen field. But it’s important to be clear about your class schedule and time restrictions.

No matter where you work, keep your education a priority and don’t try to take on too many hours. You may find yourself wanting to accommodate more than you can handle, but you can’t please everyone! “Learning and Earning: Working in College,” a 2001 study by Upromise, shows that students who work more than 20 hours a week while attending school full-time experience more stress and have a larger chance of dropping out of school. The study also finds that students who work continuously take somewhat longer to graduate than non-workers: Student workers took an average of 9.2 semesters to graduate, compared to 8.9 semesters for those who have at least one non-working semester.

If having a job causes you to retake classes, take more time to graduate, or even drop out, you may have lost money in the long run. Make sure you do the math! Be honest with your boss and, most importantly, yourself over what will enhance (not hinder) your college experience.

Whether applying to schools or starting a job search, people usually remember to present themselves professionally in person. But I cannot stress the importance of managing your online presence as well!

Social media has become a part of many of our lives, a way to stay in touch with friends, find people with similar hobbies, and hear the latest news. But it’s also become a way for schools and companies to research possible candidates. While some schools have a policy of not checking personal websites or profiles unless invited, a report by the National Association for College Admission Counseling finds that 26% of colleges are using search engines to research potential students and 21% are using social networking sites!

Have you asked yourself how your online presence would affect your application? Are your photos and comments appropriate? Or do you list your interests as “partying ‘till I pass out, all day every day?”

To make sure your account(s) are ready for their close-up, I highly recommend managing your privacy settings! When possible make your account private and restrict access to photo albums, wall posts, and pictures tagged of you. Facebook is very customizable, letting you specify what friends are allowed to view what!

Even after personalizing your security settings, I recommend erring on the side of caution. Perhaps only your best friend has access to view that scandalous picture, but if you uploaded that photo, then it exists somewhere besides your computer… who knows where it’ll turn up?

And don’t assume you’re in the clear once the application process is over! Many people have been suspended or fired due to their social media activity — everything from angry tweets about admission officers, to calling in sick while your status says you’re really at a concert, sharing company secrets, or photos of you participating in illegal activity. In fact, according to a recent study by Proofpoint, 8% of US companies have fired an employee over social media!

So use common sense in your online activities and remember that Internet does NOT equal anonymous!

Getting into graduate school can be a surprisingly difficult process. The sooner you start the better, but it’s never too late!

If you’re still in college, do what it takes to get top grades while you're there. Try to really engage with the professors in your field; let them know that you’re interested in attending grad school. It's especially helpful if there is a way you can assist them in their teaching or research — don’t be too shy to ask! Not only does this experience look fantastic on your application, but the professor would be able to give a really personal, outstanding recommendation later on. Another way to get good recommendations and real life experience is through internships: Spend your summer in that office, hospital, or law firm and you’ll be sure to have an advantage.

If you’ve already graduated, find yourself a job in an appropriate field. It looks much better to be a paralegal at a firm when you’re applying to law schools than to be an accountant — it shows a dedication to your industry and, again, provides great recommendations and invaluable real life experience!

Your next step is to read up on any tests required to apply. The most common are:

• Graduate Record Exam (GRE): The GRE is a computerized test required for admission to most graduate programs in the U.S. (except law, business, and medicine). The exam measures verbal, quantitative, and analytical writing skills. Many graduate programs base financial aid packages, including fellowships and teaching assistantships, on GRE scores. Your GRE score is valid for five years.
• Graduate Management Admissions Test (GMAT): GMAT is almost always a necessary part of a business school application. A 3½ hour computerized exam, the GMAT tests analytical writing skills, quantitative skills, and verbal skills (reading comprehension, sentence correction, and critical reasoning) through 78 multiple-choice questions and two analytical essays. Your GMAT score is valid for five years.
• Law School Admissions Test (LSAT): The LSAT is a 3½ hour paper-and-pencil test required for admission to most U.S. law schools. Made up of roughly 125 multiple-choice questions plus a writing sample, the test is designed to measure the critical reading, data management, and analytical thinking skills that are deemed necessary for success in the first year of law school. Of all admissions tests, the LSAT carries the most weight in the admissions decision-making process and can account for up to 50% of a candidate's application at the most competitive schools. Your LSAT score is valid for five years.
• Medical College Admissions Test (MCAT): The MCAT is a computer-based multiple choice examination used by medical school admissions officials. The MCAT tests problem-solving skills, critical thinking abilities, and writing skills, as well as knowledge of basic science concepts. The test consists of 3 hours and 20 minutes of multiple-choice testing, plus one hour devoted to a writing sample. In most cases, MCAT scores are valid for three years. However, this time frame varies from school to school.

I would pick up a study guide or two to make sure you’re sufficiently prepared for whatever exam you need to take. If you are overwhelmed and don’t know where to begin, there are also prep classes that can really help you stay organized and focused while you study.

Select multiple schools to apply to — many people recommend six. Check out the latest rankings by U.S. News, but keep in mind other factors that are important to you: size, location, cost, etc. You can estimate tuition costs with the Sallie Mae Education Investment Planner to get a good idea of what your entire graduate education may cost you.

Keep in mind that the admissions process for graduate schools is not the same for undergraduate colleges and universities; grades, test scores, and letters of recommendation are only the tip of the iceberg! In college, decisions are made by the admissions department; for grad school, the professors in the department make the decisions. This makes the process more personal. I recommend visiting schools you’d like to attend and meeting with the professors. It’s important to leave an impression — and show enthusiasm for and knowledge of your field.

Finally, don’t be afraid to submit your articles and research to publications in the hope they'll get published. Research and writing is what the majority of grad schools are about — if you are published, it speaks volumes about your work!

Do you have any tips or ideas? Maybe a study guide that really helped you out? Leave them in the comments.

Mistake #1: Not realizing that you’ll have a life-long “report card” called a credit report. You know the drill: Your performance in school is evaluated and graded. No secret there.

But did you know that throughout your adult life you’ll be graded in another area altogether, one that has nothing to do with exams, term papers, and homework assignments? It has to do with how well you manage money or, more specifically, how well you manage money that you borrow. Three major credit reporting agencies compile data on you and maintain it in a credit report. And you get evaluated. Just like in school. 

Your Money Management “Grade”
Your money management grade is called a credit score. It’s often referred to as a FICO^® score (since many credit bureaus calculate scores using the software developed by Fair Isaac and Company), although each of the credit bureaus has its own name for it. The scale ranges from 300 to 850, and the higher your score…the better.

Mistake #2: Being clueless about why a good credit score matters…and the ways you can earn “top marks.” Good grades in school can open doors (like to the college of your choice). A good credit score opens up possibilities, too.

• A really bad score can keep you from getting the loan you want. You’ll probably need to borrow money for a car or, eventually, a home. You’ll need an acceptable score for that to happen.
• If your score is mediocre (so-so, like a “C”), you’ll probably be able to borrow money but will have to pay more in interest. That’s because you’re more of a “risk” (meaning you might not pay them back!), so lenders will charge you more to make up for it.
• And finally, just like poor grades can keep you from getting into your first-choice college, a poor credit score can hurt your chances of landing a job or even getting an apartment. Because, yes, employers and landlords can (and often do) check your credit score.

Mistake #3: Not understanding the difference between what you NEED and what you WANT. It’s never too early to learn to first buy the things you need and then, and only then (and only if can you afford it), you buy the things you’d love to have. 

Becoming aware.
Before you’re able to change any bad habits, you have to be aware of them. As you fill in your budget info, ask yourself whether the item was something you really needed (e.g., lunch at the cafeteria) or wanted (a new digital camera). A pattern should emerge, and you’ll see how much money you spend on “optional” items. If you have the money to afford them, fine. If not, you’ve got to make smart choices: Needs first. Then wants. Do that, and you’ll be ahead of some 40-year-olds we know…and well on the way to solid financial footing!

Mistake #4: Not knowing how much money you have to spend…or how you spend it. It sounds simple enough, doesn’t it? Don’t spend more than you can afford, and you won’t run into money problems. End of story. But it’s often easier said than done. That’s why, especially during your college years when your income will be modest, you need to develop…and stick with…a budget. 

Budget: It’s not a dirty word.
Think of your budget as a personal spending plan. It’s simply a way for you to understand where your money goes and to make sure you don’t absent-mindedly buy things you don’t really need. That way, you will have the money for a concert or club or a restaurant. It’s all in the planning.

When it's time to pay for school, there is a simple way to cut through all the financial information. It's as easy as "get the cheapest money first." And that's as easy as Sallie Mae's 1-2-3 approach to paying for college.^SM

1. Get the free money first. Scholarships and grants are funds that don't have to be paid back. Ask around, visit Sallie Mae's free scholarship search, and get all the "free money" you can.
2. Apply for federal student loans. Step two is federal student loans. They generally have below-market interest rates and more flexible repayment options. Even if you think you are not eligible for federal student loans, you can't be sure until you try. Submit the FAFSA and start the process.
3. Fill any gap with private loans. After you've exhausted free and federal money, private student loans can make up the difference. There are a variety of private student loans, each with its own requirements and features.