Paying for College

Student Money Management

If managing finances gives your student anxiety, they’re not alone: The National Student Financial Wellness Study found that 7 out of 10 college students feel stressed about money management. UNL offers several resources to help them manage this transition. 

“No one comes into college already an ‘adulting’ expert, and that’s okay. College can be the time your student learns to correctly manage their money. Your student has a lot of financial responsibility now, so they shouldn’t hesitate to reach out get help when they need it!”
Alec R. | Omaha, Nebraska

What: Union Bank & Trust is UNL’s exclusive on-campus bank. They offer many services for organizing and managing finances, such as the MyStyle free checking account and debit card services.

Where: The campus branch location is on the north side of the first floor in the Nebraska Union on City Campus. There are 10 ATMs on City and East campuses.

How to: Visit the UBT website to find out more information and open an account.

What: Financial Well-being Ambassadors program within Big Red Resilience and Well-Being. Financial Well-being Ambassadors are trained to support students and provide a friendly connection to talk about finances.

Where: Room 127 of the University Health Center

How to: Your student can visit the Student Money Management website for free online resources like CashCourse, or schedule a session with a Financial Well-being Ambassador.

How much: Free!

One of the best ways your student can prepare for managing their money in college is to identify "needs" from "wants."

Does my student have to open an account with UBT?

No, your student is not required to open an account with UBT. We do recommend it, though, as many students find this to be a useful way to manage their money and avoid ATM fees, particularly for out-of-state students or students whose local bank does not have a branch on campus or in Lincoln. UBT has a main branch on City Campus and ATMs on East Campus.

Is my student eligible for any student discounts?

Yes! Many restaurants, stores, and movie theaters in Lincoln offer discounts for students who show their student ID (NCard).

What are some money management "mistakes" my student should avoid?

According to our orientation leaders, some of the most common spending traps for college students include:

Eating out frequently (particularly if they are already paying for a meal plan)
Frequent purchases at on-campus vendors such as Starbucks and Dunkin' Donuts
Not keeping track of how much they are spending each week/each month (simple fix: use a tracking app like Mint)
Impulse buys on non-essential clothes and other items