With too many expenses and little or no earnings, student life can be a mess. This often causes students to apply for various loans, but lack of sufficient funds and credit report information leads many students to a bad credit start. But we are here to help students avoid excess expenses and save money on daily living. If one gets good grades, that is worth some saving incentives alone. Here are the various discounts one can take advantage of just by being a good student.
In this post:
Car Discounts For Students
There is confidence from car insurance groups in granting auto loans to students who are doing great in their college studies. Since these kinds of people are likely to have ethics in driving, it is easier to grant loans that would be paid and settled in time. Some banks even offer lower interest rates for college students so it’s worth asking your banker if your bank participates.
Car Insurance Discounts For Good Grades
There are some car insurance groups that provide as much as 40% discount to students who have good grades, even If they are less than 25 years of age.
ValuePenguin compiled a list of car insurance companies that offers Good Student Insurance Discounts. High school and college students can save an average of 20% on their car insurance premium bills just by getting good grades. Below is a list of car insurance companies that offer good student discounts. If your current car insurance company does not offer such a discount, maybe it’s time to get a quote from different car insurance carriers to see if you could be saving money.
Car Insurance Companies That Offer Good Student Discounts
- Allstate (highest good student discount percentage)
- State Farm (most affordable car insurance with student discount)
Credit Card Companies
Students are great markets for credit card companies since they use cards for their daily purchases, installment terms on gadgets or appliances, and other needs such as tuition fee payments. These kinds of businesses have already equipped themselves with countermeasures on fraud and unjust spending; therefore, students who have good grades are likely to have discipline in handling their credit scores through timely payments. There are a lot of programs in many credit card groups that focus on students who perform well in class, through good grades.
In some companies, the higher your GPA is, the more points you get for keeping up your grades at their standards. Others provide additional discounts on purchases in school supplies.
Lower Student Loan Interest Rates For Good Grades
Consequently, one of the ways the US Government has now decided to help the country is by providing graduate students with incentives to establish their lives by paying lower interest rates in student loans, when they are able to pay it in time. However, the assistance is being cut down to only a few students that would prove themselves worthy of rewards by performing great in school, manifested in their good grades.
US Bank offers incentives to students who get loans from them. The Graduation Perk and the Good Grades Perk encourage college students to finish their degrees with excellent grades. When they have excellent academic marks, averaging 3.30 and above, they are entitled to have a 1% principal reduction, while 2% will be added once they graduate, having 3% in all, when everything has been achieved and complied for.
Aside from these incentives, there are more ways where students who perform well in school are considered cool by other loaning companies.
At the end of the day, it pays for investing time and effort in your studies. When you get to excel in your course and finish it with flying colors, you are not only rewarding yourself with a better job or life in the future. More importantly, you get a step ahead because of the saving incentives that come from good grades.