You’ve just graduated high school and are starting a new chapter in your life, but you might be a little nervous. At Peach State we have a variety of helpful tips, resources, and tools to make the transition into college life as smooth as possible.
If you don’t already have a Checking and Savings account, now is a great time to open one. Consider opening an eXtreme Checking Account1 to help you build savvy financial habits. There are NO monthly fees and NO minimum balance requirements. As a college student, having no minimum balance requirements means not needing thousands of dollars to open an account. You can use the birthday money from grandma and grandpa that you’ve stashed under your bed as your initial deposit.
Our eXtreme Checking Account also includes FREE financial education from BALANCE Financial Fitness. This is a great resource that Peach State provides to members for free and can provide you with answers to questions about budgeting, student loans and more. It will give you a better understanding of how to manage your money and the best ways to put it to good use.
When you open a Checking Account at Peach State, you’ll get a Peach State FCU C.A.R.E.S. VISA® Debit Card. The Peach State FCU C.A.R.E.S. Foundation associated with this card was established in 2021 with the goal of helping our neighbors with contributions throughout our service area. Every time you make a purchase using your C.A.R.E.S. VISA® Debit Card, Peach State donates a nickel to the C.A.R.E.S. Foundation2, which supports non-profits, school systems, and the arts in the communities that we serve. Since we started this foundation, we’ve donated over $1.5 million dollars to a large variety of community organizations. With a debit card from Peach State, you’ll be able to show you CARE with every purchase!
To learn more about our eXtreme Checking Account as well as the other types of checking accounts we offer, others, please visit www.peachstatefcu.org/Accounts/Checking.
One of the first recommendations for a soon-to-be college student is applying for Financial Aid. This process can be a little overwhelming, but it doesn’t have to be. FAFSA, or Free Application for Federal Student Aid, is the official form that students or their families use to apply for financial assistance from the federal government. The application asks general information about you and your parents, as well as tax information to calculate the amount of financial aid you would potentially receive.
Filling out the FAFSA can be a little time consuming, but preparing beforehand will help reduce the amount of time it takes to complete the form.
Here is a list of what you’ll need to fill out your form:
Applications are submitted annually through their official website, FAFSA® Application | Federal Student Aid. You’ll need to create an FSA ID and account. This is the ID you’ll use to access your financial aid information when you repay your loans. Be sure to write this ID down and keep it safe. Your parents will also need to create their own FSA ID. You should always apply for FAFSA, because any amount will help those high college costs go down! College is expensive, so why not get a little help along the way if you can?
Peach State also offers several scholarship opportunities for high school seniors and adults continuing their education. These scholarships are awarded through our C.A.R.E.S. Foundation. Peach State’s Scholarship Program typically begins in December. For additional information including applications, eligibility requirements and deadline details, visit www.peachstatefcu.org/Forms-and-Resources/Scholarships.
College is expensive and the costs aren’t always upfront and clear, but BALANCE has some tips to help you understand your options when it comes to paying for college. This article on Understanding Different Types of Student Loans explains the difference between private and federal student loans so you can make sure you’re getting the right type of loans for your specific needs.
If you’d like to explore more articles and other resources to help you prepare and plan for college, please visit https://peachstatefcu.balancepro.org/programs.
1 Young adults under the age of 18 must have a parent or guardian as a joint owner on their checking account.
2 $0.05 per transaction of Peach State Federal Credit Union’s merchant interchange income from our VISA® Debit Card program is used to benefit the communities we serve. Peach State will determine where/how funds are disbursed. This does not affect members’ accounts, nor will any member information be disclosed. You will not incur any additional fees or charges from this program. Merchant interchange income is derived from fees that a merchant pays to accept credit/debit card payments. The C.A.R.E.S. program may or may not apply to ATM transactions, certain commercial transactions, or other transactions not processed by VISA®.