Money Management

Employment

On Campus

About 2,300 students are employed on campus each year, and nearly every department hires student employees. About 65 percent of the student employees work within the departments indicated below; they are probably the best places to start your search for campus employment. The remaining 35 percent are spread throughout approximately fifty other departments.

Other Campus Employment Options

Check with your academic department and professors (office clerical assistants, laboratory assistants, graders, computer lab consultants). Also, the learning centers on campus may have student employment opportunities.

College Work-Study Program

The College Work-Study Program is coordinated through the Financial Aid Office. Work-study awards are based on financial need and awarded as part of your financial assistance. Participants must be US citizens or permanent residents. Awards are made for an average of eight to ten hours per week for fourteen weeks each semester. To be eligible, applicants must file a Free Application for Federal Student Aid (FAFSA). These forms are available from the Financial Aid Office, located on the first floor of the Administration Building. Electronic forms can be filed on the Web at www.fafsa.ed.gov.

University Career Center

Job postings for positions on and off campus are on this website: www.career.mtu.edu.

Off-Campus Employment

To find jobs off campus, check the classified ads in the local newspaper or contact businesses directly. You may also register at the Michigan Works Service Center (482-6916, 902 Razorback Drive, Houghton) (www.michworks.org).

Managing your money

There comes a time in everyone's life when their piggy bank no longer meets their financial needs. That time has probably arrived for you. A number of banks and credit unions in the surrounding area would be happy to help you manage your money. In addition, you can use your Tech Express ID card as an on-campus-only debit card.

Tech Express-Express Cash

Using your ID card, you and your parents can add value to be used only at on-campus merchants. The Campus Bookstore, University Images, MUB Food Mall, Campus Cafe, Aftermath Cafe, Tech Adventures Rental Center, Ice Arena Concessions, Mont Ripley Ski Hill, and all campus ticket offices accept Express Cash as payment. You can view your balance and transactions and also report your card lost or stolen online at www.techexpress.mtu.edu.

While Express Cash can't be used off campus, you (and your parents) always know it's being used for your needs on campus. It's fast, convenient, and a lot safer than carrying cash. Additionally, you can have any positive balance from your Michigan Tech Student account placed on your Express Cash so you can have quicker access to your refunds. See the Tech Express Service Center for more information and proper forms.

Choosing a Bank

Feel free to shop around. In addition to a convenient location, you'll probably want to compare hours of operation, ATM locations, types of services, interest, and fees.

What You'll Need

Most banks require some sort of official picture ID, usually a driver's license or passport, to open an account. If you are a minor, they may ask for a parent's or guardian's telephone number and address. For security purposes, banks will often ask you your mother's maiden name and/or your birthplace.

Checking vs. Savings Accounts

Checking accounts have the big advantage of liquidity-if a vendor is willing to accept your check, you can spend the money in a checking account anytime, anywhere. However, it's essential that you keep track of the checks you write and your deposits so you know how much money you have.

Some people get into trouble with their checking accounts by writing checks for money that isn't there-the banks then return the check to the person or business who deposited it. Banks will charge you a substantial penalty for a returned check, commonly known as a bounced check. Bounced checks can give you a bad credit rating, affecting your ability to borrow money or get a credit card. In the worst-case scenario, you can be charged with a felony for writing bad checks. However, your bank will advise you on managing a checking account, and if you follow these instructions, you can have convenient, trouble-free checking.

You never have to worry about bounced checks with savings accounts, and you can earn interest on the balance (unlike most checking accounts). Savings accounts are particularly useful if you won't be using your money right away. But if you expect to be making frequent withdrawals, they may not be convenient. If you plan to open a savings account, ask about minimum balances, interest rates, and the number of free monthly transactions.