Student: Teen & College Age

Learn to manage money and prepare for the cost of higher education

You may still rely on financial help from your parents or other family members, but it’s not too early to start cultivating sound money-management habits. Many financially sound adults accomplished their goals through careful financial planning that began when they were students.

How can you start on the path to sound money management?

1. Become a “Star Saver”

Learning to save money in your teens and college years is an excellent habit that will train you be a good money manager for the rest of your life. Set goals for your money and start saving NOW. If you have no immediate goals, your goal can be to have a “money cushion” for when that important need for cash occurs.

State Bank of Cross Plains offers saving accounts specifically designed for students:

Junior Savings:

For teens, saving money may not be as much fun as spending it, but putting dollars aside for their future and learning how to be smart consumers are still important things to do. Teens have access to more money than ever before thanks to allowances, gifts and, for many, income from jobs. Teens also are becoming more responsible for making decisions about everything from small, everyday purchases to saving for college or a car. That's why the latest issue of FDIC Consumer News, published by the Federal Deposit Insurance Corporation, is a special guide to help teens (and many pre-teens) learn how to make good decisions about their money, right from the start. Check out the FDIC ' s publication, entitled "For Young Adult and Teens; Quick Tips for Managing You Money by clicking here:

Peronal Savings:

The State Bank Personal Savings Account is the choice for customers looking for a low minimum 
balance account. A great place to save for a special purchase.

When you are 18, you may open a savings account on your own, either online or at the bank. Younger students may open checking accounts with the co-signature of a parent, and you need to do this together 
inside the bank.

2. Start a Checking Account

A checking account provides a means to learn how to responsibly handle cash, make smart financial decisions and keep track of your spending records. Whether you use a debit card or paper checks, your checking account can help you manage your budget, including paying your bills on time and balancing your checkbook. With these good habits, you can start building a good credit reputation NOW.

Economy Checking

A State Bank Economy Checking Account is the right choice for easy, inexpensive checking.

  • No minimum balance
  • No per check charge
  • TeleBank 24
  • eBank! online banking
  • Bill Pay
  • eStatements available
  • CheckCard Plus debit card with ATM access
  • Optional Personal Reserve Account (PRA)* and/or Savings Overdraft Protection
  • Open your account online
3. Plan in Advance for College
It’s never too early for pre-college students and their families to identify and earmark the financial resources they have available to fund a college education—whether from savings, loans, grants, scholarships or work income. Here are some sources to help you and your parents plan how you will finance a higher education:
  • College Savings Plans - State Bank of Cross Plains offers several options to help you fund the cost of a higher education. It’s OK to start small, but start now with a college savings plan that both you and your parents can contribute to.
  • Student Loans – State Bank of Cross Plains offers student loans for both students and parents to cover the cost of undergraduate and graduate school education. These loans have the advantages of a lower interest rate and can be repaid over a longer time period than standard consumer loans.
  • iHelp Student Loan – Are you heading off to college? The State Bank of Cross Plains has the financial tools you need to help with your future education such as student loans, free checking, free online banking, free bill pay and more. The State Bank of Cross Plains participates in the iHELP® Education Loan Program, which is designed to meet the higher education financing needs of students and their families.  The program provides private student loans designed to supplement, but not replace, scholarships, grants and other financial aid including Federal Student loans currently offered on college campuses. Click here for more information.
  • Federal Financial Aid for Higher Education (FAFSA) – All college applicants and their parents or guardians should become familiar with the most recent FAFSA guidelines and deadlines which can be found at Applications for federal student aid may also be available from your high school counselors, public library, or college financial aid office.



  • Set a savings goal and keep track of your progress.
  • If you have a job, don’t spend everything you make.
  • Record ALL your transactions daily for your checking and savings accounts, whether they are made with debit or credit cards or paper checks and deposit slips.
  • Know your account details such as overdraft charges, interest rates, withdrawal restrictions, minimum balances, etc.

For help determining the best accounts and products for sound and productive money management during your Student Lifestage, please contact us at 855-CLOSE2U (855-256-7328)  or email us.