A student savings account is like a savings account made just for university or college students 📚

They exist to slightly offset the general education expenses and or tuition 💸

So, these accounts come with special benefits. 🥳

Let’s learn about 4 of them today 🧠

1️⃣ Lower minimum balances.

This means you can save smaller amounts and still reap the rewards of interest 🥳

2️⃣ Reduced or no monthly fees

That’s right! Savings accounts cost less to maintain 🤑

3️⃣ Reduced or no overdraft fees

💡Overdrafting is when you run into negative balance

Most banks punish over-drafting your account by charging you a fee, so you’re in debt + owing money 😔

Most student savings accounts, however, know that you’re young and might make more mistakes early on ❤️‍🩹

So, many of them waive overdraft fees 💸

4️⃣ Perks

Since you register with your student ID, some banks may have perk deals with your school 👀

Banks have varying restrictions, but usually, any full-time college student can open an account 👩‍🎓

Now you know about special accounts just for students 😎