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Working Over Spring Break

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How much money should you borrow in student loans when attending college? You should only borrow what you need. Borrowing too much could put your financial future in jeopardy.

But how much do you really need?

The answer to that question depends on how you choose to spend your money. If, for example, you choose to use loan money to pay for extras like a spring break trip, is that really necessary?

So, if you're not going to use loan funds for spring break, is working instead worth it?

The specific answer depends on several circumstances, but the average savings could be in the thousands of dollars. Here's a breakdown.

Assume you make $9 an hour and work eight hours a day for six days of a nine-day break. Your earnings after taxes would be $367.

Add to that your savings for not traveling to a typical spring break destination, which could be over $1,000.

Breakdown of Potential Savings
Hourly Wage $9
Hours Worked Over Break (9 Days) 48
Net Earnings After Taxes $367
Average Flight + Hotel Cost (5-Night Stay) See source $1,481
Total (Net Earnings + Travel Savings) $1,848

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