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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?

  • Become a saver
  • Open a checking account
  • Plan in advance for college
Student Teen LifeStage



Become a Saver

Learning to save money in your teen and college years is an excellent habit that will train you to be a good money manager for the rest of your life.

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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.

UBM offers saving accounts - such as the SMART Savings and Regular Savings,  specifically designed for students' needs.  When your money is in the bank, it is harder to spend, tougher to access and earns interest.  All three add up to savings for you. Teen Student Save
When you are 18, you may open a savings account on your own, either online or at the bank.  Younger students may open savings and checking accounts with the co-signature of a parent, and you need to do this together inside the bank.  

Open 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.

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Whether you use a debit card or paper checks, your checking account can help you manage your budget,  pay bills and balance your checkbook.  With these good habits, you can start building a good credit reputation NOW. checkbook

UBM Regular Checking Account- When statements are received electronically, this account is service charge free.  There is no minimum balance required, no fee to have a debit card and no per item charges.   learn more...

UBM Debit Card - click locate a no fee ATM near you.

Order Checks Online Directly with Harland - design and/or reorder your UBM checks.

Bank Online with NetBanc and/or MobileBanc- check out our easy way to bank from your computer or smart phone.  
When you are 18, you may open a checking 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.

Plan in Advance for College

It’s never too early to start saving for college.

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The costs of a college education go up every year.  To prepare yourself for the costs you can expect as you enter college here are some recent statistics:

According to the College Board, the average 2010-2011 tuition increase for private colleges was 4.3% and 6.1% for public universities and colleges.  The projected 4-year tuition and fees for private colleges is $109,172 and $30,420 for public universities (based on in-state resident).  These totals are shocking, but with time and a plan, can be manageable.


College Costs

Click on our Calculators link at the top of this website and visit our Savings Calculators - College Savings Plan tool to see how your current plan stacks up or to start saving for college.

  • Savings Plans - UBM 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:

    Coverdell Educations Savings Account  –  Allowing tax-free withdrawals for qualified educational expenses, this account allows up to $2,000 in deposits per year per child.   More information...

    US Government EE and I Savings Bonds  –  EE Bonds are reliable, low-risk government-backed savings products that you can use toward financing education and other special events. These are available at our branch locations.

SMART Savings Accounts- available to children up to the age of 18, this account pays an attractive rate of return while encouraging students to refrain from making withdrawals.  Learn more about SMART accounts...  

  • 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.

For help determining the best practices and products for sound and productive money management during your particular lifestage, please contact us at 800-421-2588 or