I love Costco! In fact, I have highlighted before how you can use Costco to Save. Well, after a recent rip to Costco, I discovered how it is great for college students to save as well!
Costco.com
Costco.com is a great place for college students to save. They have a huge technology section that includes laptops and software, and most of their prices are cheaper than other stores, and very competitive with campus bookstores.
The great thing about Costco.com is that they never charge shipping and handling, and that every product is returnable to a store no matter if the the store carries the item or not.
Costco Services
One thing that many people see in Costco but very few use are Costco’s services. Many of these services are great for college students. Here is a quick breakdown of some great services Costco offers:
- Auto Program: If you are looking for a new or certified pre-owned car, Costco can arrange for special member pricing at local dealerships. The savings can be huge, and I have heard that car dealers will even go lower than the Costco price sometimes.
- High-Yield Savings Account: Costco has partnered with Capital One to offer members a savings rate that is about 0.25% higher than current rates for regular customers. Also, Costco members get an incentive of up to $60 if they deposit at least $50,000 in the account within 30 days.
- Online Investing: Costco has also partnered with Sharebuilder to offer members up to a $60 bonus and a 25% rebate off trades. For college students, if you sign up for an automated plan, this means your trade cost is lowered from $4 to $3. That is cheap!
- Insurance: If you live in California, you can buy supplemental insurance through Costco and it is relatively cheap. This can be especially helpful for college students who many not get coverage through their parents or university.
Other Great Things At Costco for College Students
Another great thing that Costco offers for everyone, but could be helpful to college students saving, is the Costco cash cards. These cards are essentially giftcards, and members can load them up with the amount they would like to give. The great thing about these cards is that the person using them does NOT need a membership of their own. The card counts as a membership when used. So, parents can load the card up at home, and send it to their child in college, who can use it without having their own Costco membership card.
Hope this helps you save some money on stuff you would buy anyway!
Readers, what do you love about Costco?
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This post was written by...
Robert – who has written 317 posts on The College Investor.
Robert is the founder and editor of The College Investor, a personal finance site dedicated to young adult and college student finances. You can learn more about him here and connect with him on Twitter or Facebook.
{ 9 comments… read them below or add one }
Oh man, I remember making trips to Costco back before college, but my university doesn’t have one nearby. I didn’t know they had free shipping and handling, thats awesome.
I’m also in the market for a new laptop, so this is good news. If the offer is good I won’t have to hop in the car and make the drive to a local store if I can get free shipping.
The free shipping from Costco.com makes it very competitive. Plus, if you don’t like it, you can return it!
Costco does have an awesome return policy! Just make sure you don’t overspend!
I don’t like Costco because shopping there for a family of two doesn’t make sense. But I totally agree that it can be really good for students. Still might be expensive to put down all at once about $50 for a purchase.
My wife and I love shopping there for the two of us. We just are mindful of what we buy in bulk. We never buy fresh stuff in large quantities, but paper goods totally makes sense.
I can totally see how Costco would be excellent for a college student. The gift card idea is good, especially since apparently you don’t have to be a member….didn’t realize that.
Costco isn’t for everyone, but I like it. You just might have to plan to buy something unexpected though….just make it usable and worthwhile!
Free samples of food are also good for college students. Go at peak times, with lots of displays out there, and it could equal a free meal when all done
I love the free samples! And you can’t beat the hot dog combo for $1.50!
I loved Costco and I have been a member since 1995 back when it was still Price Club in my area. The huge discounts, wholesale prices, and the rebates more than pay for the membership itself.
I remember Price Club, and then it became Price Costco for like 2 years before switching to just Costco.