<prompt> Human: Any advice for new students or recently new adults who just turned 18? Any advice for a bank account or savings and etc? New to all of this..  <response>: First and foremost, the most important thing you can do right now is understand the economics of your college education. I work with college students and Im floored every day by how little they know about what their education costs and how it is being funded.How much is your tuition? How is it calculated? flat amount per semester, per credit hour, some combination of that? Will your tuition go up each year? Is it locked in for a particular amount of time? If so, you have an incentive to finish in that timeline. How much is your room and board? if you are not living at home. How long are you required to live on campus? How do the costs of apartments compare with on campus living keeping in mind the additional costs that come with apartments. How are you paying for your education? Is the financial aid you are receiving in the form of grantsscholarships which you dont have to pay back or loans? If you have loans, are the subsidized meaning they dont accumulate interest while you are in school or unsubsidized meaning they do? What is the interest rate? What types of monthly payments should you be expecting when you graduate? What can you be doing now to keep those amounts as low as possible?If your parents are contributing to your education, where is that money coming from? Are they taking out Parent PLUS loans? Will there be an expectation in the future that you help pay back these loans? Your education is likely one of the biggest expenses you will incur in your lifetime outside of a home. Understanding the details of that is critical to a successful financial future. 