1. Missing out on scholarships and Financial Aid
You might be surprised at the amount of people who don’t take full advantage of financial aid to pay for college. Plenty of people miss paying for college simply because they didn’t fill out FAFSA in time.
Or they just didn’t put in the time to research all the scholarships available. Be sure to talk to the LSU Office of   Enrollment Management about available scholarships.
Also ask around other places like professional organizations, local organizations and special interest groups for scholarships that may be offered.
Remember, the deadline for the 2015-16 FAFSA is June 30th.
2. Credit Card Debt
Let’s face it: Most college students are financially illiterate. I know it, you know it and the credit card companies definitely know it.
Before the Credit CARD Act of 2009 was passed, credit card companies were extremely aggressive in their tactics to get college student to get a credit card. They knew the allure of being able to buy something without having money would be too much for most college students.
I’m not against you getting a credit card. In fact, using a credit card properly is a great way to start building your credit. But if you can’t afford to pay the bill at the end of the month, don’t buy stuff you don’t need.
3. Not making a budget
Does a college student who doesn’t have a mortgage and two kids really need to make a budget?
The answer is yes. Everyone, no matter their financial situation, should make a monthly budget.
Creating a budget is the easiest way to get control over your spending. Making a good budget will let you know when and how much money you can spend on the weekends, while enabling you to afford that summer road trip or books for next semester.
Making a budget will also help form good spending habits.
If you have no idea how to make a budget, go to the Student Financial Management Center in the Union and it will help you make one for free. 
4. Buying a car to celebrate graduation
You probably know at least one person who plans to buy a new car once they graduate. If you do, it’s your duty as a friend to stop them from doing this.
Besides buying a house, a car can be the most money you will spend on one purchase in your life. It’s a terrible idea to spend this money after graduating, especially if you don’t have a job yet. Having an extra $10,000 for any unexpected expenses is a much more efficient way to use your money while you transition into this new life stage as a working adult.
Of course, you may need a car after graduation to move to another state for your job. If you need to buy a car then it’s OK; if you just want to buy a new car wait a year or two after you have a steady job.
5. Misusing financial aid money
Believe it or not, people use financial aid and student loans on things besides school.
I’ve heard stories of people who use student loans to pay for their bar tabs, buy video games instead of books and pay for a spring break trip. There are even people who take their student loan and invest it in the stock market to try and make some quick cash. I don’t think I’ve ever heard of anyone who made money doing this.
The problem with this is that student loans are expensive. They are expensive because you are expected to pay them back with the job you get from the education you receive with that loan.
When you take student loan money and use it to buy food or drinks, you are basically taking out a loan to buy a beer. If I offered to buy you a beer, but then you have to pay me interest for the next 10 years, you wouldn’t do it. So don’t do use student loans this way.
6. Not picking the right college
Many students aspire to go to a big-name college like Harvard. However, big names aren’t cheap. College students will take out possibly $100,000 in student loans to go to a more prestigious school. 
While the name of the college may be impressive, the education received is most likely the same education you can get at a cheaper school. Luckily for us, LSU is on several lists as a school with one of the best values in America. 
However, if you are going to graduate school, think about how the name of the school might not be as important as how much it will                           cost you.
7. Giving into peer pressure
I hate having to give this piece of advice. It makes me feel like a D.A.R.E. counselor or a middle school principal. Nevertheless, it’s important financial advice.
Going out to Tigerland every weekend can be pretty expensive. So can eating out, vacations and going on road trips with friends.
I know the feeling of not wanting to be left out and miss all of the fun, but its OK (and cheaper) to say no to your friends.
If you don’t have the money, say no. It will make life easier in the end.
Jay is a 20-year-old finance junior from St. Simons Island, Georgia. You can reach him on Twitter @hjcranford.