I am currently attending college. I am working internships while not in school and making good money compared to a typical minimum wage job while at college. I am going for my bachelor's in electrical engineering.
I will make enough to pay for the next semester so I do not have to take out a loan for that.
What is the best way to go about getting the most out of the money I am making?
I have a savings account and checking account though JP Morgan Chase. However, the savings account has an interest of 0.05 %. I know some about the stock market and some about other financial options but I don't know what's best.
I have considered opening an online savings account because they tend to have higher interests and I have considered going into the stock market but I don't know how well I would do.
I have also considered moving my checking account to my schools federal credit union because I think they would offer more benefits to students and I could possibly get a loan from them with less interest (maybe) as opposed to going with Sallie Mae. I will need to take out more loans eventually because the money I am making will run out.
What things can I do and where can I put my money to make the most out of it the quickest and safest? Online banks, college owned federal credit union, stock market, or anything else?
I am just trying to pay for college and come out with a good money cushion because I am going to have loans to pay.