Simple ways to make extra money fast as a college student

Gas prices over the summer caused an increase in travel costs (U.S. News)

Angel Rojas

Many college students know the struggle of being broke. With limited experience and a busy schedule, it’s not easy to make decent money.  Making extra money does not have to be so difficult, and if done right, can make a significant return. These methods are quick, simple and need little to no money upfront.

Be a part of a clinical trial

Clinical trials are not as scary as you might think. The risks involved with a clinical trial do exist, but several teams of experts review the risks before to ensure patient safety. If any possible complication occurs a team of highly qualified professionals is moments away. 

The Kansas City metro area has two locations to do clinical trials that offer $275 a night or more. During your stay, you will perform a series of basic medical procedures mostly consisting of blood draws and collecting vital signs. When you are not doing procedures, you are free to do anything you want. You get three meals a day plus a late-night snack, free Wi-Fi, plenty of people to talk to and a variety of games to play. 

With virtual classes, you can do a trial with almost no impact on your education, making it a great opportunity for busy students. The average clinical trial pays between two and five thousand dollars and lasts about two weeks.

Donate plasma

Save lives and your bank account by donating plasma. New-time donors can make as much as $700 in their first month. With just 8 donations required for the bonus, this translates to about $87 per hour. Each donation takes roughly an hour, making it both time and cost-efficient. 

During the appointment, you can take that time to read or work on homework. As long as you keep one arm steady you can do anything you want. Donating plasma also gives you the opportunity to help those in need. Plasma helps treat a variety of diseases and is in extra high demand due to COVID-19. 

Invest your money wisely

The easiest way to make money with little effort is to take advantage of interest rates. Instead of keeping your money in a traditional bank account, consider moving it online. 

Online banks offer interest rates that are up to 12 times higher than the national average (0.60% against 0.05%, respectively). With this significantly higher interest rate, you can simply put your money away and watch it grow. 

For people willing to take larger risks, they can invest in either stocks or cryptocurrency. The stock market poses a potential risk to lose money, but overall stocks grow an average of 10% per year. If you do your research and/or are lucky, you can make significant gains. 

Cryptocurrency is also a growing commodity that expects to grow significantly in the near future. Bitcoin has grown over 480% in the past year alone and expects to double in value before the end of the year.

Sign-up and referral incentives

Signing up for new apps or services can potentially help you make a lot of money. On top of that, you can make money by getting your friends to sign up as well. By sharing the wealth, you can help secure more money by simply sharing a link. 

For example, some credit cards offer a sign-up bonus that can be worth as much as $1700. These same cards often offer as much as $100 for every person you successfully refer. Apps like Robinhood will give you a free stock valued up to $222.50 for simply signing up and linking your bank account. Robinhood will also give you free stocks for everyone who does the same using a link you send, up to $500 per year. 

Neither you nor your referrals need to spend a dime to reap the rewards. Look into some of the apps and services you already use and see if there is a way to exploit your popularity.

Become a freelancer 

Do you have a gift or talent you are particularly good at? If so, then Fiverr may be a great opportunity for you. 

On Fiverr, you can sell your abilities to any of the millions of users actively looking for freelancers. Freelancing allows you the freedom to choose when you work and what you do for work. 

Freelance work is also a good opportunity to gain work and entrepreneur experience. On Fiverr, you can sell practically any service, so take advantage of your talents and make some money.

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