10 unconventional passive income sources for college students in 2021
Often, students are looking for part-time jobs to support their daily expenses and reduce the burden on their student loans.
According to the Georgetown University report, 70% of American students work part-time while studying. But unfortunately, the more hours students work, the more their grades suffer and make it harder to graduate.
Therefore, it is important for students to find the right part-time job to make them financially independent without sacrificing their education.
It may seem difficult to find the perfect part-time job to fit your busy college schedule, but it is possible. Yes, students, there are many sources of part-time passive income today that can help you earn a lot of money without compromising your education.
Below, we’ve picked out the best part-time jobs for students that you can try out today!
1. Sell your study material
If you take every note or create flashcards for quick learning, you can be an independent student. You can sell your crisp study material to other students at your college or other universities to earn secondary income.
But won’t that be unethical?
Well, there is a fine line between unethical and ethical in this method. If you’re doing someone’s homework in exchange for money, it’s unethical. On the other hand, we can’t call it unethical if you upload your old homework to your website for reference with a small subscription.
However, you should check your college’s policy on plagiarism and students selling their study materials before implementing this idea.
2. Teach other students
This is the oldest and most popular part-time job for students. Teaching or tutoring other students allows students to earn money while helping them with their own studies. So it’s a win-win situation.
However, this part-time job has a little problem – you have to be good with your studies. If you are not good at studying, you cannot teach other students. Also, you can only generate a few dollars a week by tutoring, which will not be enough for your daily expenses and tuition.
3. Become a driver
Today, if you have a car and a valid driver’s license, you can easily become a Lyft or Uber driver. These companies allow you to work on your schedule. All you have to do is register on their app and you are ready to start earning money.
The only problem here is that these apps deduct a percentage of your income as an expense. It’s fair because they provide you with a proper infrastructure to find riders.
However, if you don’t want to share your income with anyone, you can just rent your car. You can rent your car to tourists who visit your city for a few days or to your college friends. All in all, if you can find your own car rental companies, there is no need to rely on taxi app companies.
4. Offer your elite company
Driving a taxi or selling your study materials won’t be enough if you have to pay your school fees while supporting your family. You need a part-time job that can get you more money in fewer hours. And this job is the escort.
Don’t be shocked! The escort industry is a legitimate business model where many young girls and boys work today. Most importantly, being an escort doesn’t mean being a sex worker or a prostitute. Escorts offer a variety of services that have nothing to do with privacy, such as companionship.
Some escorts simply accompany clients to corporate events, parties, or just talk to them. Today, you won’t realize how many people are willing to spend a lot of money just to have a beautiful companion by their side at a business meeting or someone to talk to when they are alone.
In addition, anyone can become an escort today. Simply create your profile on the UK Escorts Directory, specify your services, upload your photos and you are ready to go.
The best thing about this part time job is that you will get the cash on the spot. The moment you go on a meeting with a client, he or she will give you the money. So whenever you need instant cash just go with someone as an escort.
5. Rent your room or house
College students often live in shared accommodation as they can share the rent that way. So if you have a spare room in your apartment or house, you can rent it out to someone else to earn extra money.
To find a roommate, you can share information on your college bulletin board or post on Facebook. Nowadays there are many websites and online applications available to find suitable tenants as well.
If you don’t want someone living with you all the time, you can hire occasional tenants. How? ‘Or’ What?
With Airbnb, you can rent your room or the whole house for a weekend or a few days. This way you don’t have to stay with a tenant until the end of the lease.
Suppose you are visiting your parents for the weekend; instead of leaving your house empty, rent it out on Airbnb. That way, while you relax with your parents, your house earns you money.
6. Sell your business online
If you’ve got a huge bunch of old stuff lying around your house, you’ve got some money there too. You can sell your old stuff online on Craigslist or eBay and make some extra money. Especially if you have old smartphones or laptops selling them can help you earn some good dough.
But unfortunately, this method will generate income once, not constantly. You can create items and sell them online for regular income.
For example, if you are good at photography, you can sell your photos on image websites. Likewise, if you create DIY art from junk, you can sell it on eBay for a good price.
7. Get started as a social media influencer
If social media is an integral part of your life, and you have thousands of followers on your social media accounts, you have opportunities to make money as well.
Today, many brands and marketers are eager to partner with social media influencers to promote their products at a significant cost. For example, if you have a makeup tutorial YouTube channel, you can reach out to beauty and cosmetic brands to promote their products on your channel for a small fee.
Social media influencers can not only make money from paid referrals, but they can also sell premium products to their followers. Suppose you are teaching math online; you can only host special live seasons for premium users or provide additional services for paid members.
However, you can’t become a social media influencer overnight. To establish your brand identity, you need to constantly share valuable content and engage with your followers on social media platforms. All in all, it’s a long process with an unstable income generation system.
8. Publish an ebook or audiobook
Suppose you have a talent for writing. In this case, you can use KDP, CreateSpace or similar platforms to publish your ebook. These two platforms are affiliated with Amazon. You can just write an ebook and sell on Amazon without spending a dime on publishing.
Likewise, the audiobook format also allows you to generate passive income. What you need to do is convert your already written ebook to audio format and upload it to one of the platforms designed for it (eg Audible and iTunes).
You just need to promote your book and survive your college life on the royalties from the sales of your book.
9. Try your luck in forex trading
Are you studying finance in college? Then you can use your financial lessons and dive into forex trading. Forex trading, aka FX, is the trading of one currency against another.
For example, you can exchange dollars for euros or vice versa. All of these transactions take place in the forex market, so this is a completely legitimate method of making money.
However, you need immediate knowledge of the global currency market and some funds for the initial investment in forex trading. Plus, it looks a lot like stock trading, so one wrong move and you could end up losing your own money.
10. Become a private chef
Can you cook different cuisines? You can become a private chef and cook delicious meals for other people. You can work with families or seniors who need help with cooking and paying for your school fees.
To offer private chef services, you need to promote your services on social media or even start your own website. You can list your services on third party sites like HireACchef.
College is perhaps the most enjoyable and fun time in life. You make new friends, learn new things and party like crazy.
But in all of this, remember that you have a big student loan to pay off. If you don’t take your finances seriously now, you will end up in huge debt after you graduate.
Finding passive sources of income to support yourself while in school is a smart way to go. Just make sure you choose a part-time job that won’t impact your grades.