College students constantly seek ways to earn extra income without sacrificing too much of their study time. One of the best solutions to make extra money is to create one or more passive income streams.
Passive income means that you invest some money or time into something, and continue to earn with minimal ongoing effort. It allows you more time to study instead of taking a work-study job.
Fortunately, there are plenty of passive income opportunities that allow college students to earn money as they attend classes, sleep, or party. These opportunities range from content creation to selling digital products and investing in financial assets.
Here are some practical passive income ideas for students to make money.
Become a blogger
Blogging is one of the most popular low-cost opportunities that students can start and earn a passive income.
Pick a topic you are passionate about, and start a blog- whether it is travel, sports, finance, cooking, or tech. You can start writing topics you are passionate about, build an audience, and monetize your traffic through ads, sponsored posts, and affiliate marketing.
To start a blog, you need a domain and hosting and build your website. If don’t know where to start, pick one of our blog design options to get started. Once your blog is up, you can post consistently to grow your readership and attract brands that align with your niche.
Affiliate marketing
Students can earn extra money by promoting products they love, and earn a commission for every product they sell. You can promote affiliate products through your blog, YouTube channel, or social media platforms like TikTok and Instagram.
The first step in becoming an affiliate marketer is joining popular affiliate programs like Amazon Associates, ShareASale, and Commission Junction. You can find products you have used or are familiar with, and start promoting them to your audience.
For example, if you are passionate about tech, you can promote tech gadgets and software like routers, gaming apps, laptops, etc.
Be aware that it might take some time to earn some income, but once your network expands, it can become a source of passive income.
Start a YouTube channel
If you enjoy creating video content, why not create a YouTube channel and monetize your content? YouTube allows content creators to share their passions with the world, and earn a steady stream of income.
To be eligible for the YouTube Partner program, you must reach 1,000 subscribers and 4,000 watch hours. You can then monetize your video content through ads, brand sponsorships, and memberships to exclusive communities.
The process of creating, editing, and uploading content can be intensive, but you will reap the benefits once people discover your content and become loyal subscribers. Many YouTubers earn a full-time income from the platform, and it’s a viable option for students who want to earn passive income.
Sell stock photos
If you enjoy photography, you can earn passive income by selling stock photos. Various websites like Adobe Stock, Shutterstock, and iStock allow photographers to upload their best pictures, which customers can purchase on the platforms. One benefit of stock photos is that one picture can sell many times, giving you a continuous stream of income.
To start selling stock photos, you need a professional camera or a good phone camera with high-quality resolution. Focus on taking photos with a commercial appeal, including nature images, skyscraper shots, food pictures, lifestyle, classes, etc.
Selling stock photos can be a lucrative passive income for students interested in photography.
Write an eBook
If you are an expert in a particular subject, you can write an eBook and earn royalties. Whether it is a fiction, self-help guide, or a guide on forex or bitcoin trading, you can offer value to readers while earning an income from it.
Once you have finished writing, editing, and formatting your eBook, you can upload it to a digital products marketplace. You can sell the eBook on platforms like Amazon Kindle Direct Publishing or via your blog.
You can promote the eBook on social media, blogs, or through an email list. You can publish more eBooks to establish yourself as an author and earn consistent income over time.
Buy dividend stocks
Investing in dividend-paying stocks can provide regular payouts, usually every quarter based on how the company performs.
You can pick high-quality dividend stocks, and earn a consistent passive income in the form of dividend payouts, even as your stocks appreciate. To start trading stocks, set up a brokerage account and pick companies with a record of paying dividends.
While some dividend stocks may require a high initial investment, you can find low-cost dividends that can yield significant returns in the long term.
Sell printables
Printables are digital products like planners, calendars, and checklists that you can design and sell repeatedly with no additional effort. Customers can download the designs and print them on their own, and you won’t need to ship anything since it is a digital product.
Students can focus on creating printables that appeal to other students, including budgeting worksheets, academic planners, and motivational posters. Find products that add value or solve a problem for your target audience, and create a unique design.
While having graphic design knowledge is a plus, you can use pre-designed templates on Canva to design unique printables. Once you have the designs ready, you can sell them on social media or via your blog, and earn a continuous stream of passive income.
Print-on-demand
If you have creative design ideas, you can start a Print-On-Demand (POD) business to design and sell merchandise like t-shirts, mugs, and phone cases.
One benefit of the POD model is that you don’t hold inventory- POD companies like Printful handle everything from printing and shipping, and your work is to create designs. This makes POD a hands-off approach to generating passive income.
To start a POD business, design artwork, upload it on Printful, choose products to feature the art, and list them for sale. Once someone makes a purchase, Printful will handle the production and shipping, and you will earn a commission on each sale.
With good marketing, you can generate a passive income as you attend classes.
Product photography
Many online and traditional businesses require high-quality photos of their products, and you can distinguish yourself as a product photographer to attract these clients. You can sell licenses to your stock product photos, or offer your services as a freelance photographer.
To get started with product photography, get a professional camera or a good phone camera. Approach small businesses in your area and offer your services at a fee. You can also upload high-resolution product images on premium stock photo websites like Shutterstock, and sell licenses to your images.
Start tutoring
As a college student, you have amassed knowledge in several subjects that students in lower levels can tap into at a fee. You can develop lesson plans, tutoring materials, recorded lessons, and online courses that can be purchased online.
Some of the in-demand subjects include Math, science, coding, and engineering. You can create lesson plans in video and content lessons, and upload them on Udemy or Teachable for students to purchase.
Creating lesson plans and online courses can become a source of passive income, as students purchase and use your resources in their studies.
Tips for creating passive income as a student
When finding passive income ideas for students, there are several handy tips to make it easier to get started.
Start small
Creating a passive income is not a one-day event- it can take several weeks or months to earn the first dollar. Pick an idea that you are interested in, start small, and scale as you gain experience in the craft.
Leverage your skills and interests
If you want to succeed in passive income ideas, start with something you know or are passionate about. Whether it is writing, photography, or graphic design, find a passive income opportunity that you can have fun with and make money. Whether it is Print-On-Demand, selling printables, or selling stock photos, pick something and start.
Be consistent
Launching a passive income business takes a lot of effort and commitment, and you should be patient and consistent to make money from it. Whether you started a blog or YouTube channel, put consistent effort over time to start seeing results.
Balance your time and studies
While earning money as a student can be rewarding, it should not interfere with your studies. Plan your time well so that you have enough time for your studies and some spare time for your passive income projects.
Create multiple income streams
Passive income projects can be a reliable source of income, but they can run out in some periods. To maximize your earnings potential, you should create multiple passive income streams to ensure you have several incomes coming in at any time.