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Each Sim student starts off with a budget separate from any family they may have come from. In University, students can spend their money on luxury objects in their living spaces, excess clothing, electronic gadgets (i.e. mobile phones, mp3 players and portable video game consoles) or even the renting of a house that can be a private home or can be converted into a Greek House.

There are several ways to receive income as a student, including Tutoring and Physically Training other Sims. Students may also play Instruments or Freestyle or work part time. Sims can work as Cafeteria workers, Bartenders, or Baristas. If the player has Nightlife or Open for Business they can put items into their Sims' personal inventory before they go to University and then sell them when their Sims arrive.