22 Ways for College Students to Make Money on the Side
If you have a car and a state-issued driver’s license with a clean driving record, and have been driving for at least one consecutive year, then you may be eligible to start making money as a driver for Uber or Lyft, although these companies have certain restrictions, such as Uber requires its drivers to be be 21 and older and to own 4-door vehicles. In addition, some states may require special licenses to function as a commercial driver.
The upsides are you can make your own hours and will learn the hottest spots in your town in the process, however the profits for rideshare drivers vary according to states, and you need to take into account costs such as wear and tear, gas and insurance, as well as, the commission charged for each ride. According to financial analytics site SherpaShare, New York drivers on average earn the most (Uber X $20.54; Lyft $20.03) while drivers in cities, like Baltimore (Uber X $9.77; Lyft $7.59) and Nashville (Uber X $8.11; Lyft $8.36) earn at the bottom of the payscale. (These are net earnings after expenses, including commissions.)
Earnings for cities (other than New York) generally range from about $8.80 – $11 an hour, not subtracting commissions.
Related: 50 Ideas for a Lucrative Side Hustle