There are other college costs to consider when planning for college. Room and board is the next largest expense for students, averaging $10,000 per year. That’s on top of tuition and fees, which average about $25,000 annually at public universities and more than $33,000 at private schools.
Books and supplies can also add up, with students spending an average of $1,200 a year. Then there are transportation costs, which can vary significantly depending on where a student lives. And don’t forget about things like lab fees and student health insurance premiums, both of which can run into hundreds of dollars.
So when you’re tallying up your expected college costs, include everything – not just tuition and room and board. Using a cost calculator can help you get a better idea of what to expect.
7. Books and supplies
While the cost of tuition and room and board at colleges and universities continue to rise, other costs factor into the price of higher education. These additional expenses can range from textbooks and supplies to transportation and parking.
For example, the College Board reports that the average cost of books and supplies for the 2016-2017 academic year was $1,250. That’s a significant amount of money for students who are already struggling to afford college. In addition, in some cases, schools have started requiring students to purchase course materials online, which can add even more to the cost.
In addition to textbooks and supplies, students also need to budget for other incidentals. For instance, many colleges charge students fees for using the library or health center. And then there are transportation costs. In addition, many schools are located in urban areas where parking can be expensive.
6. Travelling home
Travelling home for the holidays can be expensive, but there are ways to save money. Airfare and other travel costs can add up, but there are ways to reduce expenses.
One way to save money is to book flights early. Airlines often release their cheapest fares weeks in advance. Another way to save money is to fly on a budget carrier like Spirit or Frontier. These airlines charge for checked bags and other amenities, but their fares are often cheaper than the major carriers.
Another way to save money when travelling is to stay with family or friends. This can be especially helpful for students who live far from home. Staying with family or friends can also be a great way to catch up with loved ones.
Finally, students should be mindful of their spending while on vacation. Overspending can quickly negate any savings achieved through careful planning.
In addition to tuition and housing costs, transportation can be a major expense for college students. Depending on where a student lives and how they get to campus, transportation costs can vary greatly. Public transportation or walking may be the cheapest option for students who live on or near campus. However, for students who live further away or have to drive to campus, the cost of gas, car repairs, and parking can add up quickly. Therefore, students should factor in transportation costs when budgeting for college.
4. Studying abroad
When most people think of the cost of college, they think of tuition and housing. But there are other costs to consider when planning to study abroad. These costs can add up quickly, so it is vital to be aware of them before making your decision.
One cost that may surprise people is airfare. If you are not a resident of the country where you will be studying, you will likely have to pay for airfare both to and from your destination. This can be expensive, especially if your flight is international.
Another cost to consider is food. Most colleges do not include meals in their tuition and housing fees, so you will have to budget for food expenses. This can vary depending on the country you are studying in, but it is typically not cheap. Finally, don’t forget about expenses like textbooks and visa fees.
3. Greek life
The stereotype of college students is that they live in a dorm, and their only expenses are tuition and room and board. However, there are other costs associated with attending college. For example, there are additional costs to consider for students who join a Greek organization.
One such cost is the fee that the national organization charges. This fee can range from $50 to $600 per year, depending on the organization. Additionally, there are often local and regional fees as well. These fees can add up quickly, especially if a student belongs to more than one organization.
Another cost associated with Greek life is clothing. Many organizations have specific colours and logos that must be displayed on clothing or other items. These items can be expensive, especially if a student wants to purchase high-quality merchandise. Finally, there are social events hosted by the organizations.
When it comes to the cost of college, most people think about tuition and housing. However, other expenses add up quickly. For example, textbooks can be expensive, and many students also have to buy lab clothes or uniforms. In addition, some schools require students to purchase a meal plan. These costs can add up, and it’s important to factor them into your budget when planning for college.
1. Technology and electronics
There are many technology and electronics items a student needs for college. The costs of these items other than tuition and housing can add up. For example, a laptop is required for most classes. The least expensive laptops are around $200, but they usually do not have the best features. A good laptop with all the features a student may need can cost $1,000 or more. Tablet computers are also popular in college classrooms now.
They range in price from $100 to $1,000 or more. Many students also want smartphones, and they can cost anywhere from $50 to $700 or more. Then there are the accessories such as cases, headphones, and batteries that can be necessary. These items can add up quickly, so it is important to budget for them when planning for college expenses. The good news is that laptops are considered qualified expenses for 529 college savings plan distributions.
Source: | US News