The price tag of college is skyrocketing – but to financially plan for college, students and families need to be aware of more than the tuition numbers. Don’t let these hidden costs of college surprise you:
1. Textbooks and Course Materials
Textbooks and course materials can be hundreds of dollars for a single course, and courses in the sciences or arts may have significant material fees for laboratory or art equipment.
Tips for Saving: Look for used books online (ThriftBooks and, sometimes, AbeBooks), in school or town libraries, and on college Facebook pages; if you need financial support, ask professors or other school resource representatives if they can help – they may even have an extra textbook around!
2. Extracurricular, Athletic and Event Fees
Many extracurricular activities, including Greek Life organizations and athletic teams come with annual dues, as well as fees to cover social events, travel, and even “swag” such as matching hoodies. While some extracurricular and athletic fees are only charged to participants, others may be charged to all students as part of tuition or an add-on fee.
Tips for Saving: Understand fees for activities early, and find the balance of activities that works for your budget – many activities on campus have no fee at all. In addition, some activities may offer sliding scales to support participation for students who otherwise cannot pay.
3. Summer Programs
Summer time can be expensive: many internships are unpaid, and some students pursue opportunities like study abroad or additional coursework in the summer, which can add up with costs like short term housing and transportation.
Tips for Saving: If you need a paid internship over the summer, start looking early. Many of the highest paying internships recruit as early as August or September the year before they start! In addition, look for other ways to save – can you live at home or with a family member or friend? Can you find a roommate? Does your school offer funding for unpaid internship programs or scholarships for summer study abroad?
4. Additional Living Expenses
While many students pay for room & board, many costs are not factored in. Dorm room furnishings – sometimes even couches and kitchen equipment – may not be included. Some students may also have a car on campus or have to fly or take a train or long drive to get to campus. When flying, luggage costs can add up too. Lastly, even though students may have many meals in the cafeterias, eating out is a common expense.
Tips for Saving: Take advantage of used furniture or lower cost options like Ikea and Walmart; When traveling, try to buy flights or transportation ahead of time, and limit your luggage. Perhaps a friend can store items over the summer! Social life can get expensive in college, but look for activities that cost less – maybe you can host a home-cooked dinner, or a board games night!
5. Technology Costs
Lastly, technology costs can add up in college. Some schools have technology fees to cover school assigned laptops, while others require students to purchase their own. Laptops are essential for college now, and some coursework may even require specific software.
Tips for Saving: Look for used technology – college campuses are a great place to find a used laptop, phone, or even accessories like Airpods for sale.
As college prices rise, being aware of hidden fees is even more important for planning for the costs of college. By planning ahead, students and families can take advantage of several options when it comes to affording college: college and private scholarships and financial aid, part-time and summer jobs, and budgeting wisely can all make a difference.
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