pay the way
unexpected college costs
DON’T GET
CAUGHT
OFF GUARD
By Megan Dorsey
Obtaining a college degree can
be expensive, and many graduates
find themselves paying off student
debt for years after graduation.
Students and parents often take
into account the standard costs of
tuition, housing and food, but there
are a number of often-unexpected
college costs families should also
plan for. By being prepared for the
full breadth of expenses going into
a college semester, students can
better manage their finances. The
following categories respresent
expenses many new students do
not anticipate.
FEES
Students should expect to
pay some standard fees every
semester: facilities charges, computer lab
fees or library fines. But there are some
fees students may be surprised to find on
their bill. For example, summer classes require additional expenditures. In addition,
students in classes that require supplies
or materials—such as art, architecture or
science labs—may need to pay additional
charges. Furthermore, even online students may be surprised to find recreation
center or athletic facility fees applied to
their bills, even though they may never
set foot on campus. These added charges
can add hundreds of dollars to a student’s
college costs every term.
12 |
Winter 2015
TRAVEL
Every college has an online cost calculator that includes student travel to
and from school. However, in reality many students find the cost of travel
to be much higher than expected. Students attending college far from home may
encounter significant fluctuations in the cost of airline tickets, and they also may find
it expensive to transport their belongings to and from campus each year.
TEXTBOOKS
Textbook costs are another expense that families plan for; often, though,
they’re suprised by how much higher the actual expenses are than their
preliminary estimates. The cost of books varies depending on the type of class. A
student taking biology may find the single required textbook costs $170. Another
student taking a literature class may find the paperback novels are much less
expensive at $10 to $20 each, but with 14 required novels for a single class, the cost
adds up. Students can expect to spend $500 to $900 per term on textbooks. Renting
books may offer a money saving alternative.
PARKING & CAR EXPENSES
Students who had a car throughout high school understand that there are
usual operating expenses in keeping a car. What many families don’t
anticipate is the expense of parking and keeping a car on most college campuses.
Some schools have ample parking and hand out parking permits at no charge.
However, students living on small, crowded campuses or in busy urban areas may find
the cost of parking is $200-$500 per month. If parking is a problem on campus, many
students find themselves facing parking tickets, and over the course of the semester
those charges can add up. Families who budget for only regular maintenance and gas
often find themselves surprised by unexpected charges.
GREEK LIFE
On paper, the cost of participating in Greek life—sororities and
fraternities—can seem minimal. Each chapter will often have annual
dues, and there may be additional fees associated with living in the house. The
unexpected costs, however, can quickly add up to hundreds or even thousands of
dollars per semester. Students will often have to purchase tickets to special events,
appropriate attire to attend these events, and make donations to their sorority or
fraternity’s causes. To get an idea of the actual cost of participating in Greek life,
students should ask current members about their expenses over the past year or two.
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