Additional Costs Of College (Besides Tuition), Guest Post

So, your student has gotten those hard-earned (and highly coveted) acceptance letters. (CONGRATS!) You’ve gotten the screaming/dancing/calling everyone you know out of your system, and now it’s time to start preparing for the next step: paying for college.

Everyone knows that tuition is the primary cost of college, but there are a variety of others that can add up significantly.

It’s important that these costs are understood by the entire family —from those who are able to fully finance their student’s education to those on financial aid. Actually, it’s especially important for the latter, since you can’t get grant, scholarship, or loan money to cover many of these expenses.

Below is a list of additional expenses you should keep in mind as you’re preparing to send your student(s) off to college:

1. Dorm Room Amenities
Sometimes it’s a surprise to walk into an empty dorm room to see a couple of twin beds, maybe a desk… and that’s it. Your student and his/her roommates will often want to supplement this furniture (or lack thereof) with a futon, some wall decor, and a TV with stand.

2. Text Books
This is an obvious expense, but what’s less obvious is exactly how expensive books can be. It’s not unusual to pay a couple hundred dollars for a huge textbook or some rare, out-of-print edition of a centuries-old novel. Oftentimes, libraries will keep books like this on reserve, but they’re usually in high demand.

3. Transportation
If your student’s school is in a city, they’ll probably need to use public transit—buses, subways, and trains. If they’re in the middle of nowhere, they might need to rent a car if they want to take a local daytrip. The biggest expense, of course, is traveling home, especially once air travel comes into the picture.

4. Food and Meal Plans
There are going to be times when the incessant heartburn from dining hall chickwiches will make your student say, “Enough!” And no student can ignore the call of Chipotle now and then. Or group brunches/lunches/dinners. Or a run to the local grocery store for some fresh veggies and hummus. While these things don’t cost much, many trips like this over the school year will add up.

5. Leisure Activities
Sometimes, students need to treat themselves. Perhaps they just finished finals and The Weekend is in town. Or everyone in their hall is going away for a camping weekend. It’s important to set a budget for these types of activities, since this is one tally that can get unruly and fast.

6. Rent
Some colleges guarantee four years of on-campus housing, but many schools do not. This means your student will have to pay rent, which can vary dramatically based on the location of their school. (And often, along with rent, students will have to pay (again!) for additional amenities in their new house/apartment.) 

7. Clothes and Gear
This expense can be significant, especially if your student going to school somewhere with a contrasting climate from your home. If they’re at school in Hanover, New Hampshire but hail from San Diego, you might be surprised at how expensive good snow boots and a sturdy winter coat are. And if your student is making the reverse trip, you’ll need to load them up with board shorts, quality sunglasses, and plenty of sunblock. Lucky guys.

8. Jobs/Internships
The costs here mainly come from the search. Your student may need a nice interview outfit, and they also may need to travel to interviews. If they land an unpaid internship that’s in a big city, they’ll have to factor in significantly higher expenses—rent, transportation, and food.

9. Graduate Exams
This is an expense that can really sneak up on you. Registration fees alone can be hundreds of dollars, and let’s say your student takes the test—GMAT, LSAT, MCAT, GRE, or others—and is not happy with his/her score. The best bet is to hire a test prep company, whether they take group classes or work with a tutor. It’s expensive, but it’s a relatively small price to pay considering the leg up a great score can give them.

Seems like a lot, right? Well, first things first, take a deep breath. These expenses won’t all hit at once, so you’ve got time to prepare! And there are some great underutilized college resources that can help. And don’t forget: your student still has a full summer ahead to get a job and start saving for those Chipotle runs and weekend getaways. 

Have additional questions?  From dorm room decor for admitted students to course selection strategy for high school students planning ahead for college admissions, we've got plenty of advice to share.  Get in touch with us!

This blog post is from our friends at Admissionado, a premiere MBA and college admissions consulting consulting company. Jon obtained an undergraduate degree from Brown University, and his MBA from Harvard.  Passionate about the transformative power of education, Jon (and the Admissionado team!) has helped thousands of college and MBA aspirants get into top schools since 2008.