College financial aid packages will start arriving this month, but when you begin comparing your out-of-pocket costs, be sure to include expenses that go beyond room, board and tuition. These costs may vary from one institution to another, but they really add up quickly.
- Books—College texts are very costly. You might be able to save on books by downloading e-books, renting textbooks from Amazon or Chegg, or buying used editions at the bookstore or online.
- Food—Meal plans differ from college to college—buy the plan that best reflects the way you are likely to use it. You’ll also need to budget extra money for pizza, snacks, etc.
- Transportation—Distance from home and availability of lower cost travel should be considered. If you will be traveling by air, buy tickets well in advance for peak travel periods such as Thanksgiving. Bringing a car to campus? Better add in the cost of parking.
- Greek life—There are lots of extra costs associated with going Greek. Initiation fees, membership dues, sometimes higher costs when you live in the sorority or fraternity house rather than in campus housing. Special activities also can be costly.
- Studying abroad—Extra expenses are often incurred including air travel, living expenses and visas. Some colleges will provide stipends to cover additional expenses so that more students can experience a semester abroad.
