If you or your child is getting ready to go to college, then you have a major expense ahead of you. We are going to give you a brief overview of the four primary expenses associated with attending a university so that you are not surprised by any hidden costs.
- Tuition – We will start with the obvious and most expensive cost of attending college. Depending on the school that you choose, this could range from a couple of thousand per semester (for a local community college) to tens of thousands of dollars per semester.
- Room and Board – If the school isn’t close enough to commute from home, the next largest expense will be room and board. If you are paying the school to live on campus at a dorm, this could be $10,000-12,000 per semester. If not, you will have to find suitable accommodations nearby and factor in travel expenses to school each day (perhaps owning a car or taking public transportation).
- Books – Depending on how many classes you take per semester, you can expect your books to cost between $1,000 and $1,500 per year. You can save a little by purchasing previously owned books if they are the same edition currently being used in class. You can also offset some of the cost by selling your books when you are done with them.
- Additional Fees – The last category is miscellaneous fees that may occur. This can include travel to home for the holidays or between semesters as well as school supplies, personal care items, and some money for recreational activities.
Planning Your College Experience the Smart Way
College Planning Source is here to help your family get a jumpstart on college planning. Call us today at 858.676.0700 to learn more, or you can request your assessment online. All assessments currently take place on Zoom until further notice.
