You are most likely familiar with the “standard” costs of attending college like tuition, room, board, and student fees.
While these are the main expenses during college, it is helpful to budget for other costs your student may incur during their college journey. Planning for these “unexpected” expenses will hopefully alleviate potential stressful conversations to decide if the extra costs fit the family budget.
Below are common items that are most likely not included on the institution’s financial aid page.
- Parking. If your student plans to have a car on campus, they will likely need to purchase a parking permit each academic year. Some institutions might roll the parking permit fee into general student fees, but it is not uncommon to need to buy a parking permit separate from the typical costs.
- Athletic events. Your student’s college ID might grant them admission to the student section at athletic events at their institution, but they may need to purchase a ticket for each game they want to attend.
- Student activities. Institutions plan events for your student to enjoy during their time at college. Many of these events will not have an extra cost to attend, but there may be certain activities that your student will need to pay out of pocket for. Concerts or shows typically require students to purchase tickets to bring entertainment to campus. Student plays often have a nominal fee to attend. Sometimes, a “movie on the lawn” will be offered for free, but institutions pay a hefty fee to show movies publicly. So, the institution might need to offset that cost with ticketed entry. If a game room is on campus, there might be a rental expense for playing pool, bowling, or other activities.
- Healthcare costs. If your health insurance does not cover your student or the local providers are not in the network, there might be expenses related to healthcare.
- Greek life. Joining a fraternity or sorority is another expense to budget for if your student joins. Most Greek chapters are required to pay national membership dues for each member. The local chapter also needs operation funding so members pay a set amount per semester or academic year. Additionally, living in a fraternity or sorority house may not cost the same as living in university housing.
- Travel. You want to visit your student or have them come home during breaks. Depending on the distance to campus, one of you will need to pay to travel for visits.
- Misc. It might be helpful to ask a representative from the Admissions Office if there are other miscellaneous expenses. They will most likely know if there is a significant cost your student will incur that may not be included in the attendance cost.
While these costs will vary by institution, advanced financial planning can make the transition from high school to college less burdensome.
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