Budgeting for College
Scholarships are a big help
College can be intimidating, especially when you don't know much about what to expect. How can you budget for something you know little about? As a freshman, you'll most likely be living on campus (or at home). As a result, room and board will be part of your tuition, which makes budgeting a bit easier; yet, you still need to take into account other expenses, such as books and supplies, your hobbies, and even having some fun with new friends you meet.
Other Expenses
The table on the previous page is only meant to show the average cost of tuition, fees, and room and board for full-time undergraduate students. This will give you an idea about how much it costs to attend college these days. Also note that costs increase every year, far outpacing inflation. You should consider some of the following expenses as well:
Other Expenses
In order to properly budget for this, you need to have a baseline of anticipated expenses, which will differ depending on location. Speak to an admissions advisor about the average costs of your chosen college and then begin budgeting. This will help you determine how much you'll need to earn every week or month to keep you from stressing about funds.
-
Books and Supplies
-
Utilities
-
Auto Insurance
-
Vehicle Expenses
-
Parking Fees
-
Cell Phone
-
Savings
-
Incidentals