College Students Expenses
By Anne Jones
Going to a top college can be hard because it is really costly. A student and his family must be prepared by all means to keep this commitment to further a student's education. So awareness of how much your college education would be is critical because it is not limited to tuition fees. There can be more expenses to be expected when a student goes to college.
Let us look at the general list of what a student pays in college.
First would be tuition fee. Tuition fees can be at the range of $6000 - $25,000 for a four year course. Take note that public colleges have smaller tuition fees than private colleges. So look to this as an option.
Second would be living in colleges. A student in college usually would try to find work in between to cover the cost of living. It is something that should be considered before going to college because you have to think of things like rent, food, bills and other travel costs. A common student would need an average of $1,000 extra for these extra expenses.
Third are the materials you need to study. These are the givens like books, bags, IT equipment and could cost to at least $2,000 a year.
So it is important to be able to budget before you go to college. Make sure you leave yourself some extra money monthly for self use. Try to find a monthly average of your expenses so you could allocate your funds accordingly.
Going to college is a big investment but in the long run the education you get would allow you to get bright opportunities when working which can make your life and family. Students could also try to get student loans, or grants to help out aiding the financial needs in college.
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Article Source: http://ezinearticles.com/?College-Students-Expenses&id=2799869

Common College Costs

There Are More College Expenses Than Just Tuition & Fees. Everyone knows college is expensive. But just what exactly makes going to college so costly?
When thinking about -- and planning for -- college costs, it can be helpful to break up your college life into different categories. Remember, too, that even if you have financial aid to cover some of your college costs, everything still should be listed and accounted for when planning your budget.
Academic Costs. Academic costs may be some of your larger expenses during your time in school. Common academic costs include: * Tuition * Fees * Books * Computer, printer, paper, printer cartridges * Software * Jump drive * Highlighters, pens, notebooks, post-its * E-reader (if used at your school) * Costs of attending events required for a class (e.g., museum exhibits) * Time management system (e.g., app for phone, paper calendar)
Living Costs. Living expenses are the things you'll need to live your non-academic life in college: * Housing * Food * Clothes * Utilities (gas, electricity, phone, cable, internet, water, sewer, trash) * Parking and/or commuting costs * Personal care products (shampoo, conditioner, soap, razors, deodorant, laundry soap, lotion) * Seasonal items (suntan lotion in summer, lip balm in winter) * Vanity items (make-up, haircuts, hair products)
Personal Costs. Personal expenses are things that are unique to you but still an important part of your college life. * Travel home (e.g., airplane tickets, gas) * Medication refills and doctor's visit copays * New glasses or contacts each year * Entertainment costs (e.g., seeing a concert)
(Academic) + (Living) + (Personal) = Your College Costs
Having an idea about -- and a budget for -- your college expenses will help you plan for how much money you'll need during your time in school. Because no one wants to be that student bumming ramen noodles off their friends as the semester ends, right? Right!
Article Source: http://collegelife.about.com/od/moneyfinances/a/Common-College-Costs.htm
Common College Expenses
Posted by Lindsey Connell

An important thought for many high school graduates is how much money they will need for their first year at college. Although this amount varies from person to person, the expenses are generally the same.
Some major expenses to consider are who will pay for gas if the child has a car or who will pay for their phone bill. It is also to be expected that expenses will be more at the beginning of the school year and at the beginning of the college experience.
Other costs are book fee which can be extremely expensive as well as parking passes. Besides this, students may need money for gifts for friends, for tolls or other expenses during traveling, and new clothes or essential hygienic products.
Food is another major expense because not only do students go out to eat every now and then, they also have to pay for meal plans or pay for buying their own food from the grocery store. Although most students don’t turn 21 until their junior or senior year, many college students of all ages spend a significant amount of money going to parties or the bars. Although small purchases such as buying an outfit or movie ticket here or there eventually add up and can create financial issues if not budgeted for correctly.
Article Source: http://drboycecollegefinance.blogspot.com/2009/11/common-college-expenses.html
Typical Expenses in a College's Budget
By Mary Jane, eHow Contributor
A student must prepare a budget before heading off to college to ensure that all of the expenses are covered under the loans and income the student currently has. The overall expenses of a college student can differ, as students living at home do not have to pay common living expenses as those living on the campus or in nearby student housing. Also, the amount of each expense differs on the institution and the academic program in question.

Tuition * Tuition payments are entry payments the student must pay to attend classes and work toward getting a degree or diploma at a college. Tuition payments are either paid each semester or once per year. The total amount differs depending on the college in question and the type of program the student is taking. Tuition payments are often used by the college to pay teachers, fund laboratory equipment, improve the overall student learning experience, improve the campus library and fund teaching assistants.
Books
* The books for the college program and courses can be a large and pricey purchase. Books need to be purchased each semester, as the courses for a given program change each semester upon completion. While some students purchase the course books new from the campus bookstore, others choose to save some money by buying them used. Either way, books are a common expense in a college student's budget.
Rent and Housing * College students who are living on campus or in off-campus housing must include rent and housing expenses in their budget. This includes rent, utilities, transportation fees to get to campus, and clothing, if necessary. Students who are sharing a house with other students can save money by splitting all costs.
Groceries
* If the student lives on campus or in nearby housing, she is responsible for purchasing her own groceries. Some campus programs provide a food program where the student can purchase a meal plan at the time of enrollment so she can eat at a restaurant or food services on campus for the amount paid up front. Students in nearby housing must budget for groceries, as they are responsible for purchasing and cooking food.
Entertainment
* Although college students are busy individuals, they must take time off to relax and socialize with other students. This can include events on campus, a trip to the movie theater and outings with fellow students or celebrating friends' birthdays. While some students are on a strict budget, others allow more funds to be social. Social expenses need to be accounted for in the college budget, as some social events can be associated with the given college program.
Article Source: http://www.ehow.com/info_8189790_typical-expenses-colleges-budget.html

The Biggest Student Expenses

While you are at college, your student expenses can really add up. Before you can begin searching for aid or student loans, you’re going to have to know exactly how much you will need to get through the school year. This article offers up common student expenses and money-saving tips.
Tuition and Fees
Tuition is one of the largest student expenses you will have. The admissions office at the schools that you are interested in will be able to give you all of the information you need about each semester’s tuition and fees.

Student Housing
Housing is also a huge student expense. Unless you will be living at home with your parents, you will need to arrange some sort of student housing. The amount of money that it takes to live on-campus and off-campus will depend heavily on the school that you attend and its location. The school’s financial aid office should be able to supply you with an estimated cost of each option.

Books
The books you need to complete your college course will be expensive. To minimize this student expense, you can buy used books. You can check with your school’s financial aid department to see if they have any used books for sale or you can shop local bookstores or sites online.

Food
Living on peanut butter sandwiches only works for so long. Eventually, you are going to have to eat. Hopefully your housing allows you to cook at home, because eating out on a daily basis can be expensive. You may also consider visiting the school cafeteria, which usually offers discounted rates. When figuring your student expenses, estimate $10 to $20 each day for food and drink.

Article Source: http://gradwise.org/anticipating_your_student_expenses-shtml/

Lowering College Costs For Current Students–Common Solutions To Additional Expenses That Create Financial Need
By Karen Byrd
There are some students who are currently making their way through college as many universities have begun their fall semester and, as students begin to adjust to living on campus for the first time or returning to their old routine, there are some who are looking for ways to lower college costs that may come from expenses which arise outside of common tuition, fees, or other required necessities like books. Yet, there are students who may be unsure of how they could potentially save on certain types of costs, and understanding the affordability options when it comes to these lesser expenses may be the difference between some students being able to meet these costs throughout the year or some turning to loans as a way to pay for a variety of costs they feel cannot be met out of pocket or with any income they may have.
Yet, when it comes to costs outside of tuition, fees, or other expenses like school supplies, students often fail to realize that there may be some ways that their college or university can save them on certain expenses, but this will require research on the part of the student and it may vary from one university to another. As an example, some schools will allow a student to rent textbooks for the semester, while other colleges will have bookstores that may be off campus and could potentially offer more affordability when it comes to purchasing required texts.
Understandably, this will require that the student do some research into bookstores or options at their university and the surrounding area, but there are some who can cut costs on books and supplies by going off campus to purchase these necessities. There are universities that will not only allow professors to place orders for the specific texts that their students will require and make this information available to the university bookstore but there are, once again, off-campus bookstores that will have this information as well and could potentially offer more affordable prices for students who may be trying to save in certain areas. Obviously, used books or some textbooks that can be ordered online or also options that students may have available in this specific area of college expenses, but it will depend on a student’s situation as to whether they can find these books, get them delivered in a timely manner, if the university will offer the option of renting textbooks, or if there is much price difference on certain textbooks from one bookstore to another.
Yet, other factors like living arrangements and food are often at the forefront of a student’s financial concerns but there are some options that may be available to help students cut costs in these areas as well. When it comes to dining, many universities will offer a meal plan and in some cases this can be more affordable, in terms of a price per meal, for students who are either living off campus or, obviously, those students who are living in dorms on campus as well. Schools may require freshmen to purchase a meal plan, but when it comes to continuing this option there are some individuals who may be able to save more on a semester basis, and through the overall school year, by eating on campus as the meals they purchase may potentially be more affordable.
Also, when it comes to students considering moving into an apartment or a rental off campus, there are options that may be available from a university as well, like upperclassmen residence halls or even university apartments that could offer more affordability in terms of what the student would have to pay off campus in monthly rent. There are those who have been able to combine a variety of cost-saving efforts to help them lower their expenses when it comes to these extras that may be required for most college students, but again, each student is going to need to research the costs associated with these alternatives, compare how much options off-campus may be, factor in overall expenses like travel if a student lives off campus, or how much they may have to pay for groceries if these plans are not used.
While it will not always save the student a great deal of money, many advisers often point out that students who are looking for ways to cut costs may want to look at these options that range from on-campus living options, meal plans, and costs for school supplies so that they can better compare them to off-campus options in the same categories and, potentially, take advantage of these opportunities that may help them reduce their overall costs and even avoid the need to borrow student loans.
Article Source: http://www.rwbpress.com/2011/09/01/lowering-college-costs-for-current-students-common-solutions-to-additional-expenses-that-create-financial-need/
Ten Things College Students Waste Money On
Nancy Anderson, Contributor

When we made the decision to pay for my son’s college education many years ago, we never expected the price of tuition to almost double just as he entered the University of California. To top it all off, the timing of his freshman year followed a decade of lackluster growth in his college fund. We are not alone as parents everywhere are struggling to help their children walk across the stage in the cap and gown to gain a coveted college diploma. Parents may have socked away funds to pay for tuition and books, but with costs rising there is simply less money to spend on all the other expenses associated with being a student.
Because of the poor economy, students now have more of a burden to help pay for their own college expenses. No one wants to rack up huge student loan debt to pay for it all, but nearly two-thirds of undergraduates take out student loans, and college seniors are graduating with an average loan balance close to $24,000. It is daunting to finish college with high student loan balances and large monthly payments, and it sure takes the excitement out of graduating when you start making those payments, usually within the next six to nine months.

College students need to manage their money differently today than they have in the past. I was reminded of that the other day when I saw an ad with a college graduation photo of a student who obviously had a skier’s tan with huge pale eyes in the outline of goggles. The caption said, “Congratulations on your eight year college experience.” I smiled but cringed at the thought of my son doing that! The days of lingering at college and wasting money are over. Students today need to embrace the “starving student” mentality not just to help their parents pay for the COST of going to college—and thus reduce the amount of loans needed—but also to help themselves learn solid money lessons that will serve them well later in life.

Managing cash well is not only a good habit to learn but it also contributes to future financial success. In our research, we have seen a high correlation between employees who know they are on track for retirement and day-to-day money management skills. In the landmark book The Millionaire Next Door, Thomas Stanley and William Danko found that one of the common denominators among people who become wealthy is to live below their means. The millionaires in their study saved a much higher percentage of their income than the 10% that financial planners typically suggest as a rule of thumb. They also exhibited traits of being frugal throughout their lives. Now might be a good time for students to start.
Struggling through college, taking on greater financial responsibility to reduce expenses, and learning to live on less, could actually make the poor economy a lifelong benefit for today’s students. Students who master managing their cash flow will not only receive their diploma for intellectual excellence, but will graduate with practical life experience and a financial acumen that will give them a great start in life.
There are many ways students can cut costs—some more drastic than others—but the bottom line is students do waste a lot of money. Those wasted dollars could certainly be put to better use.
Here are 10 Things College Students Waste Money on:
Textbooks – Buying new textbooks from the campus bookstore is expensive. Years ago the alternative was “off campus” bookstores, but now students can buy and sell textbooks online through retailers such as Barnes and Noble, or on websites such as Amazon.com and SlugBooks. SlugBooks even allows you to search for your school, class, and professor, and it compares prices from the bookstore, Amazon.com, and Half.com. They also have an option to rent books at a fraction of the cost to buy. For example, in the UCLA bookstore you can purchase a brand new copy of A First Course in Probability by Sheldon Ross for $137, or rent the same book for $47. Students who average 4 classes per semester and only have two books per class could save $5,760 over four years on textbooks.

Tuition – For the 2010-11 school year, the average cost of tuition and fees for a public college was just over $7,600, and for a private college was over $27,000. Parents are feeling the pain as tuition has risen on average about 5.6% a year since 2000, and with many state budgets in fiscal crisis, future increases could be even higher. Unless you get a full scholarship, paying tuition is unavoidable if you want to graduate from college. To minimize the cost of tuition, high school students can take advanced placement (AP) classes or take classes at the local community college and get some of the core classes out of the way. Students at 4-year colleges may want to take lower division classes at summer school or over a winter break at a local community college and transfer the units.
Students who enter college with 15 transferable units (at $300 per unit) from a community college or AP classes just saved themselves $4,500.
Automobiles – Sell your car or don’t bring it to school. Owning a car means a lot more than putting gas in the tank; there is the maintenance, insurance, and parking to consider. According to a calculator on Edmunds.com, the true cost to own a Ford Focus for a 5 year period is not just the $15,000 price to buy the car, but another $21,700 to operate it. (Click here for the calculator.) Insurance is still high for the 18 – 25 age group, even with a good student discount. Choose a college where you don’t need a vehicle, and if you want to come home to visit your family and friends, put a sign up for ridesharing. Those students with cars are starving and they need the gas money. Pitch in and make some new friends.
Students that bike, walk, or use local (usually subsidized) transportation can save about $20,000 during their four years of college.
Housing – You have to live somewhere but how you go about it can make a huge difference to your bottom line in college. Many college students want their own room after being crammed in a room in the dorm with someone they have never met before. They long for some privacy and peace and quiet but when it comes down to it, rent is one of the highest expenses in college. Investors love to buy rentals in college towns and sign the students up for annual leases so they have to pay all summer even if they are going home! Frugal college students who double up and share rooms all through college can save a small fortune. They do have to trade off the peace and quiet and privacy. No one said it would be easy.
You may be able to get a two bedroom apartment in Austin, TX, for $1,000. Share it with someone else and that’s $500 each, but share it with three others and that cuts the housing cost down to $250 per month saving $12,000 during the four years of college.
School supplies – These may seem minor, and of course you need school supplies, but if you can get them for free then it is certainly a waste to buy them. At the beginning of each new school year (and usually following a semester break) the bookstore and campus organizations often have “welcome” or “welcome back” events where they give away free or greatly reduced stuff. Students can stock up on free notebooks, pens and pencils, and sometimes (I have heard) free pizza to top off the incredibly great deal.
Welcome back events take 20 minutes of your time every semester but save you about $40 (including the pizza) which could save you $320 over four years.
Food – Innovative and socially active students may be able to get a free lunch by joining on-campus clubs and organizations. Clubs that meet during the lunch hour often have a full lunch available for the attendees. (Depending on how active you are, you might get a free lunch every single day of the week!) For the average student, going to an organization meeting once a week could save as much as $40 a month in food. You can also volunteer for alumni association events or become a student ambassador and attend evening events and mixers – the spread of food at these events is incredible and usually plentiful. Attend an event once a month to represent your school, network, and meet people in the community (who may become your next boss) and also eat for free.
Being a student ambassador (or something to the effect) and joining an organization with lunch meetings could save you about $2,500 over your college career.
Socializing – I know you were expecting me to say “beer” and I hate to disappoint so I’ll say “beer.” It is more than that! Socializing is not a waste of money, but excessive expenses associated with socializing can be. If you go Greek and join a fraternity or sorority, do you have to go to every single formal? Seriously? College students have plenty of opportunities to take advantage of on-campus subsidized activities such as athletic events which are often free with a student ID card. That way they can enjoy the campus experience without shelling out the big bucks.
Spend your Saturday at the college football or basketball game with free admission, or consider using the campus recreation or activities center for subsidized outdoor adventures such as skiing or rafting. This one is difficult to quantify so I won’t try, but you get the picture.
Applying for Credit – The average college student graduates with $4,100 in credit card debt. Resist the temptation to apply for credit, and instead use a debit card or simply a cash system instead of buying things you don’t need with money you don’t have.
Savings by not having a credit card and racking up debt at high interest rates: $4,100.
Article Source: http://www.forbes.com/sites/financialfinesse/2011/09/15/ten-things-college-students-waste-money-on/

30 Ways to Reduce College Costs

1. Most colleges and universities offer merit or non-need-based scholarships to academically talented students. Students should check with each school in which they're interested for the criteria for merit scholarships.

2. The National Merit Scholarship Program awards scholarships to students based upon academic merit. The awards can be applied to any college or university to meet educational expenses at that school.

3. Many states offer scholarship assistance to academically talented students. Students should obtain the eligibility criteria from their state's education office.

4. Some colleges and universities offer special grants or scholarships to students with particular talents. Music, journalism, and drama are a few categories for which these awards are made.

5. Some students choose to attend a community college for 1 or 2 years, and then transfer to a 4-year school. Tuition costs are substantially lower at community colleges than at 4-year institutions.

6. Some parents may be financially able to purchase a house while their child is in school. If other students rent rooms in the house, the income may offset monthly mortgage payments. Families should make certain, however, that the property they purchase meets all of the requirements of rental property. If you have any questions, consult a tax professional.

7. Commuting is another way for students to reduce college costs. A student living at home can save as much as $6,000 per year.

8. Many schools provide lists of housing opportunities that provide free room and board to students in exchange for a certain number of hours of work each week.

9. Cooperative education programs allow students to alternate between working full time and studying full time. This type of employment program is not based upon financial need, and students can earn as much as $7,000 per year.

10. Another way to reduce college costs is to take fewer credits. Students should find out their school's policy regarding the Advanced Placement Program (APP), the College-Level Examination Program (CLEP), and the Provenience Examination Program (PEP). Under these programs, a student takes an examination in a particular subject and, if the score is high enough, receives college credit.

11. Some colleges give credit for life experiences, thereby reducing the number of credits needed for graduation. Students should check with the college for further information. You can also write to Distance Education and Training Council at 1601 18th Street, NW, Washington, DC 20009, or call (202) 234-5100.

12. Most schools charge one price for a specific number of credits taken in a semester. If academically possible, students should take the maximum number of credits allowed. This strategy reduces the amount of time needed to graduate.

13. In many cases, summer college courses can be taken at a less expensive school and the credits transferred to the full-time school. Students should check with their academic advisor, however, to be certain that any course taken at another school is transferable.

14. Most schools have placement offices that help students find employment, and all schools have personnel offices that hire students to work on campus. These employment programs are not based upon financial need, and working is an excellent way to meet college expenses.

15. Most colleges and universities offer their employees a tuition reduction plan or tuition waiver program. Under this type of arrangement, the school employee and family members can attend classes at a reduced cost or no cost at all. This type of program is based not upon financial need, but rather on college employment.

16. Most colleges and universities sponsor resident advisor programs that offer financial assistance to students in the form of reduced tuition or reduced room and board costs in exchange for work in resident halls.

17. The Reserve Officers Training Corps (ROTC) Scholarship Program pays all tuition fees, and textbook costs, as well as providing a monthly living stipend. Students should be certain, however, that they want this type of program before signing up because there is a service commitment after graduation.

18. Service Academy Scholarships are offered each year to qualified students to attend the U.S. Military Academy, the U.S. Air Force Academy, the U.S. Naval Academy, the U.S. Merchant Marine Academy, or the U.S. Coast Guard Academy. The scholarships are competitive and are based upon a number of factors, including high school grades, SAT or ACT scores, leadership qualities, and athletic ability. Students receive their undergraduate education at one of the service academies. They pay no tuition or fees, but there is a service commitment after graduation.

19. One of the most obvious ways of reducing college costs is to attend a low-cost school, either public or private. There are many colleges and universities with affordable tuition and generous financial assistance. Students should investigate all schools that meet their academic and financial needs. 20. Some schools offer combined degree programs or 3-year programs that allow students to take all of the courses needed for graduation in 3 years, instead of 4, thereby eliminating 1 year's educational expenses.

21. Partial tuition remission for the children of alumni is a common practice. Parents and students should investigate their alma mater's tuition discount policy for graduates.

22. Some colleges and universities offer special discounts if more than one child from the same family is enrolled.

23. Some schools offer a tuition discount to student government leaders or to the editors of college newspapers or yearbooks.

24. Some colleges offer bargain tuition rates to older students.

25. Some colleges and universities convert non-federal school loans into non-federal grants if the student remains in school and graduates.

26. Some schools offer reduced tuition rates to families if the major wage earner is unemployed.

27. Some colleges and universities have special funds set aside for families who do not qualify for federal or state funding.

28. Some private colleges will match the tuition of out-of-state institutions for certain students. Check with your college to determine whether you qualify for this option.

29. Some companies offer tuition assistance to the children of employees. Parents and students should check with the personnel office for information.

30. Students should try to buy used textbooks.

Article Source: http://studentaid2.ed.gov/getmoney/pay_for_college/cost_35.html

Student’s Expense By: Gary Foreman
I have been desperately searching for information regarding budgets for college student spending. Our daughter needs some reigning in and I am trying to find some guidelines as to what is reasonable in this day and age.
-Becky
Becky faces a common problem. Most students entering college have limited financial education. And, moving out of the house for the first time can create problems.
The actual costs of college, like tuition and fees, are generally known. Usually it's the 'living expenses' and other incidental costs that throw budgets out of whack.
Becky's daughter's college probably has some 'cost of attendance' guidelines that are meant to provide an idea of how much students will spend while attending school. For instance, the University of Florida figures that a student living on campus will spend $5,800 on housing and meals and a total of $12,140 during fall and spring semesters. Rutgers estimates $1,700 for clothing, toiletries and spending money.
Becky and her daughter have already probably made some decisions that will affect her budget. For instance, the University of Arizona estimates that the difference between living at home and living on campus is $4,580.
Unfortunately, many school estimates are too low. Whether the schools purposely keep the costs low to look attractive or they just underestimate what students spend, Becky shouldn't use the estimate as final word on what her daughter should spend.
The cost of books is often underestimated. Some suggest that a student can expect to spend twice the estimate on textbooks. In figuring transportation costs, most schools assume two trips home per year. In practice, many students come home much more frequently. Fortunately, both of these categories are easy to track.
So what about everything else? There are a number of different things that could help. The first thing is to remember that what Becky teaches her daughter now will affect the rest of her life.
In the old days students didn't spend money that they didn't have. So the expenses of a college student were limited by how much money they had.
Clearly student loans and credit cards have changed the equation. The average student runs up nearly $19,000 in debt during college. By the time they're seniors nearly one third are carrying credit card balances of $3,000 or more.
Many graduates are finding their options limited by their debts. They're forced to delay new cars, expected weddings, new homes and starting a family. Grad schools and employers look at a graduate's credit score. So ignoring the debt isn't an option.
Ideally, Becky's daughter would get a credit card during college and use it wisely. By the time she graduated she would have created a good credit history.
Becky should monitor her daughter's use of credit. Depending on their relationship, Becky might want to have a duplicate copy of the monthly statement sent directly to her.
If her daughter overuses a credit card, Becky might want to consider a prepaid credit card. That limits spending to what Becky prepays.
And, don't forget, if a student is 18, a parent's permission isn't required to get a credit card. So they could have a card that you don't even know about.
Becky's tone suggests that her daughter would rather continue her current spending patterns. That's understandable, but whatever patterns she sets up now will probably last a lifetime.
Usually the problem areas are food and entertainment. But Becky won't find a black and white answer as to how much her daughter should spend. Just as each family needs to create their own budget, each student's needs are different.
It's easy to see why food is a problem. Compared to cooking for one or visiting the student cafeteria, going out to a nearby restaurant or calling in for pizza will always look better to a student. But that can add $5 to the cost of every meal. Becky's daughter can quickly blow an extra $100. To avoid problems they'll need to decide how many 'premium' meals our student can afford.
Becky's daughter will also have plenty of opportunities to spend money on entertainment. There's always someone who wants to take a break and go to a movie or find some other fun. And even your cheapo university theatre can swallow a $10 bill if popcorn is involved!
Chances are that Becky and her daughter have already handled major items like living on or off campus and how often the daughter should come home. Ideally they'll agree on how much should be allocated for things like food, entertainment and clothing. Then our favorite student can use her budget to keep control of expenses. And, in the process, develop habits that will serve her well for years
Article Source: http://www.familyresource.com/finance/home-budget/student-expenses

Expenses For College Students
By Ruby Houston
Going to college is expensive; there are no two ways around that. If you are prepared to make the commitment to further education then you must be aware of what it is going to cost you in the long term.When people think of expenses for college students the first thing that pops up is tuition fees. But there are many more costs on top of these basic fees and they can actually outweigh the fees themselves in the long run.Let's look at the main things that a new college student has to pay for:
1. Tuition Fees
These fees will cost anywhere from $6000 to $25,000 for a four year course. Private colleges will cost more than public.
2. Living Costs
You have to consider that you may not be earning much money whilst you are studying, so your living costs need to be closely scrutinized.
How much rent will you be paying? How much will you spend on food, bills and travel costs each week? The average student will spend almost $1000 per month on living costs alone.
3. Study Materials
Textbooks, stationary, bags and IT equipment will cost you at least $2000 per year.
4. Make a Budget
Once you know what your average monthly spend will be, budget your funds accordingly. Always have room for some left over money for savings or entertainment.
College is an Investment
It may seem like a lot of money to spend, but college should be thought of as an investment. You are investing in your education and once you are finished with your degree you are going to earn much more money over the next 30-50 years of your working life.
Of course there are also ways to pay for college without using your own money or getting a student loan. Grants and scholarships can assist you in covering a lot of the costs.

Article Source: http://ezinearticles.com/?Expenses-For-College-Students&id=2535139
College Expenses Besides Tuition

Textbooks, lab fees, Greek dues and college expense can add thousands to the tab
By Jackie Burrell, About.com Guide

Tuition, room and board are certainly the major college expenses, but textbooks, lab fees, practice room charges, Greek dues and cell phones can add another $2,000 or more to your child's tab, if you're not careful. And that's before the pizza bill arrives. Expecting the unexpected is half the battle. * Textbooks: Books and school supplies can easily add $940 to the college tab, and that doesn't include the practically mandatory laptop. Science majors can expect to spend even more. Their books routinely edge into the three figure range. But there are ways to shave considerable costs off the book bill.

* Laptops and Computers: The laptop may be unavoidable - although most colleges libraries have computers available for student use. But there's no reason to buy a printer. These days, many professors want essays turned in electronically, typically through plagiarism-detection sites such as Turnitin.com, and the few papers that require hard copies can be printed at the library for a nominal charge. Instead of spending $200 on a printer, spend $10 on a thumb drive, so data can be easily transported between computers. (Thumb drives, by the way, make nice stocking stuffers and care package gifts too.)

* Lab Fees and White Coats: Whether it's art class or biochem, lab fees can add another $10 to $50 per course. If it's a chemistry lab, your child will also need a white lab coat ($25-$30) from the campus bookstore. On the other hand, think of the money you'll save when she trashes the coat - not the Juicy jeans - with sulfuric acid.

* Music Rooms and Tuning Fees: If your child takes music courses, the college will likely charge a fee to cover practice room rental and piano tuning. At UCLA, for example, it costs $50 per quarter for first-come, first-served, practice room access. Add another $30-$90 if your child wants to be able to reserve a specific time slot. Need to rent a locker? That's another $50. And junior will need not just a tuxedo ($350), but tails. Tip: Check the vintage clothing stores in your area for used formal wear, or see if your child's college music department has a deal arranged with a local formal wear shop.

* Greek Dues and Social Fees: Joining a sorority or fraternity? Plan on spending $400-$800 or more per year in social dues. On the plus side, if junior moves into a Greek house, room and board costs can be lower than dormitory life. Not going Greek? Dorm social fees and college "activity fees" can tack another $200-$400 onto the base cost.

* Cell Phones: Expect your child's texting and calling frequency to go through the roof when he leaves for college. It's not necessarily that he'll be calling home more often - although one can always hope - but he'll be calling siblings, high school friends and new college buddies. Contain costs by reviewing your cell phone plan - beware of roaming charges - and re-evaluating the number of minutes and texts your child is allowed. Sometimes it's cheaper to go with a more expensive, unlimited texting plan, than to incur overages.

* Pizza & More: It's difficult for a kid to stay on budget when he's suddenly faced with a new and insanely exciting, campus social life. It's even more challenging when mom and dad forgot to have the budget discussion. Talk now. And if you've already had the talk and it's still not working, talk again. One reader on the YoungAdult forum said she put a large lump sum, intended to last the entire year, in her daughter's savings account and it was gone by February. Now that her younger son's in college, the family is taking a different approach: small amounts, monitored closely. Got other ideas? Click over to the "spending money" thread on the discussion forum and share.

Article Source: http://youngadults.about.com/od/finances/a/extraexpense.htm

College Students and Money
Learning the Ropes at a Young Age Will Pay Dividends
From Jeremy Vohwinkle, former About.com Guide
College living is an exciting and challenging undertaking for most students. Moving away from mom and dad, living on your own and making decisions for yourself and having to manage your own finances are just a few of the roadblocks you will be facing. Having a plan in place beforehand and sticking to that plan as closely as possible can help to ensure that you survive the transition with the least stress possible.
Expenses and Budgeting
One of the first and most important steps for successfully managing money as a college student is to truly understand your expenses. It is likely that you have never had to budget your own money if you’ve lived with your parents your whole life, so it can come as quite a shock the first time you’re faced with that harsh reality. Create a budgetby making a list of your fixed expenses, such as rent, tuition, books, car payments, utilities and food. Next, make a list of your discretionary expenses such as clothing and entertainment. Until you know what your monthly expenditures are, you will not be able to make a realistic budget to work with.
Learn to live within your means. Expensive electronics, going out with your friends and eating out multiple times a week are likely going to become a thing of the past. Make sure that you are meeting your financial obligations before you start to spend on frivolous items that aren’t necessary for your survival. Remember, college is probably going to be a time of your life when you make very little money, so you had better be prepared to make some sacrifices. Try to avoid accumulating debt whenever possible, as it can quickly become overwhelming and will likely follow you for years beyond college. Keep a single credit card on hand for emergencies, but do not use it for anything that isn’t absolutely necessary.
Preparing for the Future
Save whenever you can and as much as you can. Even if it is a small amount, putting a little bit away with each paycheck will begin to accumulate over time and provide you with a much needed cushion if you’re put in a position where you need it. The earlier in your life you begin to save, the better off you will be, both in terms of having money saved for the big expenses in life to retirement. Don’t fall into the trap of thinking you can just wait until you graduate and get your dream job before taking your finances seriously. Life doesn’t always work out as planned and time is your greatest asset when it comes to saving money. Even if it doesn’t seem like the twenty bucks a week you’re saving in college is a lot, you will thank yourself after graduation.
Managing real life expenses and trying to save for your long-term financial goals are difficult tasks for most people, not just college students. Establishing yourself as a responsible adult at a young age will help to lay the foundation for a secure financial future.
Article Source: http://financialplan.about.com/od/students/a/College-Students-And-Money.htm

College Living Expenses
If you’re making a mental list of college living expenses, your head is likely full of numbers: tuition, fees, financial aid, etc. But the figures printed on official university letterhead aren’t the only ones to take into account when planning for that first semester of school. A number of college living "start-up costs" are also likely to pop up and throw off your careful calculations of how to pay for school. School supplies and dorm accessories (like that extra-long twin bedding) are probably the first that come to mind, but there are costs, as well as saving strategies, to be aware of when going off the college.
Independent Living
Even if you have a meal plan, you should still budget for some snacks, venti frappuccinos, and middle-of-the-night pizzas. Even the most frugal student will occasionally be tempted to splurge on food or caffeine to keep going at school. Add in toiletries (and teenagers tend to gravitate towards the most costly products imaginable), clothing (ditto), and other recurring expenses, and you have a sizeable financial commitment on top of the college tuition statement.
Limiting these purchases to a student’s part-time job is a wise way to curb spending. There are some ways in which colleges can actually save on recurring expenses: Many colleges have free movies and cable for students, and if the combination of late night snacking and free-flowing cafeteria soft serve add up, most campuses have gyms and wellness centers that are free for students to use.
Technology
Most, if not all, of your instructors will assume that everyone has 24-hour access to a home computer, a data storage device of some kind and a printer. They’ll probably expect the student to also have word processing software, as well as software for editing images and preparing presentations. Students will also need Internet access, which someone has to pay for if the student lives off campus. If you don’t have a laptop with these features, that’s likely a college shopping must.
Some colleges and programs give out free (or "free," as there might be a corresponding mandatory fee) computers to new students, such as Valley City State University in North Dakota. If you don’t gravitate towards one of these programs, you may want to budget for anywhere from $300 to $400 for a low-end machine with bare-bones features, to a couple thousand dollars for a high-performance machine. Luckily, college financial aid and college savings plans both allow students to use those funds towards purchasing a computer for college, provided funding is available.
Travel
Other new expenses might include gas money, bus fare, train tickets, or flights home at holidays or on random weekends throughout the year. There are a variety of discount travel options targeted at students, however, including bus services, airfare sites, and campus rideshare programs. Unfortunately, there are also spring break travel specials and frequent out-of-town school-sponsored (or not) trips that you may have to contend with on top of these deals.
If you have a car on campus, there will also be gas, regular maintenance, and on-campus parking, which can cost anywhere from tens to hundreds of dollars a year at many schools. Many campuses and surrounding areas are very walking-friendly, and the majority of colleges will offer free shuttles and other services to students both on and off campus, so a vehicle may not be necessary.
Article Source: http://www.scholarships.com/resources/campus-life/college-costs/college-living-expenses/

The Average Yearly College Expenses
By Josh Fredman, eHow Contributor
As of 2010, college undergraduate costs averaged between $15,000 and $40,000 annually.
In the United States, college costs a lot of money. Unlike in many other developed countries, students have to pay these costs up front, or else win a scholarship, get a loan, or have their parents pay for them. Nevertheless, the economic value of a college degree is enormous, and a college degree is a prerequisite to many jobs --- particularly jobs that pay well. With al l this in mind, if you or a family member are considering attending college, it's important to know how much money it would cost.

Factors Affecting College Expenses * College expenses vary considerably depending on the college's status as public or private, the student's residency status, and the student's academic track. Public colleges are subsidized by the government and pass those savings along to their students; thus, they cost much less than private colleges. However, the degree of savings depends on whether the student is a resident of the state. Resident students get a much better bargain than those who attend from out of state. Lastly, on average a two-year degree track is less expensive annually than a four-year baccalaureate degree track.

By the Numbers * According to data from the College Board, the average annual cost of a four-year degree track at a private college is roughly $40,000. For four-year students attending a public college, the average annual costs are $30,000 for out-of-state students and $20,000 for in-state students. Students on a two-year degree track pay on average $15,000 a year. These figures include all costs, such as tuition and fees, room and board, books and supplies, and transportation and insurance.

Breaking Down the Data * The New York Times analyzed the figures from the College Board, and was able to break down a student's average expenses by category. In the 2009-2010 academic year, average room and board costs were about $8,000. Books and supplies ran at about $1,100. Transportation costs averaged roughly $1,200. Miscellaneous expenses were about $1,900.
Tuition and other core fees varied according to the type of college and degree-track. Private four-year students paid an average of roughly $26,000. For four-year students at public colleges, costs ran about $19,000 for out-of-state students and $7,000 for in-state ones. Two-year students paid an average of $2,500.

Costs Are Rising * The New York Times noted in its article that college costs are rising much faster than inflation, meaning that college is becoming less of a bargain than it used to be, and is becoming unaffordable to more potential students. The trend has accelerated since the year 2000, with tuition effectively doubling at many public colleges between 2000 and 2010, and at private colleges rising even more steeply in absolute dollar terms. The issue has found its way into the political debate, and many states as well as the federal government are debating what to do about the rising financial barrier to entry.

Article Source: The Average Yearly College Expenses | eHow.com http://www.ehow.com/info_8157839_average-yearly-college-expenses.html#ixzz20PJhRAFq

Reasonable and Necessary Living Expenses as a College Student written by: Jean Scheid • edited by: Amanda Grove • updated: 5/24/2010
Many parents wonder what are college student reasonable and necessary living expenses and how can you keep expenses to a level you can afford? Beyond books, tuition, room and board, what else must be included? Jean Scheid takes a look at college living expenses. * Why Determine College Expenses?

No matter what we do in life as far as spending money, if dollars and cents are monitored, they seem to dissolve quickly. No parent wants to repeatedly receive calls from a child saying they’re out of money and it’s only mid-month.
Determining college student reasonable and necessary living expenses upfront will help you avoid money shortages. To help you achieve this, download and print the College Expense Budget found in our Media Gallery. This Microsoft Excel spreadsheet can be used to track and budget expenses by month or semester. Modify the expense budget by inserting rows for expenses not listed to help you further in keeping track of where all the money goes. * Expenses to Expect
According to Elite Student Loans, the average living expenses per month for a student are $250. This number represents expenses outside of normal college expenses (books, tuition, room and board) but does include items like travel, entertainment, food, auto expenses, insurance, utilities, telephone and mobile phone expenses, and miscellaneous expenses.
Keep in mind that when determining reasonable and necessary living expenses, the monthly average will be higher if your child has a car payment or their own health or car insurance policies.
The best way to achieve a good budget for necessary living expenses is to utilize the sample college expense budget and list all income sources first. Then make your best guesstimate on living expenses and when the first month at college is complete, compare your guesstimates to actual dollars (the spreadsheet can do this for you). * Tips On Cutting Down Expenses

There are ways to cut down on necessary college living expenses. Here are a few ideas that may help: * Hobbies – Determine your child’s hobbies. What hobbies do they spend the most money on and will all of your child’s hobbies continue while at college? For example, if your child is constantly running to the local bookstore to get that new bestseller, consider utilizing a different source to read that book through bookstore exchanges or trades and even used books from eBay or Amazon.

* Medicines – Make a list of medications prescribed or needed such as aspirin or ibuprofen. If you buy brand name over-the-counter meds, try making a generic first aid kit for less money. If your child is on prescription drugs, consider enrolling in a cost-savings prescription plan; most drug chain stores offer these.

* Laundry – Most children aren’t used to saving quarters for onsite college laundry machines and buying detergents and fabric softeners; they use whatever is in the laundry room at home. Consider a clothing budget ahead of time to ensure you child has enough clothes to cut down on laundry expenses. Buy generic detergents or if your child lives close enough to home, have them do laundry on the weekends.

* Events – Whether it’s a school play, eating out with college friends, going to the movies or attending a concert, you need to include these when determining college student reasonable and necessary living expenses. Have your child make a budget on these types of events and guide them to stick within the budget guidelines.

* Credit Cards – Students can get into money trouble fast if they are unable to control student credit card spending. Make sure credit card limits are low and monthly balances are paid in full to avoid high interest rates.

* Discounts – Tell your child to take advantage of any college student discounts such as those found at some restaurants. Only invest in a college meal plan that is realistic to your child’s diet.

* Fees – Explain to your child that library and parking fines can add up quickly, so return books on time and tell them to park where they are allowed to park to avoid fees and fines.

* Telephone – These days, mobile phones are the communication source of choice. Revisit your child’s mobile phone plan to ensure they can text, call, and even email from their cell phone.

Sticking to college student reasonable and necessary living expenses may be tough the first month or two, so be prepared for under budgeting. Once you get a handle on what is actually needed, revise your budget to adjust expenses based on income sources available to find out what is not reasonable or necessary and help your child cut back on those expenses.

Article Source: http://www.brighthub.com/education/college/articles/72063.aspx

What Are the Average College Expenses?
By Ruby Houston
Everybody knows that going to college costs a lot of money. But what are the true average college expenses and how much can you expect to spend over the entire period of your college study?
It will differ depending on what you are studying, where and for how long. Private colleges will generally have higher tuition fees, and science and engineering courses generally cost more than business courses for example.
Let's look at the major college expenses:
- Tuition costs
- Fees
- Books
- Stationary supplies
- Subject specific equipment
These are items related directly to your studies. But what about outside college? You must consider these costs as well:
- Housing
- Food
- Transportation
- Clothing
- Medical costs
- Insurance
The average student will spend several thousand dollars per month covering all the above costs. For the normal person however, it is almost impossible t make these payments and that is why so many resort to costly student loans. But there is another way that does not involve debt or repayments.

Making College Easy With Scholarships
Of course, paying for college with your own money may be impossible and getting a student loan is depressing and often not something that someone wishes to do. So how else can you fund your studies? With a scholarship, of course.
A scholarship is "free" money that is virtually given to you for you to do as you wish. Most have requirements on what you can spend it on, but many just state that it needs to be spent on educational expenses.
This covers all of the above mentioned expenses so a scholarship will certainly make your college life easier - best of all there is no requirement to repay that money.
Forget paying for college expenses yourself!
Article Source: http://ezinearticles.com/?What-Are-the-Average-College-Expenses?&id=2517102
A Look at the Spending Habits of College Students

While some students struggle to make ends meet, the stereotypical college experience of eating Ramen Noodles, wearing clothes from Goodwill, and drinking cheap beer is quickly disappearing. Much of this can be explained by the changing demographics of today’s students. Less than half (43%) of college students are 18-21. The typical college student is in their mid-twenties, either lives at home or on campus, and has a job. Students no longer expect to complete college in 4 consecutive years, and many fluctuate between full-time and part-time study over a period of 5 to 7 years. The older the student, the more money he or she generally has.

The typical college student gets an average of $757 a month from jobs, parents or other sources. Most money comes from work. 75% of students maintain jobs while attending school, earning $645 per month on average. 20% have secured an on-campus job and 42% are spending school breaks working. Parents contribute too, contributing an average of $154 to a student’s monthly income. A student spends more than $13,000 per year on average, 19% of which is discretionary. That adds up to a substantial $211 per month of discretionary spending.
Credit cards are monetary sources for some students. Most students – 70% of males and 75% of females – have between 1-3 credit cards. While establishing credit in college can be to your advantage, using credit cards for basic living expenses can create financial problems. Use credit cards sparingly.

Overall, data reveals college students to be savvy, capable and influential consumers, balancing the rising cost of tuition with a hardy work ethic, spending a fair portion of their considerable discretionary income on high-end technology, and holding considerable sway over the purchasing decisions of their peers.

College students spend most of their discretionary income on food. Students spend more than $11 billion a year on snacks and beverages. Even students who live in the dorms and have meal plans spend a lot of money eating out. You can spend hundreds of dollars on coffee each semester. Utilizing your meal plan and cooking your own meals can save a great deal of money.

A large expense for many college students is electronics, gadgets, and technology. Students rely on technology to access information, communicate with friends, and keep themselves entertained. These expenses are seen as necessities. The majority of college students (90%) own a computer, and two-thirds (65%) of those students have a broadband connection. 62% of college students own a stereo, a cell phone (77%), a printer (77%), and a television (84%). A large portion of income goes to cell phone service, which 85 percent of students have. The majority of students with cell phone service pay for extras such as text messaging (62%) and internet access through their mobile phone (41%).

Entertainment is another large expense for college students. They spend nearly $3 billion annually on movies, DVDs, music, and video games. They spend $474 million on music sales, $658 million on theater tickets, and $341 million on games each year. At home and in the dorms, they’re watching movies, spending $600 million to buy and $326 million to rent DVDs. If you think a big entertainment expense for college students is going out to bars and partying with friends, you’re right. It is estimated that the average student spends at least $50 per month on beer alone. Each year, American college students spend $5.5 billion on alcohol. While smoking is not a form of entertainment to most, it is a costly habit. A pack-a-day habit can cost you several hundred dollars a semester.

Personal care is another big expense for college students, with $4 billion spent each year for personal care products alone. Students also spend a lot of money clothing themselves. Nationally, students spend more than $5 billion a year on clothes and shoes.

By the time they reach college, full-time students represent over sixty billion dollars in buying power. This amount usually increases once the student graduates and becomes employed. Marketers who can successfully reach these young adults with a quality product, positive message, and clear value, may enjoy decades of loyal purchasing and millions of dollars worth of free, word-of-mouth marketing. Hooking someone while still in college is one way to do this.

Article Source: http://www.stateuniversity.com/blog/permalink/The-Spending-Habits-of-College-Students.html