College Expenses Checklist
The Must Have Essentials

Educational Expenses

Tuition: Tuition will probably be the single largest expense, ranging from a few thousand dollars per year for an in-state college to $35,000 for private colleges. Most schools require students to pay at least a portion of the tuition before school starts. You should also budget for a yearly increase in tuition.

Books: The cost will vary depending on the course. The big, heavy, hardcover science and math books tend to be the most expensive – as much as $200 each. A good estimate for your book budget is about $500 per semester.

Computer: Students need an up-to-date computer and printer, and some courses require specific software. Computer labs are also available for students, but hours and space are limited.

Program Fees: Many programs levy extra fees for labs and equipment. Have your son or daughter check with the school.

Supplies: Your college-age kid will need a constant supply of pens and paper, as well as other items such as a backpack, organizer, binders and highlighters.

College Living Expenses

Housing: This is the student’s other big expense and will vary depending on location. Most colleges have student residences or off-campus housing with a range of prices to suit most budgets. If your son or daughter lives off-campus, there will be monthly utilities bills. The least expensive option is, of course, for your child to live at home and commute.

Food: Almost all colleges have a prepaid meal card that students use like a debit card for all their food on campus. But you will still need to budget money for when your son or daughter goes off campus or runs out of meal-card dollars. If he or she has special dietary needs, make sure the meal plan
covers them.

Laundry: Most residences have coin laundries and your son or daughter will have to buy soap. It’s less expensive at the grocery store than from dispensers
in the laundry room.

Phone: If the school your child is attending is far from home, he or she may be making a lot of long-distance calls. Don’t forget to factor in his or
her cell phone, as well.

Internet: Students may pay a monthly fee for dial-up service or pay the school a yearly fee for access to its wireless network.

Medical/Dental Expenses: Increasingly, insurance that covers these costs is included in tuition. You can opt out of these plans if your child is already covered by your insurance plan.

Other expenses

Entertainment: How often does your son or daughter go to the movies? Does he or she like eating out? Estimate accordingly.

Parking/Transportation: This is another expense that is continually on the rise. If your son or daughter owns a car, you’ll have to budget for insurance, gas and parking.Taking public transit is often less expensive, as many public systems offer student discounts.

Clothing: Take into account climate, seasons and the fashion culture of the school your son or daughter is attending.

Editorial is provided by the LendingTree.com Smart Borrower Center.