Archive for June 4th, 2013

June 4, 2013

Don’t be surprised by these college expenses

by Grace

Uexpected expenses can add thousands of dollars to the annual cost of college.

1. Textbooks can total $1,000 or more per semester.  Used books, rentals, and Kindle versions are some options that may cut costs.

2. Parent expenses include the cost of traveling to drop off children and to attend orientations.  Especially in some big cities, budget hotel rooms are hard to find.  These should be part of the financial considerations when making the final college selection.

3. Meal plans may waste money.  In some cases students do not eat enough meals in the dining room so “points” are left over at the end of the semester.  Or sometimes a student finds himself paying extra for meals instead of taking full advantage of the prepaid dining plan.  Picky eaters or students with food allergies may end up avoiding dorm meals.  In either case, better planning and discipline could save hundreds of dollars a year.

4. Student loan interest rates should be factored into the costs of financing.  Paying interest over ten or more years can add 50% or more to the total repayment cost, reinforcing the importance of avoiding too much student loan debt.

Read more details at US News.

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