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What things for college really drain your wallet?

Hey! I'm starting to prep for college next year and budgeting for possible expenses... can anyone share their experiences with what the most expensive necessary items are for college? Thanks in advance.

a year ago

Hi there! Here are some regular expenses that you might encounter in college:

1. Tuition: This is typically the largest expense associated with attending college. Tuition differs drastically depending on whether you're attending an in-state public school, an out-of-state public school, or a private college or university.

2. Housing and Meals: Depending on where you live, housing can be a substantial expense. Some colleges have mandatory on-campus living and meal plan requirements for first-year students. Meal plans can also be expensive, so eating off-campus or cooking your own meals can often be a more cost-effective option.

3. Books and Supplies: This includes cost of textbooks and necessary supplies for your course. While these can be expensive, buying used textbooks or digital versions when possible, or even renting textbooks for a semester, can help lower this cost.

4. Transportation: Whether this is a car, public transit, or a bike. Also take into account any additional costs such as gas, maintenance for a car, or bicycle repairs.

5. Personal Expenses: These could be anything from late-night pizza deliveries to replacing clothes or toiletries, or even outings with friends.

6. Health Insurance and Care: Some colleges will require you to have health insurance. If you're not covered under your family's insurance, you may need to purchase a student health insurance plan.

In addition to these costs, some people forget about one-time purchases that are usually made at the beginning of college. These might include things like dorm room essentials (bedding, towels, etc.), a laptop, or a mini-fridge.

It is also important to set aside an emergency fund for unexpected expenses, especially medical emergencies or travel home in case of an emergency.

Hope this helps frame your budget planning!

a year ago

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