Additional and Hidden College Costs

OTHER COSTS: -FEES whether academic(paid by all students) or specific to certain courses(eg Lab Fees) or certain privledges(eg I-T fees) -TRAVEL The U.S. Dept of Education actually asks BOTH families and Institutions to budget in travel costs AS PART of Defined Cost of Attendence. -PERSONAL legendary "Pizza & Beer" Money but can include clothing, Laptop, toileteries, other necessities, snacks -INSURANCE (HEALTH) Colleges offer Health insurance for a cost--or a waiver form you will need to sign & and in many cases if you waive, then PROOF oF INSURANCE covering that student -INSURANCE(TUITION RISK) Something I point out to my families is that most institutions offer an insurance policy that covers a student should he/she drop out for any number of reasons. Parents should at least review this offer and certainly for their first year student who is traveling to school OUT OF STATE as kids that drop out of school their first year are NOT always listing academic difficulty as the primary reason.

Transportation to and from college and social activity while at college can both be significant and need to be part of any college budgeting.

Yes, of course. First however you must understand that the COA or cost of attendance published by each college will include all of their charges. You might see a parking fee, or a health services fee, or a laundry fee, but those should all be part of your COA. The costs that most forget are carpeting for your dorm room. Or a television, toaster, pictures, basically any decorations for your dorm room. They don't tell you that you need walking around money just to get a coke. Especially during the first months of college everyone will be going out to eat, to clubs, movies etc. and it is actually important to be able to go so that you can meet people. I always encourage students to work over the summer so that they can cover these costs because most parents are struggling to come up with money for the COA and never thing about these other costs.

Every school has a host of fees, some hidden, some not. Also, many schools bill for health insurance assuming the student has none. If they're covered under their own plan or by their parents, a simple waiver card will substantially reduce this obscene charge.