When looking at the costs of your potential college, do not just factor in what they say room and board and tuition will be, as in the end, the costs of college will amount to more than this. Students that expect to be financiall needy (and are looking for forms of assistance such as scholarships, student loans, student loan consolidation, etc.) need to realize that the costs go beyond this. Costs such as personal expenses are not covered by financial aid packages.
If you plan to go to college near home, the projected costs of college may be accurate; however, it is much less likely to be if you are going to college upwards of a couple hundred miles away. Then there will be other costs (such as travel) that your financial aid package will not cover and you will be responsible for.
If you plan on going to college that for away, not only do you now have to consider the costs of tuition, room/board, and books, but also the costs of travel. Costs such as that for books can often be quite steep, and scholarships usually go to pay for college tuition, not books.
If you plan to drive by car, over each year you will spend hundreds of dollars on gas, a couple thousand on insurance, and at least a few hundred for a parking permit on campus.
If you plan to get to your college by plane, you will easily spend $500 to $1000 per year on plane tickets back and forth from your school to home. Plus you will have to ship some of your stuff (such as bedding and supplies) from home, which will also nickel and dime up over the years.
So when estimating the costs of attending your college, be sure to factor in an extra few thousand dollars for travel expenses and miscallaneous expenses that will undoubtedly occur every so often. When it comes to finding money for college students, realize that you will need more money to cover your expenses beyond what the scholarships and student loans cover.
May 13, 2009
