Extra College Expenses

How much money will my college-bound child need to spend beyond tuition and room and board? -- No Bank
Answer: This is a good question, because so many parents and students forget that there can be significant expenses beyond the basics. First of all, there is the large outlay for books. Then there are all the fees to think about for health insurance and student government. More money may be needed for tickets for sporting events and other activities. Plus, you have to add in expenses for transportation, laundry and school supplies. And you need to factor in such optional expenses as pizza, school paraphernalia and movies.
There are also expenses for students even before they arrive on campus. They may need to buy a computer, a bike, bed linens and towels. And they may elect to purchase a small microwave and refrigerator, depending on what their residences offer. You also can't forget that most students will want to spend some money on new clothing.
Most schools will have lists of possible expenses that students may need or want to make. As soon as students are admitted to a college, they should obtain such a list or find one online. The next step is to make a budget and decide which expenses the family can afford.