Understanding College Costs
Families frequently refer to the cost of college as one of the biggest obstacles to going to college. One reason they may feel this way is that they do not understand what is included in the cost and what they may actually have to pay. The cost of college can be broken down into the following five categories.
Tuition & Fees
What the college actually charges to attend and enroll in classes. Public universities, like The University of Arizona, typically charge different amounts based on whether you are an in-state or out-of-state student. Private universities, like Stanford, usually charge all students the same amount.
Room & Board
Housing and food. This can vary greatly depending on whether or not you decide to live at home, on campus, or rent your own apartment.
Books & Supplies
Unlike high school, in college students must buy their own textbooks. The college will give you an estimate, but there are things you can do to reduce that amount.
Travel
Whether you live on campus or not you will need to travel around town for a variety of reasons like grocery shopping, meeting friends, volunteering, for a job or even for class projects.
Miscellaneous
Everyone has miscellaneous expenses in their budget. For some, it is money spent on going to the movies, going out to eat meals, buying clothes, or any number of other things.