Once you factor in housing application fees, housing deposits, dormitory charges, meal plan charges, taxes and other miscellaneous fees your student may incur (renter’s insurance, key replacement fees, lockout fees, damage fees, etc.), living on campus can prove to be rather pricey. There are ways, however, that you and your student can save on these costs.
- Consider shared housing. Students living in double, triple, or even quadruple (four students to a room) housing options generally have much less expense to bear than students living in single rooms.
- Look for co-operative housing. This kind of housing may or may not be actually on campus. It is typically privately owned housing and students live in a group-home type atmosphere (shared living areas, shared kitchen). The benefit of co-op housing is that students share all expenses.
- Look for housing alternatives near campus. Many apartment complexes actually offer special rates and pro-rated contracts to students attending nearby colleges and universities. Even after you factor in food and other expenses, these housing options may be slightly less expensive than or on-par with on-campus housing. If the student can find a roommate or two, he/she can reduce costs even further.
- Consider living at home. If the student has family in the same general location and needs to find a way to reduce his/her college costs, eliminating the on-campus housing and board fees altogether may be the best option.
Until next time!
Lynn Byrne
Preparing for college admissions? Trying to find direction? Need a little help with the planning? Check out my college planning series:
- College Planning Made Easy--the planning and preparation workbook for the take charge, college-bound student,
- Paying for College Made Easy--a college financing guide designed to assist students and families in preparing and planning for higher education expenses; and
- The Great Scholarship Search--my guide for students and parents researching and applying for scholarship funding.
