Updated on April 3rd, 2023
When your student starts exploring colleges, checking out the cost of signing up for classes, getting a dorm room, and picking up a meal plan is typically part of their process. The issue is, this only scrapes there are a surprising number of hidden college expenses. Ultimately, those initial figured might only scratch the surface of what they need to cover.
Did you know that some scholarship awards can be used for any kind of expense, not just tuition, fees, room, and board? If your student is looking for scholarship opportunities that could help them navigate any college cost, there are plenty of options available. To learn about finding scholarships, sign up for our free college scholarship webinar! Take a quick trip over to http://thescholarshipsystem.com/freewebinar to reserve a spot today.
Since the actual cost of college isn’t always openly outlined on a school’s website, knowing what hidden college expenses your student may encounter helps. It lets them financially prepare for what lies ahead, ensuring they don’t fall short by mistake.
If your student wants to make sure that they’re ready for all of the college student expenses they might encounter, here’s what they need to know.
What Are Hidden College Expenses, and Why Do They Matter?
Hidden college fees and expenses aren’t technically hidden, per se. Usually, information about them is available, to some degree, though it can take a little bit of digging to find the details.
Where the problem comes in is that specific college fees and costs are commonly overlooked. While tuition, room, and board costs are usually presented clearly and typically sought out by students, not all expenses are displayed on school website landing pages or in informational brochures and documentation. Additionally, outlining specific costs that way might not be practical, as some expenses vary greatly between students.
As a result, costs commonly referred to as hidden college expenses catch students off guard when they’re estimating how much they’ll need to spend while furthering their education. When that happens, students may discover at an inopportune time that they don’t have enough money to cover everything, leaving them in a bind.
That’s why learning about hidden college fees and costs is critical. It allows your student to factor them into the equation, ensuring they’ll have enough money to handle the actual cost of college.
8 Hidden College Expenses
Before digging into the various hidden college student expenses, it’s essential to understand that not all students will have to handle every cost. Some only apply to students in specific situations, so your student may or may not have to cover them.
However, by knowing what all of the expenses for college students are, it ensures your student is fully aware of what they might need to pay. That assists with college planning, reducing the chances that they’ll overlook a cost by mistake.
Here is a hidden college expenses list outlining eight costs that many students overlook.
1. Course Materials and Supplies
While most students know that they’ll need to purchase (or rent) books for their classes, those might not be the only course materials and supplies they’ll have to buy. Students may also need workbooks that are created by the professor. A specific calculator or tool might be mandatory. Plus, there are always pencils, pens, highlighters, notebooks, scantrons, and other basic supplies.
Ultimately, course materials (including books) and supplies cost students between $1,240 and $1,460 a year, depending on whether they’re attending a four-year or two-year institution. However, those are just average college expenses in that category, as many students end up paying more.
2. Parking and Transportation
While students can usually get around for free while they’re on campus, most students will encounter some kind of transportation-related expense. If your student has a car, they’ll need to cover fuel, maintenance, and other operational costs. Plus, most colleges charge for parking, either annually or on a per-semester basis.
Even if your student doesn’t bring a vehicle, there can still be transportation costs. If they need to pay for public transit or a rideshare to head off-campus, that comes with a price tag, too.
Usually, students can learn about parking costs directly from the school and learn about average gas prices online. Additionally, they can look up public transit fares by going to the service’s website.
3. Greek Life
If your student is thinking about joining a fraternity or sorority, it’s important to recognize that Greek Life in college comes with some extra costs. Dues are usually the biggest example, as those apply to any student regardless of where they live. However, members may also be expected to help throw parties, support charitable causes, purchase attire for specific gatherings, and more.
If your student moves into a fraternity or sorority house, then they’ll need to handle that expense, too. Whether that costs more or less than a dorm room can vary, so students should research the cost in advance to determine if moving into a house is viable.
4. Above Average Course Loads
Colleges are typically upfront about their tuition costs. However, if students don’t read the fine print, they may underestimate what they’ll need to cover each semester if they have an above-average course load.
Most per-semester or annual estimates on college websites are based on a 12-hour semester, which is considered a full-time student. However, students usually have the option to sign up for more hours. If your student takes on more than 12 hours, their per-semester or annual cost will be higher than the estimate.
While students who want to graduate early can save money in the long run and technically don’t spend more on courses than they would if they took more time to finish their degree, they need to be ready for the higher per-semester cost. That way, they aren’t short when it comes time to pay tuition.
5. Extra Credit Hours
On the other side of the equation from the point above, there are times when students have to pay for more courses than they may expect. For example, students who change majors might have to attend more classes to meet the requirements of their new degree if not all of their past coursework applies. Similarly, students who don’t pass a class may have to take it a second time.
In either of those cases, students pay for more classes than are usually required to finish a degree. As a result, they incur a cost that pushes them above the average amount a student spends at that school.
6. Non-Course-Related Fees
While many students are aware of course-related fees, students often have to contend with far more fees than they might expect. Along with technology or lab fees, there can be fees for orientation, access to the health center, printing, student activities, library access, and online courses. Plus, students may face convenience fees if they pay a school expense with a credit or debit card.
Not all schools charge separate fees for every little thing. However, others seemingly do. Students can speak with the admissions office to learn more about all of the attendance-related fees they’ll need to pay, giving them a better idea of what to expect.
7. Scholarship Taxes
Scholarships are an excellent way to pay for college, allowing students to avoid costly student loans. However, many students don’t realize that they may owe taxes on their scholarship awards.
Scholarship taxes is a complex subject. Whether a scholarship is taxable or untaxed mainly depends on how the money is used. If they go to tuition, mandatory fees, books, equipment, and supplies, most scholarships are tax-free. If the money is used for other purposes – including college living expenses like room and board – it is typically taxable.
Additionally, taxes are complicated because the amount students need to pay for taxable scholarships isn’t set in stone. Instead, it depends on the financial situation of their household, causing it to fluctuate.
Students who receive scholarships should explore the situation in detail. That way, they’ll know if they’ll need to handle any taxes relating to their awards.
8. Clothing and Laundry
While most students will bring clothing from home, that doesn’t mean they won’t need to buy some while they’re at college. If the weather at their school differs from where they previously lived, they might have to purchase clothing that’s better suited to the climate.
In some cases, students may need to pick up business attire for interviews or jobs. Additionally, if they experience some college weight gain, they might need clothing in a different size to stay comfortable.
Along with purchasing clothing, students will need to clean what they wear, along with their bedding and towels. Many laundromats charge for washing and drying, typically between $1 and $2 each time, though the actual cost can vary. Students will also need to purchase detergent, which can be surprisingly expensive.
Overall, the cost of clothing and laundry can add up fast. As a result, students need to understand that this is an expense they’ll face, ensuring they are ready to cover it.
Did you know that some scholarship awards can be used for any kind of expense, not just tuition, fees, room, and board? If your student is looking for scholarship opportunities that could help them navigate any college cost, there are plenty of options available. To learn about finding scholarships, sign up for our free college scholarship webinar! Take a quick trip over to http://thescholarshipsystem.com/freewebinar to reserve a spot today.
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