I save the least important subject of the site for last. You will always have a food budget, and eating right costs good money. In terms of its toll on health and wellness, cheap food is rarely worth the price. That said, you can eat well and save money as a student if you forego the more common options presented to you. Let’s dive into some of the food options and plans distinct to the college experience. Continue reading
Elsewhere we’ve detailed the full-cost breakdown students face when going to college. The big lesson was to not ignore the fact that we must also consider the financial impact of room, board, books, and transportation when making plans. After I presented that chart I was tempted to provide you with a series of tips on how to save money on such things. But I realized to do so at this point in this blog’s lifespan would send the wrong message.
This chart unwittingly proves this point. Here we have an infographic and state-by-state breakdown compiled by ecollegefinder.org of the most expensive dorms in each state (note, however, this chart and figures refer to room and food, meaning the combined cost of dorms and meal plans).
While fun and informative, this chart serves as a great object lesson to not get too mired down in dealing with such expenses. Yes, we need to consider them when pre-planning our annual allocations of resources. But… Continue reading
Housing
Ah, the college life. Fond, fond memories of those two a.m. prank runs, the late night bull sessions, the sort of crazy antics that come anytime you put six teenage guys in a small space with no direct supervision.
One way or another, college housing dynamics make or break a college experience. It probably goes without saying, but you will spend more time with your roommates than your profs and more time around your living space than in any classroom. Getting this right matters quite a bit to the college experience. You will have a lot more considerations to the situation than purely financial ones. Roommate selection, amenities, décor, proximities and so forth impact everything you do in college. Continue reading
This chart comes courtesy of Adam Zoll, assistant site editor of Morningstar.com, who has been on a tear lately with a number of quality articles related to college finances. His informative series is not only packed with quantitative insights into higher education and related savings vehicles but also the sort of good, broad, and level-headed guidance lacking elsewhere. If you’re in the hunt for money saving ideas, and I suspect you are if you’re reading this blog, you can get some pretty compact advice by checking out his recent articles.
In this chart and article, titled And You Thought Just Tuition Was Expensive, Mr. Zoll points to a major problem for the affordologist: the fact that we cannot overlook the high and ever-rising costs in all things college. According to his sources, the additional costs of college- books, room and board, transportation, and incidentals- tack on an additional $14,000 per year per student on average. That’s not insignificant given that in-state public school tuition tends to run about $9,000 per year. Continue reading