Attending college can result in significant outlays. Not just the hefty tuition fees, but additional costs can accumulate if not monitored closely. If you’re bound for college soon, consider these 8 methods for minimizing your college expenses.
1. AVOID THE CAMPUS STORE
Back in the days, people had to buy their textbooks from an on-campus bookstore, where a couple of them could cost hundreds. Selling it back after the semester was a minor relief, if lucky. Disregarding those high-priced campus stores in favor of emerging off-campus options is a good move, as they generally offer better rates and more options to buy back used books. As another option, textbook rental programs have gained ground lately. A last-ditch strategy could involve sharing textbooks with friends or roommates, particularly for high-cost ones.
Also, don’t limit your campus store avoidance to just books; stationery supply isn’t any different. Big-box stores like Target or Wal-Mart or office supply stores might offer better prices. Don’t forget to consider any shipping charges if opting for online purchases.
2. MEAL PLANS
While colleges often mandate meal plans for on-campus boarders, they are usually costlier than self-made meals. Still, they tend to be more affordable than frequent dining out or reliance on prepackaged food. Key here is to calibrate your school meal-plan coverage judiciously, ensuring you consume all the meals allotted.
Importantly, choose your meal plan wisely. The cheaper plan may, ironically, have you racking up more food expenses due to unforeseen gaps. So, weigh your options carefully.
3. ACCOMMODATION
The most cost-effective option is to stay with parents. But if that’s not feasible, compare the costs of on-campus housing with off-campus alternatives. Consider inclusive utility costs, commuting expenses, and other conditions like parking fees and lease-flexibility to include your summer breaks, lest you end up paying more than the cost of a campus dorm.
4. ACADEMIC FEES
Certain fees are inevitable — such as tuition and lab fees. On the other hand, avoidable costs like late charges on library books or parking fines should be evaded. Delinquent charges should be cleared, as these may prevent you from registering for future semesters. If you’re considering photocopying library material, consider modern alternatives like snapping a picture or simply borrowing the book to copy later.
5. Readiness
Your daily preparedness can save you unnecessary costs. If you’ll stay long at school, bring your own food and drinks instead of succumbing to vending machine cravings or a costly cafeteria meal. Bring along a refillable water bottle. Double-check you’ve got everything before leaving, especially if you reside off-campus. Accidentally leaving things behind can lead to buying substitutes, which can quickly add up.
6. THRIFTINESS
Being thrifty during college pays. A significant cost-saving practice includes using scrap paper for initial drafts before final writing on expensive engineering paper. Also, instead of printing with your own printer, consider using the free printing services of campus computer labs.
7. STUDENT SERVICES
Certain provisions included in your tuition are worth exploring. Many campuses provide free urgent healthcare, counseling services, gym, and pool access. Also, look into discounts for health and car insurance, computer and software, and even local store concessions.
8. FREE EVENTS
Before shelling out for entertainment, consider low or no-cost activities offered by your college. Many campuses provide free or discounted admission to sport events or free food. Check the campus life event calendar for concerts, movies, comedians, etc.
With increasing college tuition, smart money management is crucial. Spend wisely, and you may accumulate savings for next semester’s tuition and books. Begin to cultivate sound financial habits; they could be beneficial in your early career stage.
What other cost-saving strategies did you apply during college?
