College Costs No One Thinks About
Most families often underestimate or overlook what it costs for their student to attend college. Most families will rely totally on college websites where the published total cost of attending is shown. However, there are other costs that is overlooked once the student gets to the ivy-covered walls of their selected college or university.
According to an article from The Washington Post, “The average undergrads spend $765 every year eating off campus, even if their parents have already shelled out for a meal plan. A bus pass to get to an off-campus job or internship can be $50 a month or more. Dorm insurance or renter’s insurance might cost a couple hundred dollars per year.”
According to Consumer Reports, “Laundry isn’t free. You might pay fees for joining a club or storing personal items over the summer. Concerts, sporting events, and movie nights add up too.”
Unforeseen or unbudgeted additional college costs could very easily break a family’s college budget. According to Edvisors, a website that provides information on planning and paying for college, “Unforeseen college costs can add up to an additional $250 to $500 every month. For the unprepared, the extra expenses can be a major financial strain. Sixty-four percent of college students have run out of money before the end of the semester at least once. Unanticipated costs were to blame for drained bank accounts in half of those cases.”
Here is a list of unforeseen college cost that most families over look:
Adding up all the additional college costs that are overlooked could cost the family several thousands of dollars over their students stay in college. Therefore,putting together a cash flow and tax plan to cover college costs is so important.
HERE IS WHAT YOU GET:
We show you how you can save an average of $100 to $300 each and every month so