10 Jul Understanding the Costs of College
What does college really cost? Oftentimes it is the very first question families ask when deciding where their student should apply. It’s a good question and something Accolade Financial can help you sort out; so let’s get into the details.
Tuition is typically the biggest segment of college costs. It’s the price you pay to actually attend classes each semester and is a fixed cost each semester. The cost of tuition varies from college to college.
Room and board is what you pay to live and eat on campus. You should look into what your meal plan includes and determine what makes sense for you. Alternatively, if you’re going to live off-campus and commute what are you spending on rent, food, gas and tolls?
You should also be factoring in other costs—books for each semester’s classes can add up; school supplies or a new computer; fees for extracurricular activities and clubs; and, if you’re traveling long-distance to a school, plane tickets to and from school throughout the year.
On paper, it may seem that these costs add up quickly and may price your family out of certain college choices. At Accolade Financial, our goal is to help your family find the best college for your student and to help you make it as affordable as possible.
Financial aid is available to most full-time college students and is not only awarded based on financial need, but also academic or athletic ability. We often find the published price of college is much higher than the net (out-of-pocket) price.
Let’s talk and put together a plan for your family to help find the best college opportunity for you.