<p>How realistic are costs of attendance these days in comparison to frugal, average, and spendthrift students? Particularly in the more variable non-tuition categories like room and board (especially if off-campus), books, and "other expenses".</p>
<p>In other words, will an average spender need about what the listed cost of attendance is? Will a frugal spender be able to spend $thousands less without serious impact on studies or quality of life, resulting in less debt or more savings at graduation? Or is the cost of attendance more commonly based on a frugal spender? How much does this vary by school? (Of course, a spendthrift will likely overrun any budget.)</p>
<p>Yes, you can cut some of the cost of attendence by money saving measures like opting for the low cost housing, used books or swaps, off campus housing, or taking a cheaper meal plan if offered. The COA is an inflated number that includes things like transportation, books( at cost).</p>
<p>When D was deciding her choice of school, we looked at the more realistic cost and decided based on that. We were able to shave off about 3000.00 her first 2 years, by taking the low cost housing (on 5th ave in NYC, no less) and te more flexible meal plan. We shaved off about 5000.00 senior year by doing off campus housing.</p>
<p>The important thing is to look carefully at the options available. Things like transportation can vary widely, depending of whether the student has to fly vs drive to U & how often the student will go home, how far that is & how expensive.</p>
<p>Meal costs can also vary a great deal. Many save by cooking instead of having food service. Housing on vs. off campus varies again. S was MUCH more frugal than D & able to live an OK life on about 25% less than her (her JR year apartment was WAY over-priced). Housing & food are two big ticket items that can vary a great deal.</p>
<p>I would not count on the COA being inflated everywhere. </p>
<p>We were granted $2,000 a year beyond tuition, room and board, which seems to be a very frugal estimate. I had a few international friends who had no support beyond the COA and really struggled to make ends meet. They didn’t have cell phones or computers, for instance, couldn’t afford to go home a single time in 4 years and spent their breaks (when the dining halls were closed) in dorms without kitchens surviving on bananas and Ramen noodles. I remember one friend being super excited when she had finally saved $300 for a used laptop, only to spend it on a dentist visit instead…</p>
<p>Not much potential for savings in room and board either. Living off campus seemed to be more expensive than room & board on campus and was considered a privilege of the rich students. (Well, a one-hour commute would get us to a cheaper area but working for 10 hours a week and living on campus would have greater financial benefits with the same time strain and less isolation.)</p>
<p>The schools our kids have attended allowed for $2500 in “personal expenses”. I think they spent maybe $500-600. All activities on campus were free, sporting events, etc. Meal plan was generous. Travel costs were minimal (driving distance but not figured into the 500 but add another probably $200 for gas for the year, maybe).</p>
<p>Things like cell phones and auto insurance (no car on campus) were already being paid by us so I never really considered that a “school” expense.</p>
<p>Got off lucky with books, kids on campus shared books a lot. There was a used book store right off campus with great prices. The profs were very good about letting kids know which editions of the books still worked for the class so buying used books was easy. One semester our oldest spent $30 on books. That was nice. They were NOT math or science majors though so that does make a huge difference. Book budget at school was $1000/year, spent less than half that most semesters.</p>
<p>COA was a bit over $18,500, actual costs were closer to $16,000.</p>
<p>Anyone who is considering this option should investigate the availability of supermarkets within walking distance of where the students live (I’m assuming here that frugal students do not have cars). </p>
<p>Both of my kids ate in cash facilities on campus or ate delivered take-out food even when they lived off campus because they did not have cars and there were no supermarkets within walking distance. Eating this way is at least as expensive as a meal plan – maybe more expensive. This was at two different universities.</p>
<p>We’ve considered the school’s COA estimate to be accurate. You may be able to save a little on used books, but end up with an unexpected random charge for campus health services. Your child might be able to find off, off, off campus housing that is cheaper than the dorms, but then need a car to get to campus, and have to pay a fee for parking on campus plus a fee from the city for street parking in front of his rental. Not to mention the need to foot the purchase of furniture, kitchenware, cleaning supplies, etc., that weren’t necessary in the dorms. You may be able to get by with a cheaper meal plan, but your child may end up buying many meals at campus (or off campus) restaurants. The variables are slippery, and hard to anticipate.</p>
<p>The costs of living off campus, near enough to be able to walk, are particular to the individual university and surrounding town/city. Students at our state flagship do NOT save money by moving off campus. The off campus available housing is breathtakingly expensive.</p>
<p>After first I thought the COA information was way over estimated, but now I think it is about right. One semester might be less than another but in the end the money you spend will be near the COA. </p>
<p>Things to consider:</p>
<p>Dorm essentials like special sheets, lamps, and wastebaskets. </p>
<p>Going to and from college. </p>
<p>You must buy a computer and software. </p>
<p>Costs from using the healthroom(not all costs are covered…labs and ace bandages).</p>
<p>All the normal replacement when items run out or need to replaced(clothing, personal care items, school supplies and batteries) </p>
<p>Cars and entertainment can add a great deal to the cost.</p>
<p>I guess you need to figure out what you consider part of the “cost of attendance”. Medical bills and personal care items (shampoo, etc.) would be paid for/bought no matter where you were, college, home, own apartment, etc. </p>
<p>Dorm supplies, sheets, etc. don’t “have” to be purchased, most homes would be able to come up with the things a college student would need, but it is nice to start freshman year will all new stuff.</p>
<p>A major variable is entertainment. At some schools my son is considering, lots of free activities are provided by the college. These tend to be the schools in more rural settings. Going to school in the heart of a major city (as I did) can be very costly entertainment-wise.</p>
<p>In one instance, the bus service was too infrequent and the bus ride too long to make purchasing perishable food a realistic possibility. In the other instance, there wasn’t convenient bus service from the near-campus area where the student lived to a supermarket.</p>
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<p>I wouldn’t strip the student’s bed at home and use the bedding for college. This would leave the student with nowhere to sleep at home during breaks. (If the student has a car and will use it to drive home for breaks, this might be an exception, though, since the bedding could be thrown on the back seat of the car pretty easily.)</p>
<p>I guess I was assuming most houses have more than one set of bedding, sheets and blankets anyway, for beds. We had plenty we could have sent along but it’s like taking your kindergartner back to school shopping, it’s fun and a way to celebrate a new chapter in their lives. You just don’t HAVE to do that if funds are an issue.</p>
<p>Bedding is not all that expensive compared to college cost of attendance. $20 to $40 for a full set of sheets is less than many college textbooks.</p>
<p>Add school supplies… Last I checked FAFSA did not cover balsawood and there’s a rainforest somewhere with a major empty area in it named after my daughter… Some majors, you can get by on the cheap but some, not quite so. Thankfully her outlandish supply costs match her lower textbook fees… </p>
<p>If you compare off-campus with on-campus make sure you consider 12 month leases vs 9, and possible summer school variations.</p>