Don't Trust College Off-Campus Living Cost Numbers

When considering colleges, I’d also suggest looking at the various costs of “on-campus” housing after freshman year…

My daughter was fortunate to get a good lottery #, and was able to choose an on-campus unfurnished apartment (which she will be able to “dibs” each year,) at a cost of about $4,400 from September - May. This costs over $2,000 less than the freshman dorms, is still considered “on campus housing” therefor the financial aid package awards aid based on the freshman dorm cost. Off campus apartments run about $780 a month per person (from a parent board I belong to) and require a 12 month lease. I gave her a conservative budget of $500 for furnishings for the apartment, and let her deal with that; she found a great price for a foam mattress online, a bed frame, desk and chair through Craigslist, a night table from Ikea, and some very nice kitchen pans through thrifting, along with other incidentals. We will need to pay $200 a year to store her furnishings over the summer, however we will still be spending about $2,000 less a year or “room” than freshman year - board will also be a lot less expensive.