<p>Figured I would start a new and interesting thread for those going to W&L lol</p>
<p>Some of the unexpected expenes may be - uummm let me see.........
Frat expenses - if you pledge
a tux? maybe for fancy dress ball
that flat tire you get - if you bring a car
a new printer - cuz yours went out the window
a blazer??
your share of the gas if you go someplace with someone
the emergency trip home
the much wanted do-da from the bookstore - book, W&L blanket - that special holiday gift you just have to get lol
medication - if ya get sick and need a script and have to pay any part of it
toothpaste, shaving cream, deodorant - things like that
food/drink you inbibe that is not from the d'hall
the tow - when your vehicle gets towed from that wrong parking space or a ticket you may get for something - believe me - it happens
your share of the 'party' or trips to all nite diner - stocking the fridge
the trip to Wally World or Piggly Wiggly cuz you need something
if you participate in a club there may be expenses to cover
if you do any of the school trips - there may be some shared expenses</p>
<p>There are all kinds of things -things that you just don't think of or know of til it happens - just plan on 'some' expenses that will come up</p>
<p>HAHA 'pizza $$' - i call it that cuz you always have to split it 6-8 ways by the time you get it - but the work-study thing is a great opportunity - the number of hours goes up with each year - my DS had the same one for 4 years - so always had 'pizza $' - good thing too.......he also worked at one of the local hang outs too.</p>
<p>Another good hint - Trip AAA is always good to have - even if you don't have your own car - you can use it for your buds car as long as you are with it and you are kinda out in the boonies in Lexington.</p>
<p>and thus the longest running post in the history of this forum dies, RIP</p>
<p>That said, thanks for the list, most of this stuff can be covered by a credit card and whatever I make this summer though, definetely does not look like I'm going to need that $1800 (plus interest) loan.</p>
<p>DIMA I am soooooooooooo sorry about the post :( want me to go back there to give it CPR???</p>
<p>But a serious question for you - are you planning on pledging a frat by chance as a freshman?? I ask because the expense may be something to consider and you will need to be prepared for that if you are considering it. May be a good idea to find out what the costs/dues are in advance - just in case - so you are prepared.</p>
<p>You also mention that you may do a double in the dorm - that will make a difference in your actual school expenses - so not a bad idea about the loan. For my son at W&L - he had a single for all 4 years there - he loved having his own space - but was a VERY social guy there too - whether it was in a dorm, frat house or country house.</p>
<p>Neither of my kids left for college with a credit card - tho that has now changed lol - but they both did/do the 'pizza $$' thing too and also had other jobs as well - so that helps alot - and they both work/worked summers for their spending $$. Is the loan subsidized or un-sub'd?? The interest is un-sub'd will be very little - just an FYI.</p>
<p>It sure sounds like you have a plan tho - which is a great thing to have.</p>
<p>I was just kidding about the post, all good things must end, right?</p>
<p>In regards to a frat, I've already thought of that. Since W&L have a Winter Rush, I'll have time to explore my options, find out the costs, etc. and I won't have to decide whether to rush or not until Winter Break, at which point I can get money from my bank account at home or wait until New Years eve when my parents are totally drunk (Russian parents ;) ) and ask them for some help, jk.</p>
<p>I find that credit cards are very useful if you know how to use them. For the last year, I've had a credit card that is linked to my mom's Discover account. Really useful when you don't have enough cash on you and I don't have the urge to spend a ton because my father sees the statements online and investigates every single expenditure. Because of this, I've gotten used to responsible credit card use so I can feel safe getting a credit card in college. It will pay off in the long run as I will build my FICO score early. Allowing me to get better credit cards once I'm out of college and better car loans and mortgages when I need them in the future.</p>
<p>The loan is unsubsidized, which means that the interest accumulates whily I'm still in school and the rate is variable (capped at 8.25%). Interest rates have been steadily rising the past few years due to the recovering economy so it's probably a bit higher than when your son went to school. At any rate, I'm sure I can make the same amount of money working this summer (I'm looking for a paid internship). I think I would rather work in the summer and then graduate without debt than have a carefree summer and owe about $8,000 by graduation.</p>
<p>DIMA -You definitely have your ducks in a row - BTW my DD's sub and un-sub interest rate is 2.77 - the rates will actually crawl slowly - even in an improved economy - if they do go up. The work experience - internship or just a job will pay off for you. </p>
<p>Personaly I like the winter pledge thing - it can be really overwhelming for freshman to adjust and do the frat stuff - W&L changed their policy when my son was there - and makes great sense. </p>
<p>Your parents must be very proud of you - you reallly sound like you have your act together big time. OOO and New Years Eve - sounds like perfect timing too rofl.</p>
<p>*Printer ink or toner, because the school printers charge $0.10/page.
*Extra paper for the printer. You will run out of both at the end of the semester, when you have a 20-page paper due.
*Allocate at least $200 for dorm room set-up - blankets, towels, broom, fridge, microwave, lamps
*Salerno's money
*Black Dog Cafe money - they now deliver
*The occaisonal dinner out
*Shampoo, conditioner, razors, deodorent, lotion, perfume (okay, I'm a girl), makeup
*$15 in gas every time you want to go to Roanoke
*$3.50 for Daily Grind coffee (not that I'm becoming addicted to my Starbuck's replacement... try the German chocolate)
*Theatre money - because it's not any cheaper here (although they only have 3 screens and 2 showtimes) than in the city
*I second the bookstore money thing - get a sweatshirt, t-shirt (they have darling shirts for girls - so much better than the androgynous things at my alma mater)
*money for OJ, milk, cookies, or whatever from Kroger</p>
<p>JeepMom: is your son able to lock in interest rates... and if so, how? (Asked by a woman who is swamped with debt, where every extra percentage point of interests adds about $10k!). Thanks :)</p>
<p>Arie - my DS did a consolidation of his loans between undergrad and grad school - cuz no loans needed for grad school - about 1/2 paid back right now - all fed sub and un-sub loans - all with low rates - they have gone up very little since he took them out. My DD's loans - both fed sub and un-sub are very low rates - you can't lock them in - but they may/maynot change annually by a very small % - unless the economy really takes off - which i doubt very much. </p>
<p>If the loans are EXTRA loans - taken by the student - interest should be @ about 5% - if PARENT PLUS loans - interest should be @ about 4.17% - and neither can be locked in also - sorry</p>
<p>Okay, thank you. Obviously, I would LOVE to lock in 4% interest rates or the like. Just wondering, becuase I hear so much about it, but I guess it was probably more popular back when 9% was considered good!</p>
<p>I'm taking out all my own loans - full amount for 3 years - $40k/year - eek! </p>
<p>Arie, dear Lord a closet Southerner, a convert is born! Seriously, A good friend of mine grew up in the Philly area, college at Williams, law at Vandy, and just never left after that, it grows on you, weather's not bad either, particularly in the Shenandoah, best weather in the world, IMHO.</p>
<p>Kids lose their retainers, contact lenses, glasses--been there and done that. Need new shoes, dry cleaning, chip in for a flowers/basket for a prof, staff member, student, lose/break cell phone, decide to buy a reference book or computer CD on something, gang is going out for something special, ingrown toenail, chipped tooth. Always a use for extra $$s.</p>
<p>Now, in my own defense, those shirts/shorts are CUTE. They are form-fitting, come in blue, pink, yellow, purple, and a few other colours, and have matching shorts and pants. As I said, not androgynous grey/blue that almost every other school has.</p>