So if you add up all the college costs that students and parents probably didn't plan for — the stuff that isn't tuition and room and board, how big is that number? The National Retail Federation estimates that, this year, it will total $43 billion. That's a hard number to grasp so let's break it down to one family — mine.
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The obvious one, that's often jaw-dropping: textbooks. Depending on your child's major, they can be super expensive.
Like the metereology book Chilton's own son once had to buy: "$325, used — $510, new," he says.
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Next, housing. Living on campus versus off is a big decision. Not having your child live in a dorm could save you up to $20,000 over the four years. On the other hand, your daughter could end up sharing a dumpy apartment or group home with a bunch of people who skip out on the rent or utilities. You get the picture.
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Our daughter, Bianca, of course insisted that her perfectly good laptop from high school was too old and too slow. The one we bought her for her freshman year set us back about $800. Then there was her smart phone, which might as well be another appendage. Count on an initial cost of $200 plus an $80 monthly fee. Even the cheapest plans these days cost about $1,000 a year.
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Kathy Allen, a spokeswoman for the National Retail Federation, says more than half of the $43 billion students and parents will spend on non-academic items this fall will go towards room furnishings.
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Another big item on the NRF survey: food. Your options? A meal plan versus the grocery store around the corner. Don't forget fast food and late night snacks. And if your child is anywhere near a Starbucks, we're talking about $120 a month for venti skim lattes and caramel macchiatos.
And alcohol. Yes, your child will drink and yes, that money you put into your kid's debit card every other week is paying for it.
On a typical Friday or Saturday night, figure somewhere between $10 and $50. That may not seem like a lot of money but here's something the U.S. Department of Health and Human Services wants you to think about: College students spend a whopping $5.5 billion on alcohol every school year.
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Finally, health insurance. It's the last thing college students think about. Me? Sick? Not realizing that dorms are breeding grounds for all sorts of diseases.
http://www.npr.org/sections/ed/2015/09/01/432222772/back-to-school-back-to-the-piggy-bank
.........................................
The obvious one, that's often jaw-dropping: textbooks. Depending on your child's major, they can be super expensive.
Like the metereology book Chilton's own son once had to buy: "$325, used — $510, new," he says.
.........................................
Next, housing. Living on campus versus off is a big decision. Not having your child live in a dorm could save you up to $20,000 over the four years. On the other hand, your daughter could end up sharing a dumpy apartment or group home with a bunch of people who skip out on the rent or utilities. You get the picture.
..............................................
Our daughter, Bianca, of course insisted that her perfectly good laptop from high school was too old and too slow. The one we bought her for her freshman year set us back about $800. Then there was her smart phone, which might as well be another appendage. Count on an initial cost of $200 plus an $80 monthly fee. Even the cheapest plans these days cost about $1,000 a year.
...................................................
Kathy Allen, a spokeswoman for the National Retail Federation, says more than half of the $43 billion students and parents will spend on non-academic items this fall will go towards room furnishings.
....................................................
Another big item on the NRF survey: food. Your options? A meal plan versus the grocery store around the corner. Don't forget fast food and late night snacks. And if your child is anywhere near a Starbucks, we're talking about $120 a month for venti skim lattes and caramel macchiatos.
And alcohol. Yes, your child will drink and yes, that money you put into your kid's debit card every other week is paying for it.
On a typical Friday or Saturday night, figure somewhere between $10 and $50. That may not seem like a lot of money but here's something the U.S. Department of Health and Human Services wants you to think about: College students spend a whopping $5.5 billion on alcohol every school year.
..........................................................
Finally, health insurance. It's the last thing college students think about. Me? Sick? Not realizing that dorms are breeding grounds for all sorts of diseases.
http://www.npr.org/sections/ed/2015/09/01/432222772/back-to-school-back-to-the-piggy-bank
