Texts, Tools and Toys: College Loans Don’t Just Fund Tuition
Shopping, shelter, Saturday nights out: There are more things to consider when budgeting for a college loan than just tuition fees. Tuition fees, granted, are a large part, but the little things add up and if you’re not careful when looking over your yearly budget, these little things could cause a big problem.
First, let’s look at other college costs. Books and textbooks can get expensive; some are over $200 each. Check out the course syllabus, which usually lists the textbooks for that course to see just what you’re up against. Then consider the other supplies such as notebooks, pens, calculators, and even lab coats. Getting to school is another cost many don’t think about. If you’re not living on campus, there are car-park fees or the bus pass fee. Finally, when at school, always keep weekly pocket money available. You never know when you might need a coffee or slice of pizza to keep going.
Keep in mind when budgeting that there are other expenses to consider. Just because you’re in college, doesn’t mean the rest of your life stops. Grocery shopping, cleaning items, personal toiletries, and money for laundry - all of these things add up and you need to be prepared now, rather than later.
And, of course, one cannot forget about the joys in life: the leisure activities. Always budget money for Saturday nights out or a couple pints at the college bar. Socializing is a key aspect of college. There are always functions going on from costume parties to Christmas get-togethers to live concerts- don’t miss out because of a faulty budget. Also keep in mind personal items such as new clothing and shoes, money for movies and birthday presents for roommates. And finally, keep a budget open for joining sports teams or clubs. Just because you’re in college, doesn’t mean you can’t keep fit. It just means you might have to pay to join the soccer team or snowboarding club.
Budgeting is a big part of growing up and what better time to learn how to do it than college? If you know what you’re going to need, there will be no surprises and no let downs when the money isn’t available. College isn’t just about books and class. Keep that in mind when budgeting for a college loan in order to step outside the classroom and experience the true college life.