Paying For College

Budgeting for College

 

Budgeting for College Sample Costs for Northwest Colleges and Universities   College Costs Include More Than Tuition   Every school charges what is known as tuition which is the price you pay to receive instruction at that institution. In addition, schools charge fees for things like lab supplies and the health center. You also must pay for books, room and board and other living expenses.   Each year, schools figure out the average amount a student will need to attend the school. The cost of attendance includes tuition and fees, room and board, allowances for books and supplies, transportation, and personal and incidental expenses. Student loan fees, if applicable, also may be included in the cost of attendance, as well as child care and expenses for disabilities, at the discretion of the financial aid administrator.  Schools establish different budget amounts for students living on campus and off campus, those who are married and unmarried, and those with in-state and out-of-state residency status.   Try not to let a school's cost of attendance scare you away. Don't make your decision based on the cost alone. Instead, consider what the school has to offer, its location, programs, the student body, faculty, and other any other factors that are important to you.  Although you're responsible for paying for your education, financial aid can help. You won't know if a school is affordable for you until you receive your financial aid award letter in the spring of your senior year.  This page will help you develop a working budget for college.   Besides tuition, you'll have to pay for other things, such as:      Books and supplies      Room and board (where you live, food, utilities, etc.)      Fees (lab, Internet, parking, registration, etc.)      Transportation expenses      Personal expenses      Entertainment      Travel Washington Financial Aid Association Student Budgets Estimates. Average Tuition and Fees 2011-12 by State and School Type State Public Two-Year Public Four-Year Private Four-Year Washington $4,000 $10, 500 $28,000 The table below was developed to give students and parents a basis for calculating costs to attend college.   These are approximations.  Actual costs may vary. Tuition and housing options vary from school to school so that must be factored in  Expense Living At Home Living Away From Home Tuition and fees (look up current costs on college website) $-? $-? Books and Supplies $750-$1000 $750-$1000 Room/Board (Food, Rent, Utilities) $-? $6000-$12000 Transportation  $1500 $2500 Miscellaneous/Personal         $2000 $2000 Estimated cost ? ? HOW MUCH DOES IT REALLY COST? (Data tables from NELA's Paying For College) Here are the average costs during 2009–2010 and 2010–2011 at two-year and four-year schools for full-time undergraduates, and the percent increase from one school year to the next. TUITION AND FEES ROOM AND BOARD TOTAL CHARGES Sector 2009-2010 2010-2011 $ Change % Change 2009-2010 2010-2011 $ Change % Change 2009-2010 2010-2011 $ Change % Change Two-Year Public $2,558 $2,713 $155 6% * * * * * * * * Four-Year Public $7,050 $7,605 $555 7.9% $8,162 $8,535 $373 4.6% $15,212 $16,140 $928 6.1% Four-Year Private $26,129 $27,293 $1,164 4.5% $9,335 $9,700 $365 3.9% $35,464 $36,993 $1,529 4.3% * Sample too small to provide meaningful information. Note: Four-year public tuition and fee levels are based on in-state charges only.Source: "Trends in College Pricing 2010" Copyright © 2010 The College Board, www.collegeboard.com . Reproduced with permission. Need and Merit Based Aid