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College Costs
There are generally two types of costs that make up the total price of education:
- Direct costs are assessed by the school and vary little from student to student. Direct costs include tuition, fees, and on-campus housing expenses.
- Indirect costs are those that you can influence based on choices you make. Indirect costs include books and supplies (which you can choose to purchase new or used), off-campus housing, transportation, and personal living expenses.
According to the College Board, the average total cost of attending a four-year public college in the 2006–2007 academic year is $23,344 and the average total cost of attending a four year private college is $88,872. Your actual costs are likely to vary from these figures based on the school you attend and the choices you make on campus.
Completing a budget worksheet (PDF) is a handy tool for estimating your total potential costs.
| My Monthly Budget Calculator Worksheet (PDF) |
| EDUCATION EXPENSES |
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LIVING EXPENSES |
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| Tuition & Fees |
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Clothing & Shoes |
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| Books & Supplies |
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Laundry/Dry Cleaning |
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| Health Insurance |
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Personal Care (hair, toiletries) |
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| HOUSING |
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TRANSPORTATION EXPENSES |
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| Room & Board |
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Car Payment |
_________ |
| Utilities (electric, gas, sewer, trash) |
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Gas, Oil & Service |
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| Telephone |
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Auto Insurance |
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Parking Fees |
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| FOOD |
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Local Bus, Subway, Taxi Fare |
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| Campus Meal Plan |
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Plane, Train or Bus Fare home |
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| Groceries |
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| Restaurants |
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OTHER EXPENSES |
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| Beverages |
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Computer/Internet Access |
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Medical Expenses |
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| ENTERTAINMENT |
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Loan Payments |
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| Movies, Plays, Concerts |
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Subscription/Membership Dues |
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| Cable/Satelite Television |
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Gifts |
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| Sporting Events |
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| Recreation Equipment/Fees |
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TOTAL MONTHLY EXPENSES |
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