Saving for your Child’s College Needs this Fall

If you have a child enrolling in a college or university this fall, then you already know that there are a number of expenses that you need to be prepared for! However, there are costs that extend beyond just paying for your child’s tuition! You don’t want to be blindsided by additional costs and fees, and there are plenty of expenses that constitute things that your child can’t go without! As such, here are three additional costs that you need to be aware of and prepared for before the fall semester starts!

Be Prepared to Pay for a New Laptop

A laptop is something that your child will not be able to live without in college, and thus you’ll need to be prepared to pay for one! Saving money by purchasing a cheaper laptop may seem like a good idea, but just know that the laptop that you buy must be able to last at least four years—and cheaper laptops often don’t! As a result, you should be prepared to spend somewhere around $400-$600 on average to supply your child with a good laptop! It’s important to note that many retailers that sell laptops will often have back to school sales and promotions, so you may be able to find a good deal if you consult the right retailers!

Don’t Forget the Cost of Books

Many colleges and universities offer digital versions of your child’s textbooks, but that doesn’t make them any less expensive! As a result, you should be prepared to spend a few hundred dollars on the cost of books for your child! Just as the laptop, textbooks are necessary for you the classes that you child will be taking, and thus you cannot try to cut costs by not purchasing books! However, school bookstores will often sell used versions of books for a lower price, and even allow your child to rent a book for a year-long fee! Given that you child cannot go without the books that they need, you should do everything you can to find a good deal and a lower price!

Meal Plans are Important too

Depending on where your child goes to school, the cost of their meal plan may be included into the cost of their tuition! In addition, there are often a number of different options for your child’s meal plan. If your child is required to live on campus, then paying for a meal plan will almost certainly be a required expense! As with all expenses, the cost of the meal plan will vary depending upon the needs of your child! However, be prepared to spend over $1,500 per semester to pay for your child’s meal plan! This cost can be reduced through resources such as financial aid, so be sure to consult all available options to help with this expense!