“Why is college so expensive" is a common complaint among students and families as they assess the costs of a traditional four-year college education. There's no question that college is expensive: According to the College Board, published in-state tuition and fees at public four-year schools averaged $10,740 during the 2021-2022 school year, while average out-of-state tuition and fees at public four-year institutions rose to $27,560. And tuition at private schools can be even higher.1
Yet even if you have a financial plan to cover the “basics," such as tuition, room and board, there are many ways your budget can become derailed and have you wondering anew: Why is college so expensive?
Here are eight unexpected college expenses that can throw you and your budget for a loop if you're not prepared, along with A+ tips that can help you save big bucks.
Budget Buster 1: Dorm Décor
Moving out of your childhood bedroom might feel priceless, but outfitting your new one comes at a price. Just spend a few minutes on social media or a big box website and you'll be inundated with “must haves" that add up fast.
A+ tips to save:
Spoiler alert: While there are some basics you will definitely need—think new sheets to cover that traditional Twin XL mattress—you don't need everything those back-to-school lists tout. Less is more, both financially and just to fit in the relatively small space you're allocated. Not to mention that you won't want to artfully arrange those 10 decorative bed pillows when you're late for class.
The best way to control dorm-related excess is to shop your own house and room before you leave. Your current desk lamp, hamper and fan will work just fine, and many homes have extra furnishings languishing in the garage—think shelving, area rugs or a table that can double as a nightstand. Fun, framed (free) photos will be your favorite décor.
Then coordinate with your roommates if you have them—one person can bring the smoothie blender while you cover the coffee maker. For those bigger-ticket items like a new laptop or TV, consider saving up with a certificate of deposit (or CD) account, a short-term deposit account that offers competitive returns with relatively low risk.
Budget Buster 2: Social Life
If you live in a dorm, you probably already paid big bucks for your meal plan. However, it's hard to resist the lure of the whole floor heading out for tacos or your study group's post-session iced coffee run. If you decide to join a sorority or fraternity, payments for Greek life can skyrocket, with spendy dues and additional fees for parties and functions.
A+ tips to save:
The best way to handle these social situations is to adhere to an entertainment budget that allocates a certain dollar amount per week. If you're using money from a summer job or monthly allowance, stash it in a high-yield savings account to boost your return. Then be prepared to make trade-offs: If you know that your crowd convenes for pizza every Friday, make that a priority and forgo the latte on the way to class. Out of money? Invite your suitemates to a streaming party or suggest a free on-campus event rather than heading to the new blockbuster at the local theater.
If you do decide to affiliate with a club that has dues obligations, formulate a plan to pay for them on a regular schedule. A money market account, which is a combo checking/savings account, can be a great place to stash those savings so they're available when needed but are earning interest in the meantime.
Budget Buster 3: Wardrobe Needs
New school, new you, and that might entail a style shift. Fashion aside, you may need to revamp your closet with weather-related essentials—the cost of heavy coats, boots and gloves can catch you off-guard if you're attending university in a vastly different climate.
A+ tips to save:
First, remember that while you might be tired of your wardrobe, your new pals have never seen your clothes so every outfit is new to them. Even if you want a refresh, it's best to wait until you're on campus to make any big purchases; each school has its own fashion norms. If you need to invest in weather-appropriate apparel, watch for sales or buy second-hand. Sturdy coats and other winter essentials typically aren't terribly fashion-forward anyway and hold up well.
Finally don't forget the allure of renting or borrowing special occasion wear. Save your green and be more green in one step.
Budget Buster 4: Incidentals
Leaving home sweet home also often means leaving behind ready access to cupboards stuffed with shampoo, bandages, sunscreen and other toiletries (including, yes, toilet paper). Many students who don't do household shopping on a regular basis are floored by how much these necessities cost. And that's before you start thinking about laundry—most dorms won't offer free access to machines, not to mention detergent.
A+ tips to save:
Here again, revisit and update your budget accordingly. This is your chance to become a careful shopper, purchasing items when they're on sale and with coupons, moving to store brands and buying in bulk if you have sufficient storage.
Less laundry also means more savings. While you don't want to shirk on cleanliness, think twice about laundering those jeans you've only worn once and plan ahead so you're not doing a small (wasteful) load of two items of spirit wear you forgot you needed for tomorrow's game.
Yet since you have to buy these essentials anyway, why not get a little something back for yourself too with a no annual fee cashback credit card? Just make sure to pay it off every month so you don't incur interest charges and then use your rewards points to build an emergency fund to help cover unexpected costs that are likely to pop up.
Budget Buster 5: Study Abroad
Spending a few weeks or semesters on a global adventure can open doors to new experiences and career opportunities. With travel once more opening up, undergrads are more interested in overseas study than ever, with one survey finding that nearly three-quarters of college students said they'd like to study abroad.2 But this once-in-a-lifetime opportunity can come with hefty expenses you'll want to be ready for.
A+ tips to save:
Talk to your college course planning advisor early on to create a plan that takes into account your necessary requirements. You want to make sure you don't miss out on vital credits while abroad so saving some core classes like language or art can fill those gaps. Keep in mind that some majors have more restrictions than others. Then compare programs carefully to make sure you're getting the most bang for your buck. Check to see if they cover housing, food and expeditions or if you'll be on the hook for all of those separately. Then start saving—today—so you can reap the benefits of compound interestand say au revoir, ciao or adios to your campus feeling financially free.
Budget Buster 6: Traveling Home
If you attend college out of town, traveling can become a more significant line item than expected, especially if you need to book plane tickets. That's because you'll likely be traveling at holidays and other peak times when tickets command top dollar. Even if you're driving, gas can add up. Also keep in mind whether you'll need summer storage for items you want to leave near campus, especially if you're traveling by plane.
A+ tips to save:
Plan ahead for breaks and book travel at your first opportunity. As soon as you receive your syllabi, check your exam schedule so you don't inadvertently book a ticket home during a crucial class period but aim for refundable options as plans (and exam schedules!) can change.
If you're within driving distance but don't have a car, check around to see if you can share a ride with someone you know and trust. They'll appreciate the company and the gas money. If you're the one with the car, see if you can join forces with another road warrior to help save on fuel.
As you look ahead to summer, do the math on shipping vs. stowing your extra items to see which makes the most sense economically. Then research storage fees and book your spot early; the most affordable ones can fill up fast. Buddying up can save you even more because incremental costs are rarely significantly more for a larger space that you can then split three or more ways.
Budget Buster 7: Textbooks and Other Course Materials
Once you've paid tuition, you would think that includes course materials, but you'd be wrong. One estimate found that the average postsecondary student spends between $628 and $1,471 for books and supplies and it can often climb higher, especially for some majors like art or pre-med.3 While more courses are going digital, even online textbooks often require pricey access codes.
A+ tips to save:
Wait until the first day of class to double-check with the professor what materials you actually need despite what the syllabus says. Course materials can change from time to time, or they might have online resources you can access free of charge.
If you do need materials, buy them used at the bookstore or on a student exchange site. It might be even cheaper to rent the items online but watch the return date carefully. It's easy to get excited when the semester is over and forget to return them, and these sites often have strict return dates and steep fines. For other supplies you just need for a short time, like a fancy calculator for a required math class or an instrument for a music elective, always check around to see if you can borrow, rent or buy second-hand.
Budget Buster 8: Not Finishing College in four Years
Circling back to those college costs we cited up front, each extra semester ups your outlay, so it's vital to plan ahead.
A+ tips to save:
If you're unsure of your major—and many students are—try to select classes that will introduce you to a variety of potential paths, but can pull double duty as required “core" classes if you decide not to apply them to a major. Talk to an advisor early and often to ensure you're on track. Make sure to ask about any advanced high school class that might be eligible for college credit. And your top priority should always be keeping your grades up—graduating on time, and of course, graduating in the first place—is the number one way to set yourself up for a positive financial future.
Cathie Ericson is an Oregon-based freelance writer who covers personal finance, real estate and education, among other topics. Her work has appeared in a wide range of publications and websites, including U.S. News & World Report, MSN, Business Insider, Yahoo Finance, Market Watch, Fast Company, Realtor.com and more.
LEARN MORE: How To Save Money In College: 40 Totally Doable Tips
Sources
1. Trends in College Pricing and Student Aid 2021. CollegeBoard.org. URL.
2. “More than 72% of Students Plan to Study Abroad in 2022." HigherEd Dive. URL.
3. “Average Cost of College Textbooks." Education Data Initiative. URL.