The Hidden College Costs No One Warns You About

Blog Highlights

• How to Spot Hidden College Costs: Learn about common expenses that often get overlooked, from off-campus housing fees to transportation and daily living costs.

• Simple Strategies to Cut Spending: Learn practical ways to save money, including affordable housing tips, meal planning ideas, and how to use your student status for discounts.

• Money Habits That Pay Off Long-Term: Learn how to build strong financial habits in college, like budgeting, saving regularly, and using part-time work to cover everyday expenses.

College costs can really add up! From tuition and books to room and board, it definitely pays to plan early and prepare for the typical college expenses.  Sometimes, however, there are hidden college costs that can be a financial burden, especially when the expense was unexpected or underestimated.

If you have college costs in your future, here are some hidden costs no one warns you about to help you plan ahead.

The Real Budget Busters - What’s Not on the Tuition Bill

Housing Cost Surprises

On campus living costs are typically predictable – the comprehensive packages include all your expenses bundled together. However, living off-campus requires managing separate expenses such as utilities, internet, security deposits, and furniture.

How to Save

• Split housing costs with roommates.
• Use budgeting templates to plan for monthly bills.
• Shop thrift stores for furniture, dorm essentials, and more or borrow from family/friends.

Food Expenses Can Add Up Quickly

Student meal plans don’t cover everything you want and need to keep your brain and belly fueled. Things like sushi night, coffee runs, and stocking up on study snacks add up quickly.

How to Save

• Learn basic cooking skills and meal prep to reduce waste and cost.
• Shop with a list, price check items, and limit shopping trips.

• Use coupons and student discounts at local grocery stores.

Textbooks and School Supplies Can Be Expensive

While textbooks and school supplies are expected, be aware of other hidden college costs that may be needed like access codes, printing, and software subscriptions.

How to Save

• Buy used, rent, or share books with classmates.
• Research free online PDF versions of the required material from the library.
• Take advantage of student discounts on subscriptions, tech, and more.
• Sell back books at the end of the semester.

Transportation and Daily Life Cost Money

Cost of transportation for school and daily life is often overlooked when considering college expenses. From Ubers and Lyfts to public transit and more – it's wise to plan ahead for these hidden college costs.

How to Save

• Budget for monthly transportation expenses or rideshare with friends.
• Use student transit passes, walk, or bike when possible.
• Attend free or local events on campus instead of things that require expensive travel.

Smart Money Moves for College Students

There are many savvy financial moves college students can make that'll help with expenses and saving money. From budgeting to avoiding unnecessary debt and saving a little each month, the choices you make now can have a big impact later. Here are a few ways college students can start making smart money moves.

• Get a Part-Time Job: Working a part-time job while attending college is a savvy money move that can help cover day-to-day costs. Look for on-campus jobs as well as online jobs that offer academic flexibility and no costs to commute!

• Build a Habit of Saving:  Making regular savings deposits helps cover unexpected bills or expenses during school and also builds a cushion to help prepare for life after graduation.

• Practice Mindful Spending: Understanding common financial mistakes to avoid (and how to fix them) is critical for learning how to responsibly manage money.
  

• Stay Financially Savvy with our Dollars and Sense Blog: 

  • Why Newly Minted College Students Should Prioritize Finances
  • Preparing for Adult Finances: A College Student's Guide
  • Paying for College: Financial Tips and Resources for Every Student

Tools to Help You Budget and Build Credit Responsibly

Peach State has the tools you need to help budget for college costs and build good credit in the process. Here are some tools to help with paying college expenses and planning for the future.

• Peach State’s eXtreme Checking Account
  
  • Has no minimum balance requirement and comes with the Debit Card that C.A.R.E.S. 
  • Get cash anywhere in the country with our vast ATM network and conduct in-person banking transactions through CO-OP Shared Branching. 
  • Offers access to digital banking tools that are great for tracking spending, avoiding overdrafts, paying with your phone, and locking/unlocking your debit card.
    
    
•  Student Platinum Rewards Visa Credit Card
  • Helps build credit when used responsibly for small, regular purchases like gas and books.
  • Earns rewards, has emergency card replacement, no annual fee, no penalty APR, and so much more!
  • Encourages mindful spending – which means you should never spend more than you can afford pay to off each month.

• Fun Ways to Save

  • Accept a 52-Week Money Challenge.
  • Use a budgeting app or a printable tracker.
  • Try themed no-spend weekends.
  
  

Avoid Hidden College Costs with Tips and Tools from Peach State

Peach State is here to help our members in any way we can, and that includes planning for college costs as well as for life after college. From well-planned budgeting templates to educational resources and banking products that fit your needs, we invite you to contact us today to learn how we can help you navigate the foreseen and unforeseen costs of college. 

1 Certain conditions apply.