Attending college means making some major investments. All students have to dedicate time and attention to each course, assignment and assessment. Money, of course, must also be invested to pay for tuition, room, board and other necessary costs.
If one of your children is about to start their post-secondary education or is already attending college, it is important to see the full picture when it comes to college student expenses. Beyond the upfront costs, there are plenty of other costs that can pop up. Budgeting for these needs and discussing them with your child can help you better manage the price of a university education.
Our video, “Budgeting for College Expenses Beyond Tuition,” looks at some of the less-obvious costs that go along with completing a degree.
Some expenses may not be immediately necessary, like an off-campus apartment or car maintenance and insurance. However, certain schools do not guarantee students on-campus housing throughout their educational career. And students in many majors have to take part in internships, experiential learning opportunities and similar requirements that are based off of campus. A car can greatly simplify the logistics of traveling to and from these obligations.
A strong understanding of the full cost of college goes a long way toward effective budgeting and a more stable financial future. The Comerica Bank Platinum Circle ® Checking account can support you as you deposit, save and spend money each and every day.
