An Incoming Student’s Guide to University Fees

Whether you’re a U.S. student studying close to home or an international student arriving in the States for a semester overseas, knowing that you have your finances in order is key to alleviating study anxiety and ensuring you’re well-prepared to live comfortably away from home.

Getting started on your student budget means first identifying exactly what student fees you need to pay for, and what each sum covers. Here, we break it down.

Tuition and Academic Fees

Your tuition fees will generally cover your entire academic experience within your institution, from the cost of attending lectures and workshops to the university equipment and on-site amenities you’ll need to use. These fees help to keep your university running and ensure a high-quality education can be provided to you. However, they can vary hugely, with students often paying more for the prestige of saying they graduated from a particular college.

Tuition fees in the U.S. are relatively high compared to other parts of the world, and unlike the U.K., you’ll need to fund them yourself, whether through a private loan or your savings. Times Higher Education suggests that a typical four-year public college tuition stands at around $10,200 per year for in-state students, and $26,290 for out-of-state attendees. In comparison, private universities such as Harvard and Yale can cost $35,800 per year. Your choice of educational institution will determine the level of your student debt, so choose with confidence.

While the government doesn’t provide student loans as standard, it’s always worth looking into scholarships and grants that may be available to you, to help with the cost of your studies. Scholarship America’s site can help you find scholarships that you’re eligible for. You should also be able to find scholarship and grant information on the site of the specific college you’re interested in.

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Accommodation and Bill Costs

Outside of your tuition fees are your accommodation and living costs—that’s all the money you pay towards where you live and running your home, including fees for electricity, water, and internet. They’re not technically academic fees, but you’ll still need to consider them and factor them into your budget if you want to be savvy with your financial management.

Living expenses vary depending on where you live. On-campus dormitories can cost you anywhere between $5,300 and $8,100 per year, while the average apartment could cost you anywhere from $500 to $3,500 per month, depending on the state.

Bear in mind also that your college may have fees that are included, but aren’t immediately obvious. For example, many universities include “activity and facility use” fees, which are payable even if you don’t use said facilities or take part in the activities. The fee is intended to support the use of these facilities for all students, but for many people, having this non-optional fee added can be a frustrating shock. (At present, these fees cannot be waived, so be sure to budget for them. The issue is controversial and is currently the subject of petitions from students and education reform groups.)

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Additional Expenses

Of course, you’ll want to leave some room in your budget for social activities, as well as any trips or academic opportunities you’ll need to fund yourself. For example, a semester abroad can bring additional costs, so research your destination thoroughly before making arrangements.

Your time at university is about more than just your studies, and there’s plenty to be enjoyed in the way of social experiences. The good thing is, these expenses are within your control, and you can choose just how much or how little you allocate to this portion of your life. Just remember to set aside enough money to cover your bare essentials, like food and hygiene products, as these are costs you won’t want to skimp on.

An Academic Experience Worth the Fees

Studying is a considerable expense, and while your fees may be high, the cost is well worth it for the quality of education you’ll receive and the experiences you’ll have. Remember, staying financially savvy is key to getting the most out of your university education, so be shrewd when deciding where you’d like to study, and leave yourself plenty of time to make a detailed budget and save up any money you need.

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