Calculate your costs of college

 Video (3 minutes, 45 seconds)

Tuition might be the biggest cost you face, but it’s not the only one. You may also have to pay for room and board, books, transportation, health insurance, and of course, your living expenses beyond those basics.

Your Cost of Attending (COA) may be different from what your college says.

Colleges are required to show an average Cost of Attending, also known as COA. But remember, that’s an estimated average of all students going to that school. You could wind up paying much more than the listed COA, or sometimes less. So it’s good to figure out what your individual costs might be, at each school you’re applying to. The video and worksheet available on this page can help you do just that.

 

Use our College Cost Worksheet to figure out what each of your choices will cost you.

It's smart to compare the potential costs of each of your options, and our downloadable worksheet can help you do just that. Even if you don't know the exact answers just yet (and of course, they're only estimates), this spreadsheet will definitely help you picture what your expenses may be.

Download the College Cost Worksheet

Transcript

How to estimate the real cost of attending a college

Do you know your COA – your Cost of Attending College? Schools put an average COA on their website, but it’s really just a starting point. That’s because no two students or their COAs are the same, even at the same school. Your COA could be pretty close to the average, but it could be way higher or way lower. And since we're talking big money here, even for state schools, you really need to know what your COA will be. Remember our mantra: the best college for you is the one you can afford. But you'll need to make a decision pretty soon after you get your offers, so let's stop wondering and get packing.

 

1. Know your major college expenses

Four years of tuition is a given for everyone. So is room and board, even if you eventually move off campus. Those are usually your biggest expenses. And they’re the first place an average COA can get a little misleading, because between loans and scholarships and work study programs and grants, students at the same school can pay wildly different amounts. You'll see what you're working with when you get your financial package. That's when you need to ask yourself two key questions: Can you comfortably afford this school right now? And can you afford it if the tuition goes up? Because – spoiler alert – it will.

 

2. Consider the costs of books, laptops and living on campus

Before you even go a step further, you need to weigh the pros and cons. And you should know that there are lots of other expenses that go along with going to college. Just think about it. No matter where you go to school, you have to buy books and other required course materials. Those can easily run $500 a semester or more. And you need a laptop, you can't forget that. Plus, if you decide to take a course with a lab or field trips or even an art course, you'll need to pay fees or buy special materials. And don't forget there are lots of cool things to do in college towns, but they probably aren't all free. So go ahead and factor that in, because you won't want to be stuck in your room while all your friends are out having fun.

 

3. What will transportation cost you?

And speaking of being stuck, how far away is this dream school of yours? Because between getting there in the fall and getting home in the spring, there are lots of breaks in the school year – and you'll probably want to go home for some of them. Oh, and if you'll be going to school in a different climate, you'll want to budget for clothes and activities that fit the weather. Last thing on the list: spending money – to buy, you know, the important stuff.

 

4. Be prepared for surprise expenses

Our site has a super easy spreadsheet to help you estimate what your personal budget might look like, but even with all that planning, stuff can still come up just out of the blue. Things break, or get lost, or need replacing. Hey, maybe you'll get lucky, but you should be prepared. Don't let a surprise make the bottom fall out of your plans. You need to get that budget sewn up. The whole point is to make sure that you can afford a great college experience for your whole four years, without too much debt to carry down the road.

It all comes down to knowing your personal COA before you pack your bags and go. But once you do, we know you'll be unstoppable! Check out the College Money Matters website for more great info on how to maximize your college choices and minimize your college debt. Just know we're here for you.