Estimating Expenses for University Students in the USA Discover everything...
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Estimating Expenses for University Students in the USA
Discover everything you need to know about theExpenses for University Students in the USA
Introduction
Studying in the US is prestigious, interesting and expensive especially for students coming from non-financially stable countries. It's time to figure out how much money you need for studying in the US and for living there as well. The cost of an education can reaches to extremely high sums, especially in privately universities, but here we are talking about expenses for food, housing, transport, clothing, and entertainment. Unfortunately, you should always track the prices of your expenses since some of them are updated every year. There are also several 'hidden' costs in living and studying in the US such as health insurance, visa and passport, telephone and internet, and maybe others depending on the university and the city where it is located. The following article will demonstrate the average expenses of a student, keep in mind that the value will vary depending on the life-style.
Housing and accommodation
Student housing can be rather costly. Housing costs will significantly depend on where you go to study. In some parts of the country, you can pay as little as $100 to $200 a month for a private room in a shared apartment, while in other areas, even a small dormitory room can cost you $800 to $1,000. Those students in the dormitory usually share a room with at least one other student. Moreover, living in the dormitory takes away some flexibility and privacy that some students might want to have, as most of the rules will also apply to you. That is why many students choose to live outside the campus.
Many foreign students prefer to take a single room in a shared apartment, which costs $400 to $700 a month on average. Of course, if you take an apartment by yourself, it will be more expensive, ranging from $600 to $1,000 a month. In some places, housing costs are so high that students choose to live in youth hostels during the time it takes to find a more sustainable solution.
Food and Groceries
This is a difficult category because all of us eat something. Students who do not already know how to cook before coming will likely pay significantly more. If students eat out or buy prepared meals instead of cooking, the expense increase will be very large. Cooking will reduce the expenses a little, but not that much. When it comes to food and groceries, there are a few ways to save money. The most important thing to consider is that you should not buy from quick restaurants or vending machines because they are really expensive. Pack your lunch and while doing your grocery shopping, choose the cheapest place to buy food. Always look for a sale. Using coupons on a weekly basis and collecting points can make your wallet bigger, and you can use the extra cash for enjoying time with your friends.
Stay away from high-fat foods and buy as many fruit and veggie snacks as possible. Use the water fountain for lots of drinks; try to consume as few sugary drinks as possible. The average amount spent by students on groceries vary from 200$ to 470$.
Transportation
Keep in mind that the estimate for this item of the budget depends on individual circumstances: whether a student lives in a dormitory, apartment, or private house.
Of course, living the dormitory would cut off the cost significantly since transportation isn’t needed. Students who are living outside the campus would pick the most convenient and cheap method, the bus.
On average the cost for bus ride is 137$ per month.
Some students may rent a car, this might be above budget for many and the expenses followed by car renting is extremely high compared to a bus ride.
Bills such as Phone, Internet, Water.
Bills such as phone, internet, water, electricity, gas, and other routine expenses are often overlooked by students during budgeting, which quickly make their arrival unannounced. Also, monthly bills add up, sometimes amounting to more than half of a monthly budget and should therefore be considered.
Building amenities such as security, telephone, air conditioning, water, and internet may or may not be included in the accommodation monthly rental price. If such expenses are covered by the accommodation, then you shall save up to 150$. You will only need you monthly phone and data subscription which varies from 20$-50$.
Entertainment
Social Life. You just can't come to the country and overlook its entertainment. Movies, sports activities, etc., can make a hole in your pocket. Unavoidable expenses that you may consider paying in advance include tickets for popular events, membership at the local club or fitness center, and class participation. The establishments you intend to visit with friends may also have extra activities that you will be happy to support. Common students spend around $150 a month on fun activities.
Additional Expenses
No matter how well planned your budget is, at first you will find some items that pops out of the blue. All of these expenses are higher in cities such as San Francisco, New York, and Chicago and lower in other less expensive cities and towns. Clothing consists of casual clothes, professional clothes, accessories, and laundry. Health includes prescription drugs, non-severe medical bills, co-pays, and other miscellaneous things that arise. Miscellaneous is anything not included on the other lines. Document fees are the costs associated with lost IDs or meal cards and replacement room keys.
Conclusion
In conclusion, a variety of college expenses should be considered in addition to tuition and fees when estimating yearly expenses. These include education-related expenses such as books and supplies, room and board, and personal expenses such as transportation, clothing, laundry, entertainment, and household furnishings. Each element of expense will have a significant impact on the amount of financial aid that will be offered to a student and the net amount required. The financial aid decision, in conjunction with the expenses calculator, is an important tool for each family to evaluate their ability to pay the cost for the student. It will only serve as an estimate of expenses for planning purposes.
