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College Costs You Should be Aware of

College Costs You Should be Aware of

At Choose It Right, we come across people all the time who have student loan debt yet they don’t fully understand what they specifically paid for.  This is standard across the board – most people look at room and board, as well as the tuition, without truly knowing the breakdown of the costs (many colleges have ways of incorporating the “extras” into your bill).  Here is an in-depth view of a few additional costs you may not realize you may be on the hook for during college.

    Mandatory fees – many colleges list “fees” on your bill however, they don’t specify where the money specifically goes. This could include everything from costs for using the library, campus transportation, parking fees, class registration, use of athletic facilities, and printing. The good news is that you can seek out all of these items if you like, but you still have to pay for them whether you use them or not.

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How to Avoid Getting Buried by Student Loan Debt

Undoubtedly, many people go into the college application process with blinders on.  Meaning, it isn’t just about asking yourself whether you can get into the college or colleges of your choice.  The main question should be – can I truly afford it?  Accordingly, the best thing you can do before you choose a certain school is to know exactly what you are getting into, and how your financial future will look in light of your decision.  With this in mind, consider the following tips to help avoid the financial pitfalls that have left many students with life-altering debt for years to come:

    1)    Know all your costs upfront – college is not just about tuition.  It also includes costs associated with campus life, books, supplies, room and board, transportation, entertainment and a whole lot more.  These things can get extremely expensive, and lead people to keep borrowing more and more just to afford them.  This is not a trap worth getting yourself into; knowing all your costs upfront is the best way to determine whether you can truly afford a college or not.

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©2020 Choose It Right, LLC

      


©2020 Choose It Right, LLC