Web sites and books with cost schedules usually contain basic categories of college costs. Of course there are the costs of tuition and food, books, supplies, and equipment needed for class, Mikuta said. But underestimated costs often include housing utilities, maintenance and basic rent. Food is another category that parents and students underestimate. They may have bought a meal plan that includes three meals in the dining hall, but a lot of socialization in college involves eating out, and maybe at odd times of the day.
Students spend a lot of money on food.
Mikuta said other categories students and parents need to consider include transportation costs, car payments, gas and maintenance. Clothing is another sometimes unexpected expense. Not only purchases, but laundry costs. Then, under the miscellaneous category, you have credit-card debt, interest on that debt and child care, if applicable. Watch out for credit cards Credit-card companies do solicit students, many who may not have had experience and may not realize the high cost of carrying a balance.