Descriptive chart showing the cost of college from a community college to a four-year private university broken out by tuition and fees, room and board, books and supplies, transportation and other expenses:
Important discussion points:
- These are “sticker prices” for colleges; like many consumer goods, colleges discount, so one should focus more on “net costs (which account for financial aid)” vs. “sticker price.”
- Regardless of what type of school you attend you will have significant living expenses (room and board), roughly $8,000 to $11,000 per year.
- Plan on spending at least $1,000 on books; be sure to search out other low-cost alternatives.
- Ask the students what the approximately $2,000 in “Other Expenses” might be.