On or off campus? There's no dorm
like homeBy Pat
Curry • Bankrate.com If you have a student headed
off to college, you already know tuition, fees and books are only the starting
point of the expenses. In fact, at some schools, living expenses can outweigh
the actual educational costs. At
the very affordable University of Georgia, in-state tuition and fees for a full-time
student are about $4,600 a year, while the cheapest dorm room and meal plan would
run almost $5,900 for the academic year. That's a bargain, though, compared to
the current fees at Harvard, where tuition and fees run a tad over $30,000, and
room and board will tack on another $9,260. The benefits of
campus housing are in quality and convenience, says Jeff Pittman, president of
the National Association of College Auxiliary Services. "It
may not be the Ritz, but campus housing generally is neat, clean and safe,"
he says. "But the real value is convenience. You pay your residence fee and
everything is covered for you."
For many starting freshmen, the question of whether
to live on or off campus is answered for them, since they're required
to spend their first year in a dorm. Many universities make this
requirement because they feel it helps students get the full college
experience. What's more, they report, students who live on campus
have higher grade point averages than those who commute to classes.
It's certainly true that students
who live on campus have more access to the social activities that a college offers.
All they have to do is open their door to find plenty of people to talk to, and
veteran students report that eating in the dining hall is a great way to meet
new people. However, if ever there were a topic that defied
pat answers and average costs, this is it. The costs vary so widely depending
on the school, the location and personal preferences (do you need tanning beds
or would you be over the moon with just having your own bedroom?), it's pointless
to try to provide any numbers as a guideline. And the decision
very often is based on the many intangibles. But it's helpful
to look at the expenses you'll have for the two options and then create your own
cost comparison based on your specific school. Here are the major factors to consider,
and which option has the upper hand. Space
Advantage: Off campus. Dorm rooms have never been known for being
spacious, and it's the desire for more space, quiet and not having
to share a bathroom is often what drives students to check the classifieds
for a place off campus. Strictly from a per-square-foot equation,
private apartments can be a real bargain, especially with a roommate.
Monthly payouts
Advantage: Even. While most dorms win out for not requiring a security
deposit, off-campus housing earns points for being able to pay by
the month instead of having to pre-pay each semester.
Don't forget, though, that college students usually go to
school for nine months a year; leases are generally for 12 months. If you're getting
financial aid, it's based on a nine-month budget, says Madelene Aponte, director
of student financial services at Mercy College in New York. "You need to
be more of a planner than the average freshman would be coming right out of high
school," she says.
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