Jun 15, 2020 10:56 AM EDT
Unexpected University Expenses
Going to university is an important step in setting up your future. However, studying is not cheap. Once you've paid for the course itself, your room on the campus, your meal plan card, and your textbooks, you're probably living on the poverty line.
Guess what? There are some other expenses that you may not have considered. Here are some to watch out for.
Attending a university without a laptop is like leaving your house without any shoes. It's a vital piece of equipment. Computers aren't always that cheap. Remember, you get what you pay for. If you're going to be using it a lot, have to keep it switched on for a long time, and require a lot of storage space, you'll need to fork out more than you might expect.
You may have to pay for an internet connection, a router, a printer, and other components. Find out how many of these services the university provides, then go shopping.
Clubs and Societies
One of the best things about attending university is the new friends you'll meet in the various clubs and societies available on the campus. Attending these isn't free. You may have an initial joining fee, coupled with bespoke clothing, activity days, trips, overnight stays, equipment, and other charges.
Before joining, check out what all of these could add up to. It may be the difference between jumping in or walking away.
Failed Subjects or Course Changes
Not every subject is an easy pass. You might struggle with one and find that you'll need a do-over. You may also decide that this course isn't right for you, and you switch majors. If you're lucky, all your credits can transfer. If not, you're up for more fees.
These are other added expenses. Unless your family has committed to covering all your tuition fees (including changes), this could set you back quite a bit. Be sure the decision you make here is the best one financially.
If you're attending a campus in another state, you may not be prepared for the weather changes. As this can change significantly from place to place, you might be in for a surprise.
For example, if you live in Florida and are used to hot sunny days, then you go and study in Washington state, you're going to need wet-weather gear and a lot of it! Do your research on the place you're going to live and buy all the additional clothing you'll need to see you through all the seasons.
Many university students have a part-time job to help cover their expenses. This is a great idea. However, not everyone remembers that you may need to pay tax on your earnings. This figure includes extras like tips. Click here to find ouToronto Tax Lawyert what you might need to cover in your assessment.
Ensure that you pay the correct amount of tax, so you don't have any surprises when April comes around.
Finally, you've done it! 4+ years of study have all led to this day. However, you now need to pay for gown rental, tickets for your family and friends to attend the ceremony, transport costs, meals, storage space, the list goes on.
Prior to this milestone day, ask questions to find out all of the expected costs, so you'll be well prepared in advance.
Before embarking on this epic new part of your life, do as much research as possible. Prepare yourself for added expenses along the way. Technology, club activities, and course changes can cost a lot more than you expect.
Paying tax on your part-time job, buying seasonal clothing, and the massive outlay for graduation all need to be taken into account before you start university. Plan well in advance, and you won't have too many surprises later on.
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