College Costs

Disclaimers

This page’s content is designed to be read as a general guide and not as authoritative or universally-applicable information.
This information has been reviewed by financial aid experts; however you should always review individual colleges’ or universities’ institutional financial aid rules, federal aid guidelines, and federal or private loan information yourself.

This page will help you to understand various terms related to college costs and what those costs normally entail.

There are many costs that come with earning higher education. The main terms you will want to get familiar with are tuition, room, board, and fees.

Tuition

Tuition is the cost of your instruction. Many colleges and universities have a “block rate” for tuition costs for an undergraduate degree (Associate or Bachelor’s degree) if a student is enrolled “full time” while students enrolled “part time” will pay by the credit hour. It is usually cheapest in terms of time and money to enroll as a full time student.

Full Time vs. Part Time Enrollment:
. . . A full time undergraduate student normally takes 12-18 credit hours per semester.
. . . A part time undergraduate student normally takes 11 or fewer credit hours per semester.

Block Rate: The cost of tuition is a set rate for a “block” of credits; traditionally the “block” is full time enrollment (12-18 credit hours), which means that the tuition cost will stay the same as long as the student remains full time.

Room

Room is the cost of your housing. Some schools may offer one single cost for housing, while others offer multiple types of housing for multiple price points. Note that to live on campus, students typically will need to enroll full time.

The easiest way to save money when attending a school with multiple cost options for housing is to choose the most affordable one – sure, the dorm may not have the latest bells and whistles, but that doesn’t change the courses you’re taking or the value of your degree.

Board

Board is the cost of your food plan. Some schools offer a standard board cost, while others have multiple dining options with different price points. Many schools require that students living on their campus have a meal plan (they can’t have students living on their property and going hungry, after all).

While you never want to skimp on food – especially in college when you are putting your mind and body through one of the most stressful and involved periods it has ever encountered – consider what you need and what you want. Get what you need, and get what you want only if you have money to do so.

If you decide to live off campus and commute to school, the school may have some cheaper commuter meal plans just for you too.

Fees

Fees vary by institution, and by degree. Common types of fees are Course Fees, Technology Fees, Activity Fees, Health Fees, Parking Fees, and at the end of your program you may pay Graduation Fees. Financial aid can often go toward paying mandatory fees.

Course Fees are costs that come with individual courses. These could be materials costs for courses like chemistry or biology which need specific items, or they could be access costs for online materials you need for the course, or they could be flight and fuel costs for aeronautics courses. Not every course will have a Course Fee, but be on the lookout for them – while Course Fees are usually not hidden, they can catch you off guard if you weren’t thinking about them.

Note about Course Fees:
Know what kind of degree you want, and do your research on its costs – while a psychology program may have Course Fees that add up to a few thousand dollars over the life of the program, it is very common for degrees in aeronautics to have flight and fuel costs which exceed six figures over four years.

Technology Fees are costs you pay for your school’s technology. Online learning platforms, computer labs, campus wifi, and tech support are examples of things that these fees usually cover. Technology Fees are often straightforward, standardized, and easy to understand. Printing charges may add up over the semester too, but they are often separate from a Technology Fee.

Activity Fees are costs you pay for on-campus recreation and events. At some schools, this covers campus recreation such as the gym, outdoor recreation, student events, concerts, and sometimes athletic events.

Health Fees are costs which go toward health services at the college or university. Some schools even make it so that your health fee covers your basic medical needs such as medical visits, routine checkups, and mental health services. Usually, extra items such as x-rays, vaccinations, laboratory tests, or medical transportation costs are not covered by these fees.

Parking Fees are costs you pay to have a vehicle on campus. Some schools don’t allow freshmen to bring cars to campus, while others do. Some schools have one parking pass for all parking lots with one cost, while others have multiple different parking passes for different parking lots which cost different amounts. Make sure to review your school’s parking and vehicle policies to ensure you don’t rack up tickets or get towed.

Graduation Fees are costs you pay when finishing up a degree, and are usually paid in your final semester. Graduation fees usually cover a comprehensive review of your account make that you have met all the requirements you need to graduate, secure your spot in your school’s Commencement ceremonies, and offset or cover the cost of printing and shipping your diploma.

Residential vs. Online

Choose carefully which kind of education you pursue – whether on campus (residential) or remotely (online) – as some degrees may be way cheaper to pursue online. Since you don’t have housing costs or dining costs when you’re doing school online, already you can cut out the cost of room and board (and likely much of the fees as well, since you won’t be on a campus). Online education is usually much cheaper than a residential education, but many students learn much better in a residential setting. Also, not all degrees are or can be offered online.