Trying to save as much money on college as possible? One of the easiest ways to do college on the cheap is commute while continuing to live at home.
I know, this doesn’t sound particularly fun. College is supposed to be about leaving your parents (and possibly friends) behind, becoming independent, and making important discoveries about yourself along the way.
While that’s true, you can still have a great college experience while living at home. If keeping your college expenses as low as possible is a priority for you, then you should consider it. here’s why.
You Save Thousands on the Cost of Room and Board
As someone who personally chose this route for college, I speak from experience. My parents graciously allowed me to continue living with them rent free while I was in college (I paid once I graduated), and I was able to graduate which much less student loan debt than I would have otherwise.
Let’s compare – my fiance went to a state university, which was cheap by most standards. He graduated with at least $10,000 more in student loans than me, and that was largely because he had to pay for a meal plan and a dorm room.
According to CollegeBoard.org, room and board costs ranged from $7,705 to $11,188 for the 2014-2015 school year. To put that in perspective, I graduated with $18,000 in student loan debt – purely tuition from attending a private college for 3 years (I went to community college for one).
You might be able to get a better deal by going with off-campus housing in your later years, and splitting the cost with roommates, but nothing beats free if your parents allow it.
You Can Continue Working Easily
I’m not saying it’s impossible to work if you go away for college, but it is easier to work when you’re staying in one place.
I got my first job in my senior year of high school and continued working there throughout my first year of college, until it was shut down. After that, I found another job nearby. I didn’t live near a “college town,” so there wasn’t as much competition for jobs.
In contrast, my fiance managed to find a job while he was in college working for a grocery store. Unfortunately, due to its policy, he technically had to quit during breaks between semesters. Transferring from one store to another for such a short period of time was discouraged.
Thankfully, it ended up working out for him, but I’ve heard similar stories from others. Not knowing whether or not your job will still be there upon returning to college can be unnerving, not to mention if you want to earn money during the summer, you’ll have to spend time applying for jobs.
Being able to work throughout college saves you a lot of money if you can put your money toward your student loans while in attendance. Paying them down as soon as possible means saving on the amount of interest you’ll pay.
Transportation Might be Cheaper
I say might because it depends on how far away you are from home while in college. If you want to visit back home during the semester for a holiday break, you’ll have to figure out a way to get home cheaply. In some cases, you might have to fly, take a train or a bus, carpool with others, or have your parents pick you up.
Either way you put it, going back home while in college can be a pain, and it can be costly.
I do have to mention that, depending on your situation, you might actually end up paying more commuting to and from college. I lived 5 minutes away from campus, so my commute was minimal. If I used a tank of gas a month, that was a lot. However, I knew other people who commuted an hour or more each day just to get to class.
Of course, you can always try and group your classes together on certain days, or find a friend to carpool with.
You’ll Save By Living at Home
If you choose to live at home while attending college, the only expenses you’re going to have are tuition, supplies, and possibly transportation. If you take online classes offered through your college, you might be able to get away with having no commute.
Again, this isn’t an option for everyone. I still met great friends who I hang out with to this day, even though my college was a commuter college. There were no dorms on campus at all, but we had a close-knit community.
Your college experience is what you make of it, and it’s important to be happy with your decision. Weigh the value of what you’re getting for your money carefully when considering whether or not to go away to college, and consider applying for financial aid like scholarships and grants to lessen the burden.
How did you save money on college costs? Do you have any regrets about the college experience you had?
Erin M. is a staff writer at EverythingFinanceBlog.com, a blog dedicated to every topic related to personal finance. We talk about investing, saving, budgeting, and more. Follow us on Twitter, Facebook, and Pinterest.
