You’ve reviewed the tuition statement, calculated the cost of housing, and even factored in a meal plan. But college costs don’t stop at the bill you get from your student’s university. For many families, it’s the unexpected expenses – the ones no one warned you about – that strain the budget and lead to awkward phone calls home (because let’s be honest, Mom and Dad, you’re probably going to end up paying for them). A survey by Citizens Bank found the 61% of parents report college expenses going beyond their expected budget, and according to the College Board, full-time students at public four-year colleges incur approximately $4,690 per year in indirect expenses like textbooks, fees, and transportation.[1]
Textbooks & Course Materials
Most people know that they have to account for the cost of books in their college budgeting, but textbooks are not the only non-tuition expenses. Course materials—not the textbooks themselves—often add surprise expenses. Required access codes, lab materials, or software can push costs into the high hundreds for each class. Some programs even charge subscription fees or software licenses that can’t be resold.
Tip for parents: Ask your student to confirm required materials before purchase, and explore rentals, used books, or library access.
Transportation: Not Just for Commuters
Even students living on campus need to move around—internships, grocery trips, visiting home. Education Data Initiative estimates transportation costs range from $1,250–$1,850 per year depending on distance from home.[2]
Smart prep: Add at least $1,500 to your annual budget, especially if your student doesn’t have a car. If you are a drivable distance, find other local students for your child to carpool home with for the holidays.
Everyday Essentials Pile Up
From laundry detergent to printer ink, power strips to snacks—the small consumables add up fast. It is not difficult to spend hundreds of dollars each semester on necessary supplies.
Plan ahead: Set aside $40–60/month for dorm supplies and daily living items.
Social & Campus Activities Drain Budgets
Club dues, event tickets, late-night meals, or small weekend trips quickly become expenses you didn’t plan for. Getting involved on campus can make the college experience special, but those campus activities and student organizations’ costs can be a budget surprise.
Tip: Communicate expectations early about social spending and encourage smart choices.
“Surprise” Costs You’ll See Often Enough
Lost student IDs, damaged electronics, parking tickets, and software access fees crop up more often than you think. Peterson’s blog shares a story of a parent whose daughter’s laptop died right before school—and cost $1,800 to replace.[3]
Bottom line: Encourage your student to maintain a small emergency fund—$20/month goes a long way.
What Parents Can Do
- Ask colleges for their full “cost of attendance,” not just tuition and room/board.
- Budget $3,000–$5,000 per year for indirect costs beyond tuition.
- Encourage your student to open a simple emergency savings account. Even $500 provides a buffer.
- Make budgeting a shared exercise—planning together, taking responsibility, and facing surprises as a team.
College costs more than the sticker price—and it’s the indirect expenses that often deliver the real financial punch. With thoughtful planning, clear communication, and realistic budgeting, parents can help protect their student — wise spending, smooth semesters, and a college experience without surprises.
Did You Know?
Your employer sponsors this financial wellness benefit from Francis. The benefit connects you with down-to-earth financial planners who educate and advise on any money matters…without the sales pitch. We are exclusively engaged by employers like yours and have no investment products to sell, so you can feel confident that you will always receive objective advice.
Your financial planner will help you set priorities and achieve your money goals, without judgment or financial jargon. Know that all discussions are kept strictly confidential. This service is offered as an employee benefit with no per-session co-pays, so you can meet with a financial planner as often as you wish. Services are paid by your retirement plan or your employer.
Connecting with a financial planner is easy! Here’s how:
- Visit FrancisWay.com > Services > Participant Portal
- Call (866) 232-6457
Download the free mobile app (Search for Francis LLC)
[1] College Board. Trends in College Pricing and Student Aid 2024. College Board, 2024, https://research.collegeboard.org/media/pdf/Trends-in-College-Pricing-and-Student-Aid-2024-ADA.pdf.
[2] College Board. Trends in College Pricing and Student Aid 2022. College Board, 2022, https://research.collegeboard.org/media/pdf/trends-in-college-pricing-student-aid-2022.pdf.
[3] Fenton, Marjorie. Parents: Plan for Unexpected College Costs. Peterson’s, 17 Aug. 2017, www.petersons.com/blog/parents-planning-for-unexpected-college-costs/?utm_source=chatgpt.com.
