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Money Matters

Cost of Living

As a student, you should know what expenses you will face and how you can make your money go farther. This section will help you answer questions like:

  • How much does it cost to be a student?
  • Do you want to attend a college, university or institute?
  • Are you going to live in residence or find off-campus accommodation?
  • How do you prepare a budget?
  • What are some other costs of living that you should be aware of?

It is no secret that being a full-time student is expensive. In addition to the costs of tuition and books, you will need to consider the costs of housing, food, transportation and entertainment, among other things.

It is important to plan on how you are going to pay for these expenses to ensure that you have enough money to live comfortably. The following chart gives you an idea of a single student's moderate standard of living.

Average Student Costs
for a Single Student Living Away from Home

Shelter (2 bedroom apartment with utilities) $650 /month Food $200/month Miscellaneous (personal & health care, clothing, household items, communications) $225/month Local Public Transportation $70/month Total Monthly Living Expenses $1145/month Multiplied by 8 months (1 academic year) $9160/year $4214/year $1,500/year TOTAL AVERAGE STUDENT COSTS $14,874/year
Plus the average cost of tuition - University
Plus the average cost of books & supplies

Note: 1 year equals 8 months or 1 academic year (September - April)

To determine more accurately what it will cost you to attend school and live comfortably, print off and fill in this student budget form.