Living on campus while earning your degree can help you save money on
Have you ever thought about how popping your bubble and living on campus while getting your degree can be more economical? It’s a question that dozens of students consider as they plan their course of study. Even though off-campus living may appear as a more attractive choice, is this option worth the potential financial strain on our students? So, with that preamble out of the way, let’s look at how on-campus living can help your pocket book.
Realizing the Actual Expense of Living Off Campus
When I first thought of moving off campus, the temptation of independence was great. But soon I discovered that there are hidden costs to living off-campus. Not only is rent due, but utilities, internet, groceries and transportation need to be considered too. These expenses can accumulate so quickly that students find themselves spending more on off-campus living than they anticipated.
In contrast, on-campus housing typically bundles all of those amenities into one payment. This arrangement is handy for budgeting and can lower total cost of ownership as well. Universities charge a flat rate for housing, meaning no unexpected bills or financial stress. These remain silent costs, which many students do not include in their calculation at the moment of decision, but regret later.
Cutting back on travel costs
This will save you money on transportation, too, because when you live on campus, you can just walk to classes. And with academic buildings, libraries and dining halls only a short walk or bike ride away, a car is rarely needed. If you live off campus, that could mean spending money on gas, parking permits, public transportation, or even affordable ride-sharing services.
When I lived on campus I didn’t have to arrange commuting at all. I saved that cash that would have gone to gas and parking and redirected it toward personal expenses and entertainment. It also saved me precious time by not being caught in traffic or waiting for public transport. Plus, I got to walk to class every day, which helped me with my exercise and health.
Meal Plans: Their Convenience and Cost-Effectiveness
Living on campus has its perks, one of which is meal plans. Indeed, campus dining halls usually offer a range of options for meals and can be less expensive than grocery shopping and cooking your own meals. When I lived on campus, I had a meal plan that included breakfast, lunch and dinner. However, eating in allowed me to save.
When you live off campus, groceries are expensive, and cooking takes time. Also, if you don’t plan your meals well, you may find that you’re throwing food away. A meal plan relieves the hassle of cooking, cleaning, and food waste while providing healthy food.
Access to Included Amenities
Campus housing often includes free or low-cost amenities you’d probably be paying for off campus. Many university dorms feature amenities such as:
- Fitness centers
- Study lounges
- Wi-Fi
- Recreational facilities
- Laundry services
When I lived on campus, the gym and study lounges were available for use every day, saving me money on a gym membership and co-working spaces. Additionally, I had access to high-speed internet for free. These extras made my life more manageable without breaking the bank.
On-Campus Resident Exclusive Financial Aid and Scholarships
In fact, living on campus while you pursue your degree could save you money because of certain financial aid opportunities only available to you. Some universities offer scholarships and grants that are just for students who decide to live on campus.
My college scholarship landed me a subsidized housing placement that cut housing bills by 80% during my time there. Many students underestimate these opportunities, but they can really make a difference. And if you’re eligible for on-campus housing assistance, check with your university’s financial aid office.
Improved Focus and Support in Academics
Living on campus offers convenience when it comes to accessing academic resources, including:
- Libraries
- Tutoring centers
- Study groups
I discovered that living on campus kept me more immersed in my studies and linked me to valuable resources, which raised my academic performance. Off-campus students encounter challenges to studying:living in a noisy environment where studying may be difficult. Living in dorms promotes the academic and supports their success.
Free Networking Without the added expense
This is all helpful here at home as you often need to network here with your friends through clubs and social events. Such activities are usually free or heavily subsidized for pupils.
However, taking part in these events helped me establish a solid business network at zero expense. I networked with professors, guest speakers and prospective employers at campus events, which led to internships and job opportunities later on.
Had I been living off-campus, I would have likely missed these relationships out of the fact that I was not on campus that often. The another massive advantage of living on-campus is the ability to network and make relationships.
All-Inclusive Costs = Easy Budgeting
Managing multiple bills and due dates is one of the greatest challenges of off-campus living. If you live on campus, your rent, utilities, Wi-Fi, and other costs are wrapped into one bill. This simplifies budgeting and avoids unpleasant surprises.
When I went off-campus in the later part of my college career, I found myself juggling rent payments, electricity bills, internet subscriptions, and grocery shopping all at once. I needed to manage spending more, and if I missed a due date, late fees applied. Thus, living on campus removes these financial headaches allowing students to budget effortlessly and carelessly.
On-Campus Jobs Opportunities
There are thousand of on-campus jobs offered by many universities, such as:
- Library assistants
- Resident advisors (RAs)
- Teaching assistants
- Campus tour guides
- Dining hall staff
These jobs are convenient, and students can work without worrying about long commutes. During my time as a resident advisor, I was given free room and board as well as a stipend, saving me thousands of dollars a year. If you want to save money while attending college, finding a job on campus is an effective way to achieve that goal.
Safety and Security Benefits
Residence hall life offers enhanced safety and security that could save you money in the long run. Campus security guards, emergency call stations, access control to dorms I always felt safer on campus than I did in my apartment off campus, where break-ins and theft were frequent. Students living off-campus may need a security system or renters’ insurance, which can increase the cost of their lifestyles. It can take away all of these worries and offer students a safe place to stay.
Conclusion
By living on campus while pursuing your degree, you may face a more financially rewarding path. There are greater on-campus living benefits beyond just decreased transportation and meal costs or access to exclusive scholarships and amenities that make it an affordable and enriching aspect of your college experience. Based on my own experience I can assure you staying on campus is the most cost-effective decision and can make your life easier as well as more fun. As you think through your education, also think through the many benefits of living in an on-campus environment. It could simply be the solution to a more accessible and rewarding college experience.