When it comes to your non-school expenses, who is paying them — you or your parents?
As you head off to college this fall, it might be a good idea to talk it over with your parents and make sure you're on the same page about which bills you'll pay and which bills they'll pay.
If you're just starting to take on some responsibility for your finances, it will be an eye-opener to learn just what it costs to keep you afloat. You may not have any idea about all the costs included in owning a car or renting an apartment. Your parents will definitely appreciate your asking about it!
Here are some of the biggies to think about:
- Cell phone
: Are you still on your parents' plan or will you be getting your own plan? If you're on a "family plan" with your parents and siblings, take some time to look over the bill and maybe talk with a representative to make sure you've got the most cost-effective features. And think about the future: Will you be using more minutes/texting once you're away at school? Don't wait for a big bill to get things organized. - Rent/utilities: Rent might be something you can pay on your own. But if your parents are shouldering your share, maybe you can afford to take on some of your utilities. Once you split these among your roommates, they usually aren't too bad. Plus it will be good training for the future — you might start thinking of ways to save energy if you're facing the bill each month.
- Car expenses: Even if your car is paid for, there are still plenty of expenses that go along with it outside of gas — insurance for one. If your parents are paying your car insurance, you can help them out by getting good grades. Insurance companies sometimes give a "good student" discount , so have your parents look into it. Don't forget about oil changes, registration fees and general repairs. Even if you can't afford to help pay for all these things, you should know what they cost — someday all these expenses will be yours.
- Personal items/expenses (food, clothing, haircuts): Again, if you're just starting to pick up some of your own expenses, this might be a good place to start. Most of your personal expenses are things you can control, so it will help you learn to discipline your spending — you'll be more inclined to shop for bargains or eat within your meal plan when the cost is coming out of your own pocket.
When it comes to your college expenses, what things are you paying for?
If I applied for a loan and was turned down can I get a co signer and try again
Anonymous – It depends on the details of why you were denied. Were you offered the opportunity to bring a cosigner on to your application when you were denied? Why don’t you contact us with some more information through our Ask the Expert tool (just click the link on the right-hand side of the page), and we can look up the details of your application.