As a college student, you have to balance between the social fun life and the studies part of it. Society expects a lot from you, and you most definitely expect much more from yourself. And truth be told, finances have a lot of say in how your college life plays out.

Before choosing the exact institution to go to, you have to budget and try to understand how much it’ll cost throughout your stay at the school. The good thing is that collages have already broken this down for you – tuition fees, meal plans, accommodation, books, the like.

A Lot More

But you do know that sustaining a college life takes a lot more than this, right? Truth be told, there are costs that we never budget for, most probably we think of them as miscellaneous expenses. However, they can add up pretty quickly and before you know it, you’re broke.

Have you thought about your parking permit yet? Thought so. It may cost you quite the bucks especially if your institution is in a city whose parking fees are already on the higher side. At Drexel, students pay $1,539 per year, or $531 per quarter. You admit that that can strain your budget, no? Students at Seattle’s University of Washington, on the other hand, have to pay $1,215 per year.

You’ll have to fork out some cash for parking

If you’re looking for an internship, be ready to dig deep into your pockets if you want the college credit. All this, and you’ll be overworked and underpaid, or worse, unpaid. Most colleges consider the internship period a semester on its own, so you have to pay “fees” for it. If you get a small stipend, lucky you. If it’s unpaid, that’s some extra headache right there.

All colleges have a health insurance plan, one that you get enrolled on as soon as you’re admitted. However, it doesn’t come for free. Business Insider reports that these plans cost a student between $400 and $1,900 annually.

But as it turns out, not many students end up needing the insurance. Did you know that the law allows you to be on your parents’ plan till you’re 26? Colleges have insurance standards that have to be met, and if your family’s plan meets these, then you certainly don’t have to pay for the one at school.

If you’ve wanted to go Greek since you were little, be ready to pay for it. In addition to housing costs that have to be paid up each semester, your sorority or fraternity of choice will definitely have a host of activities lined up, and they won’t come cheap.

Joining a sorority won’t come cheap

Summer and Storage Units

A few months ago, you must have been really looking forward to the summer break. But did you think of where you’d leave all your stuff? Because carrying them home is never an option. For most students, storage units seem to be their go-to place, but since they have to be rented out, that’s some expense.

You need a place for all your stuff during summer breaks

In Indianapolis, storage units go for $63 monthly. However, in more populous urban centers like LA or Boston, you’ll have to pay significantly more, say $140 each month. How long is a summer break again? Do the math.

In as much as these expenses may seem huge, they don’t come close to the interest on student loans. At a rate of 5%, you end up paying so much more than the exact amount you borrowed. But it’s college and we have to attend, right?