Finance Globe

U.S. financial and economic topics from several finance writers.
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Can College Students Really Save by Living Off Campus?

As a college freshman, it is safe to assume that you are living in one of your school’s dormitories. That being said, you are probably looking forward to the day when you can break free and live on your own in an off campus house or apartment.

While the freedom of living off campus may be what you are truly looking forward to, here is something else to consider: you can save a lot of money by making this move.

Here are a few of the many points to consider as you compare your options and attempt to make a decision on where to live in the future:
  • Campus housing can cost almost as much as tuition, which could mean more student loans and/or money coming out of your pocket. When you opt to live off campus, you can search for a living arrangement that affords the opportunity to save.
  • You are no longer paying for things you don’t want or need, such as a meal plan. Instead, where you live and what you eat are decisions you can make on your own, based on your personal financial situation.
  • The more roommates you have the more money you are going to save. Even though living alone may sound like a dream come true, when you have at least one roommate you will find yourself saving a lot of money.

So, what is the verdict? Can college students really save by living off campus? With the information above, you should have a better idea of what goes into making this decision as well as which steps you can take to save.

The best thing you can do is compare the total cost of off campus living to on campus living. From there, the bigger picture will become clear and you will find yourself in position to make an informed and confident decision.

Money can be tight as a college student. You might as well do everything you can to save.
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Friday, 23 August 2019

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