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Should I live at home, on campus, or off campus?

Living on or off campus – Which is better for you?

Should I live at home, on campus, or off campus?

Before deciding on room and board options when attending college, it may help to itemize and project expenses. These expenses will vary depending on whether you will commute from home, stay on campus or rent an apartment off campus. Use this calculator to help determine whether living on or off campus is better and to see the costs associated with these alternatives.

Assumptions

help

Expenses

At HomeOn CampusOff Campus
Cell phone ($)
Clothing ($)
College activity fees ($)
Computer equipment ($)
Entertainment ($)
Food (meals) ($)
Food (snacks) ($)
Furnishings (one-time) ($)
Furnishings (monthly rental) ($)
Health (insurance, copays, prescriptions) ($)
Housing (cable) ($)
Housing (renter’s insurance) ($)
Housing (utilities) ($)
Housing (rent) ($)
Housing (one-time deposit) ($)
Internet access ($)
Laundry ($)
Memberships (gym, sports, etc.) ($)
Parking fees ($)
Personal (haircuts, household items, etc.) ($)
Telephone ($)
Transportation (gas) ($)
Transportation (insurance) ($)
Transportation (maintenance) ($)
Transportation (payments) ($)
Travel expenses ($)
Utilities deposit (one-time) ($)

This information may help you analyze your financial needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. The calculations do not infer that the company assumes any fiduciary duties. The calculations provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results.


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Disclosure: Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment, tax, or legal advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

 
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