How to Budget for College Expenses Beyond Tuition
Some universities waive tuition for families with incomes below a certain threshold. But you'll still need a plan to cover other costs.

Harvard University recently announced that undergraduate tuition will be free for families earning $200,000 or less beginning with the 2025-26 academic year.
The university joins a growing number of institutions that are expanding financial access to higher education for families who would otherwise struggle to afford it.
The Massachusetts Institute of Technology (MIT) and the University of Pennsylvania, for example, also offer free tuition for families earning less than $200,000.

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
The University of Michigan waives tuition and mandatory fees for in-state students whose families earn less than $125,000, and the University of Texas does so for families earning less than $100,000.
Many of these tuition-free offerings have strings attached, including state residency requirements (primarily for public institutions), full-time attendance and minimum grade-point-average requirements.
While a tuition-free education helps lessen the financial burden of paying for college, it doesn’t mean attending is cost-free, says Betsy Mayotte, president and founder of The Institution of Student Loan Advisors (TISLA), a website that offers free student loan advice.
Mandatory student fees, which typically cover certain administrative, service or activity costs, may not be included in the tuition waiver.
And housing, food, books, health insurance, transportation and child care might not be part of the aid package, so families have to budget for those expenses, Mayotte says.
These non-tuition expenses can add thousands of dollars to annual attendance costs. At Harvard, for example, undergraduate tuition is $56,550, but the total cost of attendance is nearly $83,000, with about $26,000 for non-tuition expenses, according to the university’s website.
College expenses outside of tuition
It’s a good idea to create a comprehensive budget that accounts for college attendance expenses outside of tuition. These may include:
- Housing and meals (on or off campus)
- Textbooks and course materials
- Computers and other technology needs
- Local transportation costs
- Health insurance
- Travel expenses to visit home
- Club or activities fees
- Personal expenses, such as clothing and household items
Most universities publish these estimated expenses on their websites to help families budget for their all-in costs.
You may be able to reduce the costs by applying for work-study opportunities and external scholarships that cover non-tuition expenses.
Your high school counselor can help you identify scholarships you qualify for, or you can look up options at CareerOneStop.org, the Department of Labor’s online scholarship search tool.
Even if your tuition is covered, fill out the Free Application for Federal Student Aid (FAFSA) form to see what other financial assistance you qualify for, Mayotte recommends.
Federal student loans can provide a safety net in case tuition-free coverage changes unexpectedly or you no longer qualify for it, she adds.
Note: This item first appeared in Kiplinger Personal Finance Magazine, a monthly, trustworthy source of advice and guidance. Subscribe to help you make more money and keep more of the money you make here.
Related content
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
Personal finance journalist, communicator and content strategist who writes and edits for impact.
-
The 401(k) Mistake That Could Cost You Millions in Retirement Savings
Thinking about reducing your 401(K) contributions in the current market? Here are six reasons why you may want to reconsider.
-
What the HECM? Combine It With a QLAC and See What Happens
Combining a reverse mortgage known as a HECM with a QLAC (qualifying longevity annuity contract) can provide longevity protection, tax savings and liquidity for unplanned expenses.
-
The 401(k) Mistake That Could Cost You Millions in Retirement Savings
Thinking about reducing your 401(K) contributions in the current market? Here are six reasons why you may want to reconsider.
-
I'm an Insurance Expert: Yes, You Need Life Insurance Even if the Kids Are Grown and the House Is Paid Off
Life insurance isn't about you. It's about providing for loved ones and covering expenses after you're gone. Here are five key reasons to have it.
-
7 Rules Frequent Flyers Swear By
From dodging long lines to avoiding bad coffee, these clever travel rules can help you save time, stay healthy and reduce stress every time you fly.
-
My Professional Advice: When It Comes to Money, You Do You
This is how embracing the 'letting others be' and 'learning to surrender' mindsets can improve your relationship with money.
-
Five Smart Moves for Retirement Healthcare: From HSAs to Medigap Policies
Unchecked health care costs in retirement could blow a hole in your savings. Here’s how to avoid that.
-
The High Price of Skipping Workers' Comp Insurance
Two labor and employment attorneys highlight the penalties (fines, reputation damage and even jail time) that small businesses risk if they opt not to carry workers' comp insurance.
-
Tax Rule Change Could See Millions Lose Health Insurance
The Kiplinger Tax Letter If current rules for the health premium tax credit (PTC), a popular Obamacare subsidy, aren't extended, 3.7 million people could lose their health insurance.
-
Why You May Want a Postnup
Even after you've said "I do," you can draw up an agreement to protect your assets.