Parents of college or university students have been warned, it is September very soon again. And you can feel that in the wallet. How do you finance your child’s study costs?
Your 13th month has melted like snow in the sun. And the end-of-year bonus … you will only receive it at the end of the year. In the meantime, the costs in the month of September are well on the increase, you would be crazy for less. How do you solve that? A few options.
9 tips to reduce university or college costs
There are many smart ways to pay less for your children’s studies:
- Study allowances for lower enrollment fees.
- Buy second-hand courses, furniture, …
- Gifts . With friends or family or in Facebook groups you will probably find things that others no longer need.
- Benefits for students . On presentation of their student card, young people receive a lot of discounts (public transport, sports, hobbies, food, etc.).
- Hunt for bargains . Buy in the sales, find discounts, go to sell out or have devices repaired instead of buying new ones. And for food there are solutions to save leftovers from the garbage.
- Group purchases . You can find group purchases for many products and services: energy, bicycles, vegetables, etc.
- Rent or borrow. Find what your student needs in the area or at specialized rental companies.
- Put your hands out of the sleeves . Go to work yourself to make furniture, curtains, … This saves you hundreds of euros. There are a lot of videos on the internet that show you how to do it or take part in workshops in your area.
- The student loan. A way to spread the costs of September over different months.
The cost of a year of university or college, a serious budget
cost of a year of university or college, a serious budget” />
A school year in higher education costs between 5,000 and 10,000 €. There are not only the direct costs such as the registration fee and course material, but also a lot of additional costs.
The direct study costs
The study costs are a serious bite out of the budget, money that you must pay immediately in September :
- The registration fee: between € 200 and more than € 800 depending on the type of education
- The course material and courses: estimated at € 300
Other costs at the start of the academic year
Unfortunately, the list of costs in September is not yet complete …
- The living and living costs when your son or daughter is in a room. In addition to the rent for the student housing, there is also the layout, the insurance, the rent guarantee …
- Tip for the stay: Living together is more interesting than an individual room.
- The material . Things like a computer are essential. For some studies (art, hospitality, medicine) specific material is added.
- Costs for public transport when your student commutes. Although an annual subscription is cheaper, you have to pay the amount in one go at the start.
- Travel by car . Your son or daughter may need a car themselves and that, even second-hand, costs a lot of money. And whether he or she uses your car or your own vehicle, there are always costs for fuel, maintenance …
- Make the calculation: Buying a vehicle is sometimes cheaper than renting a flat. Moreover, you can often pay off a car in several times, for example through a new car loan or a second-hand car loan.
- S port: also the subscription to the sports club must be paid in September.
All costs together accumulate to a few hundred, even thousands of euros that you have to pay at the start of the academic year. That is a lot of money to spend in one month.
Take your precautions: apply for a student loan before September
Even though we are doing it smart, in September there are always essential basic costs such as the purchase of a new computer, the rent guarantee and the first month’s rent.
Our tip : Do not make it difficult for yourself and spread your costs over several months. Request a student loan to pay the costs of your diligent students. You can pay off this loan in 24 to 36 months and the credit can be granted within the week .
Do a free online simulation to know what your monthly payment would be for a student loan in function of the chosen repayment duration.