Fact vs. Fiction: Off-Campus Housing

Andy Lucking By | On July 19, 2017

We understand that it can be tricky navigating the world of personal finance. Everyone seems to have an opinion, and it can be hard to know what to believe.  Read our next myth regarding off-campus housing.

Fiction: Off-campus housing is the most budget-friendly option for college students.

Fact: Figuring out which living situation is the most economical requires some math and side-by-side comparison. The rent of an off-campus property may be less than an on-campus apartment, but living off campus may come with additional costs. Be sure your student’s rent budget covers key expenses such as utilities (if not included), food (which may be more costly if the student is not participating in the school’s meal plan), and transportation to and from campus. Another potential expense is renter’s insurance, which helps protect your student’s property in the event of fire or theft.