For DonorsFor Applicants

How Much Money Do College Students Spend per Month?

Written by Jaeme Velez
Updated: June 12, 2024
10 min read
Deadline9 days left to apply
Create Free Account

The opinions expressed in this article are the author's own and do not reflect the view of Pathward®.

College students are no strangers to the constant juggling act of academics, social life, and personal responsibilities. With so much on their plates, it's no wonder that managing finances can often pose a challenge.

When trying to understand how much money students spend per month, it becomes essential to dive into the various expenses they face on a regular basis. From tuition fees to everyday necessities, every dollar counts. In this blog, we break down and shed some light on average college student expenses.

Join now! Find no-essay scholarships easily and earn rewards with the Bold Visa®Debit Card.*

What Are College Student Expenses?

Tuition and fees stand out as the major expenditures. As higher education and costs continue to rise, students find themselves grappling with the burden of hefty tuition bills. In addition, the cost of textbooks and educational materials can weigh heavily on a student's budget.

Housing and accommodation costs also contribute significantly to the monthly cost of students attending school. Whether they live on-campus in dormitories or off-campus in rental apartments, the cost of a place to call home can really add up.

Living on campus offers convenience and a sense of community, but it often comes with a higher price tag. Campus pays for dormitory fees, including the cost of the room, utilities, such as electricity and water, as well additional expenses, such as maintenance and cleaning services.

Additionally, some universities require students to purchase a meal plan covering their dining hall expenses. On the other hand, living off-campus can offer more independence and flexibility than the average college student, but it comes with its own set of expenses.

Apply for the Bold Debit Card today!
what are college expenses

Rent, utilities, and internet bills are just a few of the costs that students have to consider living off campus. They also need to factor in the cost of furnishing their apartment and purchasing household items like kitchen utensils and cleaning supplies.

Food and groceries are another significant chunk of a college student's spending. From dining hall meal plans to stocking up on snacks and cooking essentials, students must budget for their sustenance while trying to reduce expenses.

For students living on campus, meal plans are often mandatory, and for most college students, the cost of a college meal plan is included in their overall housing fees. These plans typically provide a certain number of meals per week, and students can choose from various dining options available on campus. However, some students may prefer to cook their own meals or accommodate dietary restrictions. In such cases, they need to allocate funds for grocery shopping and kitchen supplies.

Transportation costs also play a crucial role in a student's financial landscape. Getting around campus and traveling back home during breaks can involve costs like transportation fares, fuel, parking fees, and even car maintenance.

Many universities have extensive transportation systems within their campuses, allowing students to move around conveniently. However, if students need to travel off-campus frequently, they may need to rely on public transportation, which can incur additional costs. Students who own a car also need to consider the cost of fuel, parking permits, and maintenance.

Get Matched to Thousands of Scholarships

Create your profile to access thousands of exclusive scholarships, available only on

Create Free Profile

Personal and miscellaneous expenses encompass non-essential expenses and costs of living, everything from clothing and personal care items to entertainment and recreational activities.

College life often comes with social events and extracurricular activities, which may require students to spend money on tickets, memberships, or equipment. Additionally, students need to budget for personal care items like toiletries, laundry, and clothing. These can vary greatly depending on college students’  personal preferences, monthly income, budget, and lifestyle choices.

Understanding the various costs that college students face is essential for effective financial planning. By taking into account all these factors, students can create a realistic college budget that allows them to manage their money and make the most of their college experience.

Factors Influencing College Student Spending

Geographic Location and Cost of Living

The location of one's college significantly influences their expenditure patterns. The average living costs differ substantially, depending on whether the college student is in a vibrant city or a quieter rural setting. This difference impacts housing prices, travel costs, and even the average cost of day-to-day items.

For instance, students in big cities like New York City or San Francisco often encounter greater expenses than those in smaller towns or rural areas. The price of rent, food, and commuting is typically above the average college student budget in cities with higher living costs. Students in urban environments might need to devote a bigger portion of their budget to these essential costs.

Additionally, living costs can vary even within a different geographical region. Students in popular college towns might pay more than students in more secluded areas, who might find more affordable housing options, allowing them to economize on accommodation or spend their money on other things.

Lifestyle and Personal Choices

A student's individual lifestyle and personal choices play a crucial role in shaping their college spending habits. Activities like regularly eating out, attending concerts, or engaging in extracurricular activities all contribute to how much college students spend money. Those who lean towards a more economical way of living might choose less expensive options and focus on saving money.

For instance, a student who enjoys eating out at restaurants regularly may find that a significant portion of their budget is allocated toward dining experiences. On the other hand, a student who prefers cooking at home or packing their own meals can save a considerable amount of extra money just on food costs.

Extracurricular activities and hobbies can also have an impact on the college student's budget and spending habits. Students who participate in sports or clubs while attending college may need to budget for education-related expenses, equipment, uniforms, or membership fees.

Students who have hobbies such as photography, gaming, or music may need to allocate funds for equipment, accessories, or subscriptions related to their interests.

course related costs

The chosen course of study can also influence college costs and student spending. Some courses may require specific equipment, software, or materials that come with a price tag.

For instance, science or engineering students might have to invest in lab supplies, while art students may need art materials or cameras for their projects. Students pursuing degrees in computer science or graphic design may need to regularly update their software or purchase new technology to stay up-to-date with industry standards.

Part-time Jobs and Financial Aid

Part-time jobs and financial aid solutions can have a profound impact on a student's budget. Those who work while studying may have a higher disposable income to cover their costs. Also, financial aid packages can help reduce the burden of their student loan debt, tuition fees, and other educational costs.

Students who are able to secure part-time jobs can have more control over spending money on things such as entertainment or personal items, or it can be allocated towards essentials like rent or textbooks. The availability of part-time jobs may vary depending on the location, local economy, and job market of the geographic region of the college or university.

Scholarships, grants, and loans can also play a significant role in shaping a student's spending habits. Students who receive generous financial aid may have a reduced financial burden, allowing them to allocate more of their funds toward other priorities or save for the future.

On the other hand, students who have limited financial aid options may need to be more cautious with their spending and find ways to stretch their budget.

College students' spending is influenced by various factors, including geographic location and cost of living, family members, lifestyle and personal choices, course, academic year of study, and related costs, as well as part-time jobs and financial aid.

Understanding these factors can help students make informed decisions about their college spending habits and budget effectively during their college years.

Get Started with the Bold Debit Card

Earn rewards that help pay for school.* Apply for the Bold Debit Card today!


Managing Expenses: Tips for College Students

Now that we understand the various aspects of the average college student's spending, let's explore some practical tips to help students manage their expenses wisely.

Budgeting Basics for Students

Creating a budget is crucial for ensuring financial stability. Start by documenting all sources of income, such as part-time jobs, scholarships, or allowances. Then, list all necessary expenses, such as tuition, accommodation, food, and transportation. Finally, allocate a portion of the leftover funds for a savings account and discretionary spending.

When creating a budget, consider unexpected expenses that may arise during the semester. These potential expenses can include textbooks, school supplies, and emergency situations. By setting aside a small portion of your budget for these unforeseen costs, you can avoid financial stress and be prepared for any situation that may arise.

Another important aspect of budgeting is tracking your spending. By keeping a record of every purchase you make, you can easily identify areas where you may be overspending and make adjustments accordingly. There are numerous budgeting apps and tools available that can help you track your money and stay on top of your financial goals.

saving money on food and groceries

Saving on Food and Groceries

One of the easiest ways to save money is by finding ways to spend less on food and groceries. This can be done by cooking meals at home, using meal plans offered by the college, or purchasing discounted groceries in bulk. Additionally, taking advantage of student discounts and coupons can help to reduce costs.

When it comes to cooking meals at home, it's important to plan your meals in advance and make a grocery list. This will help you avoid impulse purchases and ensure that you only buy what you need. Consider meal prepping for the week ahead, as this can save you both time and money.

Another way to save on food is by participating in community events or clubs that offer free meals. Many colleges and universities host events where students can enjoy a meal together, and this can be a great opportunity to save while socializing with peers.

Cutting Down Transportation Costs

Transportation costs can be minimized by utilizing public transport options, carpooling with classmates, or even considering alternative transportation methods such as cycling or walking. By embracing these sustainable alternatives, students can reduce fuel and parking costs.

In addition to saving money, opting for alternative transportation methods can also have a positive impact on the environment. By reducing your carbon footprint, you are contributing to a more sustainable future.

When it comes to public transportation, many colleges and universities offer discounted or free passes for students. Take advantage of these opportunities to save extra cash on commuting to and from campus.

Reducing Housing and Accommodation Expenses

To lower housing costs, students can explore various options, such as sharing an apartment or renting a room with roommates. Additionally, opting for on-campus housing or living in a more affordable neighborhood can significantly impact your monthly budget.

When searching for housing options, consider several factors, such as proximity to campus, safety, and amenities. While it may be tempting to choose the most affordable option, it's essential to ensure that your living situation meets your needs and provides a conducive environment for studying and personal growth.

Another way to save is by taking advantage of student housing resources provided by the college or university. Many institutions offer affordable housing options specifically for students, which can help alleviate some of the financial burden.

Finding Affordable Educational Resources

Students can save on textbooks and educational materials by purchasing used books, renting them, online resources, or even borrowing them from the library.

Don't forget to utilize the resources available at your own school, college, or university library. Many college students' libraries have extensive collections of textbooks and educational materials.

By understanding and actively addressing the key expenses, students can achieve greater financial independence and security.

Start applying for scholarships! Thousands of applications are open for the upcoming school year!

college students budgeting

Frequently Asked Questions About How Much College Students Spend per Month

What are the typical monthly expenses for college students?

College students typically have expenses that include tuition, housing, food, transportation, textbooks, and personal items.

How can college students create a budget to manage their finances effectively?

Students can create a budget by listing their income sources and allocating funds for essential expenses while leaving room for savings and discretionary spending.

Are there ways for students to save money on textbooks and course materials?

Yes, students can save on textbooks by buying used books, renting, or utilizing online resources. Campus libraries may also offer resources for borrowing.

What factors should students consider when deciding between on-campus and off-campus housing?

Consider factors like cost, convenience, and amenities when choosing between on-campus and off-campus housing options.

How do part-time jobs and financial aid impact a college student's financial situation?

Part-time jobs provide additional income, while financial aid, including scholarships and grants, can reduce the overall cost of education and living expenses during your college experience.

Ease your student loan burden. Sign up at to apply for straightforward scholarships, and use the Bold Debit Card to help you pay for school. Visa® Debit Card is a demand deposit account provided by Pathward®, N.A., Member FDIC. Visa Debit Card is issued by Pathward, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. Card can be used everywhere Visa debit cards are accepted. Visa is a registered trademark of Visa U.S.A. Inc. All other trademarks and service marks belong to their respective owners. Register your Card for FDIC insurance eligibility and other protections.

*This product or service is independent of Pathward® and Visa and is neither endorsed nor sponsored by Pathward® or Visa.

Jaeme Velez
Content Writer

About Jaeme

Jaeme Velez is an exceptionally dynamic writer, researcher, and avid enthusiast for science and technology. He brings a deep understanding of securing scholarships, obtaining student loans, and navigating the transition from community college to university.

As a first-generation college student, Jaeme began pursuing the dramatic arts and made a significant transition to pursuing academic studies at L.A. Valley College, focusing on Communication and English. He graduated cum laude with a B.A. in Creative Writing at Columbia University in the city of New York. His academic excellence has been recognized through the Casdin Family Scholarship Award and his membership in the Columbia University Honor Society.

Jaeme's academic path is marked by a profound passion for literature and storytelling, particularly in exploring the confluence of diverse cultures and languages while addressing social disparities. Alongside his literary interests, Jaeme maintains a keen curiosity for science and technology, actively engaging in research and projects related to Artificial Intelligence, Design, and human-computer interaction.


Balancing work and full-time studies as a first-generation college student has endowed Jaeme with a wealth of experience and insights. In his role as a Content Writer at, Jaeme shares invaluable wisdom and advice, drawing from his personal journey to provide the guidance he wishes he had received at the start of his academic journey. 

His work is fueled by the desire to equip the next generations of students with the knowledge and tools necessary to navigate their unique academic paths. From financial literacy to maintaining a healthy lifestyle, Jaeme strives to contribute to the ongoing discourse on education and support the next generations of scholars, regardless of their age, background, or current stage in life, as they traverse the complexities of higher learning.

Since joining the team in 2023 as a Content Writer, Jaeme has employed his distinctive background as a first-generation student alongside his familiarity with scholarships and student loans to guide students through the intricacies of academic life, emphasizing that every student's journey is distinct and worthy of recognition. 

Through his writing and advocacy, Jaeme leverages his personal and professional experiences to provide comprehensive support to students. He is dedicated to empowering students and addressing the challenges they encounter in their pursuit of higher education. 

Quote from Jaeme

“Who is the person? What's their problem? Do your research. Offer solutions.”

Check out our Editorial Policy
Help Fight Student Debt
Share this article with your friends