Tips for How to Save on College-Related Expenses

Funding a college education is a major expense for any family, yet there are many ways in which students and parents can cut corners on college-related expenses such as books, food, and travel once their son or daughter is on campus. Here are a few of our favorite frugal tips.

Books: Have you priced a college textbook recently? A basic introductory textbook can cost $100 or more, so cutting corners in this area can reap great savings. A recent eco-friendly trend that also happens to be economical is renting textbooks. This is an attractive option if you don't feel you need to keep the textbooks because they are in a field that doesn't align with your future academic or career goals. The number one textbook rental company is Chegg.com. They advertise fast delivery and easy returns, along with a 30-day "Any Reason" guarantee in case you drop the course or change your mind about renting. If you are not happy with the quality of the book, Chegg will automatically replace it by the quickest means available. Limited highlighting in the book is allowed, but no notes may be written in it. At the end of the semester, simply return the textbook to Chegg using a free, prepaid shipping label they provide to you. Finally, a nice "green" dividend is that Chegg plants a tree for every book rented. Students can also sell textbooks to Chegg if they are in very good condition and if they meet certain criteria. Go to Chegg's website and type in the ISBN number of the textbook you wish to sell. They will tell you if they want to buy the book and at what price.

Another on-line company that purchases books is Cash4books.net. Their website is very user-friendly and is not limited to just college textbooks--they also buy a wide variety of fiction and non-fiction. Cash4books stresses, though, that most of the books they buy were published in 2007 or newer and that what they buy varies, depending on inventory, demand, and resale values.

Finally, for those students who prefer to purchase books outright, many college bookstores sell used books right alongside new ones, so get to the bookstore early for the best selection. Not all used books are created equal--some are heavily highlighted, marked up with notes, or just more tattered, so leaf through them carefully before buying. Amazon.com is a popular on-line source for purchasing books at a discount, but good deals can also be found on BarnesandNoble.com which offers free express shipping (delivery within 1-3 days) if you are a Barnes and Noble member. Even if you are not a member, they have free standard shipping on any order over $25. Barnes and Noble has kept up with the times by selling used textbooks (they claim to have the largest used textbook inventory on the Web and have a generous return policy), plus they also rent texbooks and sell downloads of books.

Food and Drink: Knowing your teen's eating habits is essential in choosing the best meal plan. The structure of meal plans varies from college to college, and some schools require that freshmen purchase a 21-meal plan, but most offer a variety of options from as few as 7 meals a week to 10, 14, or a full 21. If your teen is not a breakfast eater, then a 10 or 14-meal plan makes sense. Even if your child is a breakfast eater, she may not have time to hit the dining hall every day before class. In that case, stock up on granola bars, individually-sized boxes of cereal, and bananas or apples that she can store easily in her dorm room and grab on the go. At the end of a semester, talk to your son or daughter about how they are utilizing their meal plan. If they have a lot of unused meals, then consider downsizing their meal plan for the following semester.

Beverages are another item that can add up. If purchased individually, a bottle of water costs about $1.50. However, instead of your daughter buying a bottle of water or two every day from a vending machine or the campus snack bar, buy several cases of water that she can store under her bed. When purchased in bulk, a bottle of water often costs less than 25 cents. At two bottles a day, that's a monthly savings of $75--or $675 over the course of the school year! Since lugging a case of water across campus from the nearest convenience store is not practical, bring water with you when you drive her to school at the beginning of a semester or when you visit on parents' weekend.

Travel: One "hidden" cost of attending college is getting there and coming home again! It is a rite of passage for parents to load up the car and drive their children to college with all their "stuff." But what about fall, winter, and spring break? Your student should inquire early on whether the college sponsors chartered buses to main cities where much of the student body resides. Syracuse University, for example, organizes chartered buses to Boston, New York, Philadelphia, and Washington, D.C. for Thanksgiving break. Unlike their commercial counterparts, the buses make no stops other than for rest breaks. Students are dropped off in a central location in each city which also serves as the pick-up point for the return trip. Other private bus companies exist that may have hubs near your son's school. We have all heard of Greyhound, but have you heard of Bolt Bus? This new bus line with sleek orange buses features free Wi-Fi, extra leg room, and power outlets on all their buses. They service the following cities: Boston, New York, Philadelphia, Cherry Hill, Baltimore, Greenbelt (MD), and Washington, D.C. Bolt Bus prices their tickets very competitively and offers one ticket on each bus for a one-way fare of just $1.00!

Traveling by train is another option, but it is imperative to book seats early for those busy break periods when many other students are making the same trek home. Amtrak has a discount program specifically for high school seniors and college students. For a fee of $20, you can purchase a "Student Advantage Discount Card" which entitles you to a 15% savings on rail fares for a year. The only caveat is that a three-day advance reservation is required to receive the discount. (The card is also good for discounts at many other national retailers such as Target.com, AMC Theatres, Macys.com, and the Apple Online Store. Click here for a full list.) A round-trip rail fare from Philadelphia to Boston is normally $164.00, but with the Student Advantage discount, it costs just $139.40--a savings of $24.60. The money saved on that trip alone would more than pay for the price of the discount card.

Flying is often viewed as an expensive travel option, but it pays to shop around. Southwest Airlines often touts special rates between certain cities (recently, Southwest had a budget-friendly $49 one-way fare between Philadelphia and Boston). There are many well-known discount travel websites such as expedia.com and orbitz.com where cheap airfares can be found, but try searching a megasite like kayak.com which allows you to compare deals from hundreds of travel sites.

Finally, don't rule out good old-fashioned carpooling. You or your child may know of other students who live in your area and also attend the same college, so sharing driving duties with other parents is another possibility. Your son can also check out the bulletin board in his school's Student Center for postings by students who are looking for some gas money and company in exchange for a ride home.