Congratulations on making it through high school! I’m sure you’re glad to be done with those four years and to be moving on to bigger and better places. It’s an exciting time where you’re feeling some tinges of newfound freedom, and are probably at least a little bit apprehensive about going off to college. The few months you have between now and your matriculation into college will be a lot of fun, but there are some important items on your financial checklist that you’ll need to remember.

Finalize Your Freshman Year Financial Aid

Now is the time to review your financial aid options. You’ve probably decided on what school you’ll be going to, and as a part of that, you’ve seen your financial aid package. Review your package and see if there are any financial gaps. If your financial aid package doesn’t look like it will cover the difference between your family’s contribution (EFC) and the cost of attendance (COA), you should appeal the package, if you haven’t done so already.

If you have appealed and received a new package, but a gap remains, you need to examine your private student loan options. Here is where SimpleTuition can help: check out our Loan Comparison Tool to compare and apply for private student loans from top student loan lenders.

After you consider your aid package and student loans, don’t assume you’re finished with the process. Financial aid and student loans are very important considerations when it comes to paying for college, but are other important factors which will have an impact on the cost of attendance.

Prepare for Additional Costs

There are lots of costs associated with college that you probably haven’t thought about, and they could easily surprise you. Room and board is one of the most significant college costs, so you have probably given it some attention. What you might not know, however, is that the price of room and board is highly variable and adjustable depending on a number of factors. Let’s examine these factors, as well as costs that will be contingent upon the environment in which you attend school, and upon the school’s practices.

Cost of Living and Your College’s Setting

The location of your school will have a large impact on personal costs. For example, if you go to a school in the country, you’ll probably have significantly lower personal, entertainment-related expenses than if you attend a college in the city. If you’re going to school in a place like New York City or Boston, you will spend more money on environmental necessities such as subway fare, as well as dealing with an increased cost-of-living.

Room and Board

Housing costs will be much greater at city schools than at schools in the country. The high real estate prices in urban areas force colleges to increase their housing costs, which has a large impact on the high total cost of many colleges. To provide you with some financial flexibility, some schools provide housing options based on pricing. If your college offers this sort of plan, take advantage of it. A 10-minute walk to campus is worth saving $5,000 by not selecting a prime housing location.

There are a few other ways to defray the cost of housing. Some schools promise on-campus housing for a certain amount of time, but they don’t have enough dorms to accommodate all those students. One of campus housing authorities’ common solutions to this overcrowding problem is the forced triple. It’s pretty self-explanatory: the residential life people take a room that’s normally a double, and put a third person in it. Living in a forced triple is somewhat of a double-edged sword; on one hand, you’re pressed for space, but on the other, you’ll most likely be given a discount on your housing bill. If you don’t mind being packed in to a dorm room with two other people, you can save a good amount of money this way.

Very few colleges guarantee on-campus housing for all four years, which means you’ll probably have to live off-campus at some point during your college career. This isn’t much of a concern for you going into your freshman year, but it’s something to think about and plan ahead for. Apartments, even in college neighborhoods, can be expensive, so start planning out your housing future now.

Meal plans are another important consideration when you prepare to go off to college. Some schools require certain meal plans for incoming freshmen. Other schools will allow you to choose your plan before each year, with a variety of options. No matter what plan you’re on, the bottom line is that food is expensive. These costs add up, so be sure to consider them not only when you make your decision or before you matriculate, but before the start of every year.

Do Your Homework

Before you get caught up in the flurry of graduation parties, start spending every waking minute with your friends, and fly through senior summer, make sure you pay attention to your financial checklist. Know the costs of the college that you’ll be attending, both those included in the COA and personal expenses. From room and board to personal expenses, there are a huge variety of costs associated with going to college that you need to be prepared for. Do your homework now, or you’ll be caught unprepared when you arrive on campus in the fall. As always, check out SimpleTuition for all kinds of information on college costs and how to afford it all. Congratulations, and enjoy your summer!