Welcome to the Recruiting Help Center.
Here you will learn all the basics and have the resources to take the first steps in the college recruiting process.
University Expenses
In this article, we discussed the cost of universities. You now also know what the cost of attendance means.
But how much is your scholarship covering? And what can you expect to pay yourself? And are there any other expenses I need to account for before I start my college adventure?
Understanding out-of-pocket expenses and what to expect is crucial for student-athletes and their families to be prepared and avoid financial stress. Let’s dive in.
We refer to out-of-pocket expenses as expenses that aren’t covered by a scholarship or other financial aid.
If you receive a 70% scholarship to cover the cost of attendance, there is 30% that you need to cover yourself.
However, often ‘hidden’ costs are not included in the total cost of attendance, such as flights, recreational activities outside of the campus, and so on.
It’s crucial to have an overview of the expenses you can expect, so you can start making a budget for each year.
As we’ve learned in this article, the cost of attendance is the total cost of going to the university, including housing, meals, and insurance.
When you receive a scholarship that covers 70% of the cost of attendance, you’ll have 30% out-of-pocket expenses. Let’s use an example to explain this.
Total cost of attendance at the University of Delaware
In this example, the total cost of attendance per year is $54,964. This includes tuition and fees, housing, meals, and indirect costs (such as books and insurance).
If you receive a 70% scholarship at the University of Delaware, you will pay the other 30% yourself.
Total out-of-pocket expense: $54,964 * 30% = $16,489 per year.
Things like transportation costs, flights, mobile data, and recreational activities are often referred to as ‘hidden expenses.’ This is because they aren’t shown on a university website but will be part of the expenses during your college adventure.
It depends on the student and their lifestyle and how much you need to budget monthly for these extra expenses. However, it’s important to think about it so you can plan accordingly.
If you need help understanding your out-of-pocket expenses, we are here to help you. With our own experience and hundreds of athletes helped, we know what you can expect when it comes to budgeting and finances.
