Understanding the costs involved will help you make intelligent financial decisions while you’re in school. Here’s a rundown of some of the costs that you can expect.

1. Tuition

This number can be difficult to pinpoint. Depending on the school or program, tuition can be between $2,500 and $8,000 a year or more. Tuition may vary for different reasons.

• Program choice
  Some programs charge more than others so you might want to investigate costs upfront.
• Co-op
  Co-operative education programs usually last longer and cost more than regular full-time programs. However, the benefits of co-op programs may outweigh the higher costs—co-op students are generally paid for their work terms and gain valuable work experience.
• Class type
  The format of lectures, amount of lab time needed and number of teaching assistants may affect tuition fees.
• Other factors
  The school’s location (urban vs. rural setting), the type of institution, and the years of schooling required are other factors that can also influence costs.

Check out the Education Cost Calculator to develop a clearer idea of the tuition costs that might apply to your situation.

2. Student fees

Some schools include fees in tuition costs to fund certain services, clubs and events.

3. Living expenses

Rent, food, electrical, gas, telephone and Internet bills can make up a big chunk of the money you’ll have to pay out during school. For example, residence fees can be upwards of $8,000 (including a meal plan). This can double or, in some instances, triple post secondary expenses.

4. Books

The cost of books can influence the overall amount of money that you’ll need for school. Several options are available to you with regards to books.

• School bookstore
  Buying new books each semester can be an expensive choice, though you benefit from the most recent editions. 
• Second-hand books
  With the right amount of time and patience, buying used books can be a much less expensive alternative. Visit used bookstores or look for signs and pamphlets around campus advertising used books.
• Borrow books
  If you know someone who has taken the same course, simply ask to borrow the books.
• Buy books online
  You can get both new and used books online. But be patient: shipping may take a while. You may also want to see if you and some of your fellow students can negotiate a discount by buying your books together in bulk.