College room and board expenses now average $9,804 at public four-year colleges—more than the average cost of tuition itself, according to the College Board. That means where you live while earning your degree could have a greater financial impact than you realize.
While many assume that living at home or solo in a dorm is cheaper or more convenient, research and real-world data tell a different story. Let’s break down two essential strategies that can save you thousands—and even help you graduate faster.
Reconsider Living at Home: The Hidden Costs of Convenience
According to UCLA’s American Freshman Survey, 83% of students choose to live away from home, with 77% living in college dorms. Just 17% live with parents or relatives. While staying home might seem like a budget-friendly move, it can backfire financially and academically.
The Real Cost of Commuting from Home
Yes, living at home eliminates the need for dorm fees or rent. But studies show that students who commute:
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Are less involved on campus
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Miss out on crucial academic support opportunities
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Often attend school part-time
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Take longer to graduate—sometimes 5 or 6 years instead of 4
That extended timeline comes with extra tuition, lost wages from delaying a full-time job, and added living expenses.
Academic Engagement Suffers
Students who live at home often miss out on:
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Faculty office hours and impromptu academic help
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Study sessions with peers
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On-campus networking and leadership opportunities
These missed opportunities can result in a less enriching college experience—and lower graduation rates.
Choosing Convenience Over Fit
Many who live at home attend nearby colleges for convenience, not because they’re the best academic or financial fit. The end result? Higher costs and lower student satisfaction.
Bottom line: Living at home may seem cost-effective short term, but often leads to greater long-term expenses. Re-think whether it’s truly saving you money.
Don’t Go It Alone: The High Price of Living Solo
While many incoming freshmen crave independence and privacy, opting for a solo dorm or apartment can drain your college budget fast.
Why Roommates Are Financially Smart
Dorms and campus apartments often offer multiple rooming options. Here’s how shared housing saves you:
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Doubles: Cheaper than single occupancy
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Triples: Lower than doubles
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Quads or suites: The most affordable option
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Group discounts: Some colleges like Stockton University in New Jersey offer additional discounts (e.g., 15% off) for adding a fifth roommate to a four-person apartment
More Than Just Savings
Roommates also offer social and academic benefits:
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Built-in study partners
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Easier transition to campus life
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Enhanced communication and teamwork skills
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Shared responsibilities and emotional support
These perks extend beyond freshman year and can impact academic success and post-graduate career readiness.
Real Talk from Experts
Economist Lucie Lapovsky puts it simply: “I’m always flabbergasted by the people who say they can’t afford college, but can somehow come up with money for the single room or the highest-price dorm on campus.”
Let that sink in as you weigh your options.
Final Thoughts: Choose Smart Housing Over Status
College is expensive—but your housing choices can either help or hurt your bottom line. Avoid the temptation of a solo room unless absolutely necessary, and don’t default to living at home unless it’s part of a bigger plan that supports your graduation timeline.
Save smarter. Graduate sooner. And keep your college room and board expenses in check by making housing choices that support—not sabotage—your financial goals.
FAQs:
Is living at home during college really cheaper?
Not always. While you may save on rent, students who live at home often take longer to graduate, which increases total college costs.
How does living solo affect college expenses?
Living alone typically results in higher housing costs and eliminates the financial savings of shared utilities, rent, and other expenses.
Are there financial benefits to having roommates in college?
Absolutely. Shared housing reduces overall costs and often qualifies you for discounted rates in dorms or campus apartments.
What are the academic drawbacks of living at home?
Living off-campus can reduce campus engagement, access to professors, and participation in study groups or extracurriculars—all of which impact academic success.
How can I cut housing costs without sacrificing my college experience?
Opt for shared rooms, seek out housing discounts, and explore residence advisor roles or co-op housing that may offer free or reduced-cost accommodations.
