When many people think of college expenses, they think of tuition, or the actual money paid to attend classes, but other costs include:

• Room and board: “Room” means a dorm room and “board” means a meal plan.
• Books: Some colleges offer the option to rent books or check them out at the library.
• Fees: There are things like student activities, technology, etc. that students must pay for.
• Transportation: Don’t forget to include the cost of driving, gas, parking or the bus (if these costs apply).
• Spending money and other miscellaneous expenses.

While college is expensive and planning is required to pay for it, the price that most families pay is rarely the listed or “sticker price.” Don’t rule out applying to any college based on price alone. You might be surprised at the financial aid it offers your student.

To estimate what how much financial aid your student may receive, you can go to the website of any college or university and find their net price calculator. Each of our colleges has a net price calculator or you can use the financial aid estimator provided by the Minnesota Office of Higher Education. Calculators provide a ballpark figure and actual awards will vary.

The college with the lowest listed price may not be a bargain in the long haul. Think about the amount you'll actually pay when financial aid is figured in.

Then consider graduation rates: is it likely that a student will graduate in four years? Graduating on time helps save money and allows students to start working — and earning — sooner.

Finally, consider the quality of the education a student will receive and how it will help begin a career and advance it later.