Coffee and Cash: Pricey Dorm vs Buying a Home
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Coffee and Cash: Pricey Dorm vs Buying a Home
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Welcome back to another episode of Coffee & Cash! Over the past thirty-or-so years, we’ve seen college tuition, housing costs, and food prices soar. Tuition costs may be out of our hands, but as parents of college students, there are a few options to control living expenses. On average, during the 2020-2021 school year, students spent over $11,000 on room and board at public four-year institutions. At private nonprofit four-year colleges and universities, the average cost goes up to over $13,000. To save (and sometimes make) money, some families choose to skip the dorm and buy a home for their college-aged child instead. In today’s episode, we’ll cover the pros and cons to purchasing a home for your college student to study and sleep in, rather than investing in a dorm.
If you have any questions about your financial future, please feel free to give us a call at (518) 406-5624 or book a free consultation through our website at www.simmonscapitalgroup.com. Don’t forget to subscribe for more educational videos like this one. See you next week!