It can be tough to determine whether it is best for you as a student to live in on-campus housing or elsewhere off-campus. One of the most important factors is the financial cost of the different living quarters. There are advantages and disadvantages of living on and off campus financially. Here are a few to think of when making the right decision for you.

ON-CAMPUS HOUSING: ADVANTAGES

No rent, security deposit, or utilities

Tuition is typically due in full by a certain date early in the semester, which includes room and board in the total owed on the bill. This means students living on campus do not have to worry about month-to-month living expenses, which can take a lot of pressure off when it comes to keeping a job or running low on funds.

Free Laundry

Laundry rooms are inside most dorms where students can wash clothes free on their own time. This saves money on a water bill or having to go to a laundromat. Although laundry rooms can get busy with multiple students having to share, saving some cash can be worth it in the long run.

Free room transfers

In apartments, there are a few to change units if you are unsatisfied, but in dorms, the housing staff will try to accommodate your needs by letting you move within the same building for free. Of course, if you try to switch to a room that costs more, there will be a requirement to pay the difference, but housing departments aim to satisfy students the best way they can.

ON-CAMPUS HOUSING: DISADVANTAGES

Usually more expensive

The total cost to live on campus is usually higher than off campus. The student fees and the dorm cost can add up. It will be good to break down the total for room and board on campus and compare that to rent and utilities to see which option is best for your personal budget.

More food purchases

A lot of dorms don't have full kitchens and also prohibit appliances like hot plates for safety, so there are a limited amount of options for food students can prepare on campus. This can cause students to have to go out and purchase more of their favorites from restaurants.

No privacy

There is known to be less privacy in on-campus housing between roommates, RA room checks, school policies, and just so many other students living in the same building. That said, it can be costly to find some alone time by traveling home or doing other activities to feel a sense of privacy.

OFF-CAMPUS HOUSING: ADVANTAGES

Cheaper overall living expenses

There are good deals on student apartments near colleges that would make a good home. Even some traditional living-style apartment complexes in college towns are more on the affordable end. Pretty much everything you need will be in your home and would require less to enjoy it.

Gives rental history record

Paying your rent on time gives you a good start on some rental history that can be beneficial after graduation when trying to relocate for your career. This could save you money on a deposit since you have a good track record of renting.

Refund money can be used for rent

Since campus living is paid separately from university fees, the student will receive a larger refund check after their account expenses are taken care off since housing was not apart. That money can be used to pay your rent early.

OFF-CAMPUS HOUSING: DISADVANTAGES

Have to spend more on travel expenses

Being on campus puts students within walking distance from all events and amenities the campus has to offer. Living off campus will require students to drive more, spend more on gas, or order Uber and Lyfts.

No free wifi

One major perk to being on campus is the unlimited free wifi. You're on your own to obtain internet when you live off campus, giving you another monthly bill. Wifi is necessary to do homework assignments and even watch tv, so the internet will likely be another investment.

More household items to buy

A dorm is pretty much fully furnished and comes with the necessary household items to get you started. There can be lots of appliances and furniture that do not come with living off campus that are necessary for comfortable daily living. You will have to invest in what you need to make your space yours, which can add up.