Where The Money Goes

Sydney Morning Herald

Saturday January 1, 2000

CATRIONA PURCELL

YOU KNOW where you are going to study, when classes start and what clubs you want to join - the question now is how are you are going to survive financially for the next three or four years?

Usually the biggest expense - after the up-front enrolment fee - is accommodation. What you spend will depend on the type of housing you choose. This can be divided into three main types:

* On-campus colleges, which are convenient but usually more expensive than off-campus residences because utilities such as electricity (and sometimes food) are included in the weekly charge.

* Off-campus accommodation that is owned and administered by the university and let out to students at favourable rates.

* Shared houses or private rooms for rental in the vicinity of the university which can be cheap but may involve setting-up costs such as bed, linen or refrigerator, depending on what is provided or what your fellow tenants already own.

Textbooks and equipment can also eat into the bank balance but there are options to help you avoid blowing a week's rent on new and expensive items. All universities have excellent libraries and usually put a copy or two of compulsory texts aside for reading in the library.

Most campuses also have a second-hand book exchange where students sell used textbooks 40 to 70 per cent cheaper than they would cost new. There are also second-hand bookstores around town that specialise in used texts and are worth checking out if on-campus stocks are depleted.

On-campus food can get dull and expensive, so unless your parents live close enough for you to head home for a home-cooked meal you should learn to cook. The other option is to visit the cheap food outlets often found near campuses.

If you live off-campus, you have to factor in travelling expenses. If you use public transport, consider a weekly discount ticket. If you insist on driving, remember to budget for parking (and parking tickets).

You might start with great plans to attend all lectures, finish assignments ahead of time and spend much of your free time in the library or studying at home, but the reality is you will want to play, so allocate some funds for entertainment.

Finally, if you see yourself descending into debt, seek help. Most student unions offer counselling services including emergency financial assistance and low-interest student loans, but remember, it is best to go to them before the electricity is cut off and you are evicted.