As a commuter student, you might be able to lower your college costs significantly, especially if you live at home with your parents. Although your transportation costs will likely go up, you won’t have to worry about paying for room and board on campus.
At the same time, you might feel like you’re missing out on some traditional college experiences, like dorm parties and football games. This reality could make some students feel disconnected and lonely, perhaps even leading to college commuter student depression or poor academic performance.
If you commute to campus and feel like your car and classroom comprise your entire world, don’t give up. Here are some ways to improve your circumstances, financially and socially:
- Budget for transportation expenses
- Schedule your classes strategically
- Immerse yourself in campus activities
- Build a rapport with mentors
- Don’t forget your parents
Commuter students may have cheaper college costs and lower student loans since housing and dorm expenses aren’t added to the price tag – but they’ve got their cars to contend with.
Parking registration costs can cost a small fortune at some colleges and universities.
Take the UC Irvine campus: Commuter students pay $75 to $94 per month in parking permit fees in 2020-2021. Assuming nine months of commuting to campus, that would add up to $675 to $846 per year.
Depending on how far away you live from school, you’ll need to incorporate gas, insurance and vehicle maintenance into your budget. Don’t forget the occasional street parking meter fees when you can’t find a spot to park in the commuter lot.
If you live closer to campus, find out if you can carpool with other commuter students, taking turns driving on certain days of the week. You might also check for nearby public transportation. Depending on the area’s infrastructure, an accessible rail or bus system can replace driving a car to class, at least on occasion.
Any class schedule configuration for a resident student is naturally going to be more convenient. If you have two classes in the morning, you can walk back to your dorm and catch some z’s before returning later in the evening for a class after dinner.
Commuter students aren’t so lucky. Unless you want to drive home after your 10 a.m. class just to come all the way back for your 7 p.m. lecture, you’ll be wasting time, energy and gas.
Or, you can save money on transportation costs — and your own time — by scheduling your classes together two or three days a week. Stacking them in concentrated time blocks can give you at least one or two days off from driving, more time to study and a better school-life balance.
Keep in mind that if your schedule doesn’t quite work out the way you’d like, there are still plenty of ways to make the most of your time if you’re on campus all day. Become a regular at your campus library and take advantage of the quiet atmosphere for studying or catching up on homework.
Finding a work-study position or other jobs on campus is another way to utilize the time wisely, since it can earn you money, reduce your tuition bill and possibly garner valuable experience needed after graduating.
If there’s one common complaint of a commuter student, it’s the lack of connection with the campus culture.
The resident students live on campus, so they have many opportunities to form friendships and live a somewhat independent, adult lifestyle. Conversely, commuter students can experience major “FOMO”, the recently coined colloquialism for the “fear of missing out”.
Fortunately, your school has a wealth of resources to choose from. Look into joining clubs, groups or student organizations you’re interested in and passionate about, and get involved in on-campus activities or sporting events.
Your school might even have a commuter student association, where you can meet other students who trek to campus every day. Stick with it; you may not make fast friends or hit it off with everyone, but keep engaging in campus events and you’ll find like-minded students.
Stay realistic about developing a social life, too. Living on campus isn’t one big party, as much as you like to think it is. Even resident students who live in a dorm full of people can have a hard time fitting in and finding their niche.
As a commuter, you have the chance to step back and approach college life in a more autonomous way, but you may need to get outside of your comfort zone to avoid getting stuck in a home, commute, school and repeat cycle.
As a commuter, it can be hard to connect with your professors and advisors when you’re not a resident student who can pop on over to their department whenever you like.
Budget your time and schedule meetings with your teachers. Find out when their office hours are and schedule frequent check-ins with them to start building some familiarity. Ideally, every student — resident or commuter — should do this to foster a better relationship with their professors.
If you’re an undergrad, your student center may also be able to coordinate a mentor relationship, much like a resident student would have with dorm RAs. Having an older peer to talk to can help bridge the gap between commuter and resident students and make you feel more included in campus life.
If you’ll be commuting from home, you’ll need to devise some new living arrangements with your parents.
You and your parents should already be setting aside time to talk about the basics of college expenses and how you’ll pay for it. Use this as a chance to discuss everything from paying rent while living at home, contributing to bills, paying your own way when it comes to gas and transportation or buying your own groceries.
Opening a dialogue with your parents sets you up for true independence when you do move out to your own apartment. Sure, you might be just a bit envious of those resident students who seem to have it so much easier, but think about how much the responsibility will pay off in the end.
Lastly, talk to your parents about the prospect of commuting as early as you can. Are you commuting out of financial necessity? Is it a personal preference? Is it feelings of homesickness? What are your expectations, and theirs?
Ultimately, these are highly personal talking points that only you and your parents can solve. Make the most of your academic experience in college, keep your grades up and look to involve yourself in the campus culture in ways that suit you.
You’ll find that your time as a commuter student will give you unique perspectives and experiences, setting you up for post-grad success that can rival that of any resident student.
Plus, the money you save on room and board could mean way less student loan debt after graduation.
Rebecca Safier contributed to this report.
Interested in refinancing student loans?Here are the top 9 lenders of 2021!
|Lender||Variable APR||Eligible Degrees|
|1.87% – 6.15%1||Undergrad & Graduate|
|1.88% – 5.64%2||Undergrad & Graduate|
|2.50% – 6.85%3||Undergrad & Graduate|
|1.89% – 5.90%4||Undergrad & Graduate|
|1.74% – 6.59%5||Undergrad & Graduate|
|1.90% – 5.25%6||Undergrad & Graduate|
|1.88% – 5.64%7||Undergrad & Graduate|
|1.86% – 6.01%||Undergrad |
|2.13% – 5.25%8||Undergrad & Graduate|
|Check out the testimonials and our in-depth reviews!
1 Important Disclosures for Splash Financial.
Splash Financial Disclosures
Terms and Conditions apply. Splash reserves the right to modify or discontinue products and benefits at any time without notice. Rates and terms are also subject to change at any time without notice. Offers are subject to credit approval. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet applicable underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates are reserved for the highest qualified borrowers. If approved, your actual rate will be within a range of rates and will depend on a variety of factors, including term of loan, a responsible financial history, income and other factors. Refinancing or consolidating private and federal student loans may not be the right decision for everyone. Federal loans carry special benefits not available for loans made through Splash Financial, for example, public service loan forgiveness and economic hardship programs, fee waivers and rebates on the principal, which may not be accessible to you after you refinance. The rates displayed may include a 0.25% autopay discount
The information you provide to us is an inquiry to determine whether we or our lenders can make a loan offer that meets your needs. If we or any of our lending partners has an available loan offer for you, you will be invited to submit a loan application to the lender for its review. We do not guarantee that you will receive any loan offers or that your loan application will be approved. Offers are subject to credit approval and are available only to U.S. citizens or permanent residents who meet applicable underwriting requirements. Not all borrowers will receive the lowest rates, which are available to the most qualified borrowers. Participating lenders, rates and terms are subject to change at any time without notice.
To check the rates and terms you qualify for, Splash Financial conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, the lender will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.
Splash Financial and our lending partners reserve the right to modify or discontinue products and benefits at any time without notice. To qualify, a borrower must be a U.S. citizen and meet our lending partner’s underwriting requirements. Lowest rates are reserved for the highest qualified borrowers. This information is current as of June 1, 2021.
2 Rate range above includes optional 0.25% Auto Pay discount. Important Disclosures for Earnest.
Interest Rate Disclosure
Actual rate and available repayment terms will vary based on your income. Fixed rates range from 2.44% APR to 5.79% APR (excludes 0.25% Auto Pay discount). Variable rates range from 1.88% APR to 5.64% APR (excludes 0.25% Auto Pay discount). For variable rate loans, although the interest rate will vary after you are approved, the interest rate will never exceed 36% (the maximum allowable for these loans). Earnest variable interest rate student loan refinance loans are based on a publicly available index, the one month London Interbank Offered Rate (LIBOR). Your rate will be calculated each month by adding a margin between 2.04% and 5.8% to the one month LIBOR. Earnest rate ranges are current as of 6/8/2021, and are subject to change based on market conditions.
Auto Pay Discount Disclosure
You can take advantage of the Auto Pay interest rate reduction by setting up and maintaining active and automatic ACH withdrawal of your loan payment. The interest rate reduction for Auto Pay will be available only while your loan is enrolled in Auto Pay. Interest rate incentives for utilizing Auto Pay may not be combined with certain private student loan repayment programs that also offer an interest rate reduction. For multi-party loans, only one party may enroll in Auto Pay.
Student Loan Refinancing Loan Cost Examples
These examples provide estimates based on payments beginning immediately upon loan disbursement. Variable APR: A $10,000 loan with a 20-year term (240 monthly payments of $72) and a 5.89% APR would result in a total estimated payment amount of $17,042.39. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed APR: A $10,000 loan with a 20-year term (240 monthly payments of $72) and a 6.04% APR would result in a total estimated payment amount of $17,249.77. Your actual repayment terms may vary.Terms and Conditions apply. Visit https://www.earnest. com/terms-of-service, e-mail us at [email protected], or call 888-601-2801 for more information on our student loan refinance product.
Earnest Loans are made by Earnest Operations LLC or One American Bank, Member FDIC. Earnest Operations LLC, NMLS #1204917. 535 Mission St., Suite 1663, San Francisco, CA 94105. California Financing Law License 6054788. Visit earnest.com/licenses for a full list of licensed states. For California residents (Student Loan Refinance Only): Loans will be arranged or made pursuant to a California Financing Law License.
One American Bank, 515 S. Minnesota Ave, Sioux Falls, SD 57104. Earnest loans are serviced by Earnest Operations LLC with support from Navient Solutions LLC (NMLS #212430). One American Bank and Earnest LLC and its subsidiaries are not sponsored by or agencies of the United States of America.
© 2021 Earnest LLC. All rights reserved.
3 Important Disclosures for CommonBond.
Offered terms are subject to change and state law restriction. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900), NMLS Consumer Access. If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, the loan term selected and will be within the ranges of rates shown. All Annual Percentage Rates (APRs) displayed assume borrowers enroll in auto pay and account for the 0.25% reduction in interest rate. All variable rates are based on a 1-month LIBOR assumption of 0.15% effective Jan 1, 2021 and may increase after consummation.
4 Important Disclosures for Laurel Road.
Laurel Road Disclosures
All credit products are subject to credit approval.
Laurel Road began originating student loans in 2013 and has since helped thousands of professionals with undergraduate and postgraduate degrees consolidate and refinance more than $4 billion in federal and private school loans. Laurel Road also offers a suite of online graduate school loan products and personal loans that help simplify lending through customized technology and personalized service. In April 2019, Laurel Road was acquired by KeyBank, one of the nation’s largest bank-based financial services companies. Laurel Road is a brand of KeyBank National Association offering online lending products in all 50 U.S. states, Washington, D.C., and Puerto Rico. All loans are provided by KeyBank National Association, a nationally chartered bank. Member FDIC. For more information, visit www.laurelroad.com.
As used throughout these Terms & Conditions, the term “Lender” refers to KeyBank National Association and its affiliates, agents, guaranty insurers, investors, assigns, and successors in interest.
Assumptions: Repayment examples above assume a loan amount of $10,000 with repayment beginning immediately following disbursement. Repayment examples do not include the 0.25% AutoPay Discount.
Annual Percentage Rate (“APR”): This term represents the actual cost of financing to the borrower over the life of the loan expressed as a yearly rate.
Interest Rate: A simple annual rate that is applied to an unpaid balance.
Variable Rates: The current index for variable rate loans is derived from the one-month London Interbank Offered Rate (“LIBOR”) and changes in the LIBOR index may cause your monthly payment to increase. Borrowers who take out a term of 5, 7, or 10 years will have a maximum interest rate of 9%, those who take out a 15 or 20-year variable loan will have a maximum interest rate of 10%.
KEYBANK NATIONAL ASSOCIATION RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE.
This information is current as of April 29, 2021. Information and rates are subject to change without notice.
5 Important Disclosures for SoFi.
Fixed rates range from 2.49% APR to 6.94% APR with a 0.25% autopay discount. Variable rates from 1.74% APR to 6.59% APR with a 0.25% autopay discount. Unless required to be lower to comply with applicable law, Variable Interest rates on 5-, 7-, and 10-year terms are capped at 8.95% APR; 15- and 20-year terms are capped at 9.95% APR. Your actual rate will be within the range of rates listed above and will depend on the term you select, evaluation of your creditworthiness, income, presence of a co-signer and a variety of other factors. Lowest rates reserved for the most creditworthy borrowers. For the SoFi variable-rate product, the variable interest rate for a given month is derived by adding a margin to the 30-day average SOFR index, published two business days preceding such calendar month, rounded up to the nearest one hundredth of one percent (0.01% or 0.0001). APRs for variable-rate loans may increase after origination if the SOFR index increases. The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. This benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. The benefit lowers your interest rate but does not change the amount of your monthly payment. This benefit is suspended during periods of deferment and forbearance. Autopay is not required to receive a loan from SoFi.
6 Important Disclosures for LendKey.
Refinancing via LendKey.com is only available for applicants with qualified private education loans from an eligible institution. Loans that were used for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not eligible for refinancing with a lender via LendKey.com. If you currently have any of these exam preparation loans, you should not include them in an application to refinance your student loans on this website. Applicants must be either U.S. citizens or Permanent Residents in an eligible state to qualify for a loan. Certain membership requirements (including the opening of a share account and any applicable association fees in connection with membership) may apply in the event that an applicant wishes to accept a loan offer from a credit union lender. Lenders participating on LendKey.com reserve the right to modify or discontinue the products, terms, and benefits offered on this website at any time without notice. LendKey Technologies, Inc. is not affiliated with, nor does it endorse, any educational institution.
Subject to floor rate and may require the automatic payments be made from a checking or savings account with the lender. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is canceled, any increase will take the form of higher payments. The lowest advertised variable APR is only available for loan terms of 5 years and is reserved for applicants with FICO scores of at least 810.
As of 11/15/2021 student loan refinancing rates range from 1.90% APR – 5.25% Variable APR with AutoPay and 2.49% APR – 7.75% Fixed APR with AutoPay.
7 Important Disclosures for Navient.
8 Important Disclosures for PenFed.
Annual Percentage Rate (APR) is the cost of credit calculating the interest rate, loan amount, repayment term and the timing of payments. Fixed Rates range from 2.89%-4.78% APR and Variable Rates range from 2.13%-5.25% APR. Both Fixed and Variable Rates will vary based on application terms, level of degree and presence of a co-signer. These rates are subject to additional terms and conditions and rates are subject to change at any time without notice. For Variable Rate student loans, the rate will never exceed 9.00% for 5 year and 8 year loans and 10.00% for 12 and 15 years loans (the maximum allowable for this loan). Minimum variable rate will be 2.00%. These rates are subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.