There are the obvious costs of tuition, room and board and textbooks, but what other costs go into paying for college?
Elon has accounted in some ways for the extra costs of living. Patrick Murphy, director of Financial Planning, said the estimate for the costs of attendance is separated into two sections.
"One is the direct costs which is room and board, with a double room and All- Access (meal) plan, and then there are indirect costs, which are books and personal expenses," he said.
For the estimated cost of books, financial planning gets its estimate from the national average amount for books, and this year the average was set at $900.
Some students feel there are still extra costs surrounding books and class materials that are not accounted for in this average.
"There are online class workbooks and extra things like newspaper subscriptions that professors make you pay for in their classes," senior Sarah Alexander said.
Another indirect cost financial planning helps to account for is transportation. According to Murphy, because of the increase in the price of gas, its estimate has increased through the past few years, to up to $1,100 this year.
Murphy said the indirect costs of college are factored into financial packages, but it's not something the institution actually bills students for.
He also warns students to realize the extra costs of living. If students choose to go out to eat a lot and use transportation often, that will cost extra money.
The cost students are actually billed for is $36,971, but with the indirect and miscellaneous costs added in, the average cost for attending Elon is $40,471. Some students find the costs of living to be stressful.
"I didn't think about buying groceries, and I only bought the things I needed," freshman Emily Sanford said. "I only get a certain (allowance) of money a month, and now I have to make it the rest of the month with the money I have left."
Students have also complained about the added cost of doing laundry on campus.
Freshman Courtney Vaughn said she was surprised by how much money she realized she will spend on laundry throughout the school year.
"I feel like we are going to be spending hundreds of dollars on laundry by the end of the year," she said.
Murphy said this is why Elon bases financial aid packages on the higher estimate to account for the extra costs. Still, with all the resources financial aid has, the university isn't meeting all of a student's financial needs.
But Murphy reminds students that they can take out loans.
While these extra expenses can inconvenience students, from what Murphy has seen, the number of students that leave campus because of financial problems is very low, Murphy said.
"This year, even with the rough economy, our retention level has gone up," he said. "I think that speaks well of Elon that more students returned than (left)"