Your Must-Have “My Student Is Off to College” Checklist!
Posted 29 Sep, 2009
Though you’ve already said a tearful goodbye as your student made the big move to the dorms, it takes more than just a tuition check and some new textbooks to get your family ready for this big new step. Each item on this Off to College Checklist will help you ensure that your family is on the right track!
- Review Your Homeowner’s Insurance. It probably seems like your student has taken half your household with him or her after the big move, so make sure all these goods are protected! Check with homeowner’s insurance policy to find out if your student’s belongings are still insured once they’re in the dorms. If your child is living off-campus, you might want to look in to renter’s insurance as well. If your homeowner’s policy doesn’t provide the coverage, you should be able to find inexpensive insurance for personal items at most colleges.
- Compare School and Personal Health Insurance. In some cases the school health plan can be a great deal, but it is important to review your current health plan and compare it to the one offered by your child’s school. Look at price points, deductibles, and coverage as a starting point. Also, if your child’s school is out of state, find out whether your family’s insurance will even cover him or her. If you decide to go with the school insurance, be sure to cancel your student’s coverage under the family policy. If you decide to stick with your family policy, don’t forget to sign the insurance waiver for school so you don’t get stuck with being charged for two insurance policies!
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Important: School insurance policies are often in effect only during the school year, which means your child may need separate health coverage during summer months. Be sure to check your student’s plan to find out!
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- Reconfigure Your Car Insurance. Call your insurance company and discuss the following:
- If your student is taking a car, discuss premium differences if the car stays on campus, and find out if they will still cover your child if his or her college is out-of-state.
- If your student is not taking a car, see if you can lower your rate by removing him or her from your policy. If he or she will be driving the car during breaks, find out if your insurance provider will allow you to get coverage for only those times when your student will be home.
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- Consider Re-registering Your Child’s Car. If your son or daughter is taking a car out of state, check the car registration rates in his or her new home-state. Many states allow students to register their cars in their school’s state, and you may find that registration fees in another state are lower.
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- Re-Allocate Your Monthly Budget. As you track your usual monthly spending, you may be able to free up money be re-allocating funds that once went to buying groceries and household goods for your now out-of-the-nest student. For example, rather than continuing to spend the same on groceries even with one less mouth to feed at home, consider adjusting your grocery budget to reflect one less person, and putting the “extra” funds towards your child’s college expenses.
All the best,
Deborah Fox
Deborah Fox is the founder of Fox College Funding®, a nationwide company that helps families find creative ways to reduce their college costs.
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Though you’ve already said a tearful goodbye as your student made the big move to the dorms, it takes more than just a tuition check and some new textbooks to get your family ready for this big new step. Each item on this Off to College Checklist will help you ensure that your family is on the right track!
- Review Your Homeowner’s Insurance. It probably seems like your student has taken half your household with him or her after the big move, so make sure all these goods are protected! Check with homeowner’s insurance policy to find out if your student’s belongings are still insured once they’re in the dorms. If your child is living off-campus, you might want to look in to renter’s insurance as well. If your homeowner’s policy doesn’t provide the coverage, you should be able to find inexpensive insurance for personal items at most colleges.
- Compare School and Personal Health Insurance. In some cases the school health plan can be a great deal, but it is important to review your current health plan and compare it to the one offered by your child’s school. Look at price points, deductibles, and coverage as a starting point. Also, if your child’s school is out of state, find out whether your family’s insurance will even cover him or her. If you decide to go with the school insurance, be sure to cancel your student’s coverage under the family policy. If you decide to stick with your family policy, don’t forget to sign the insurance waiver for school so you don’t get stuck with being charged for two insurance policies!
.
Important: School insurance policies are often in effect only during the school year, which means your child may need separate health coverage during summer months. Be sure to check your student’s plan to find out!
. - Reconfigure Your Car Insurance. Call your insurance company and discuss the following:
- If your student is taking a car, discuss premium differences if the car stays on campus, and find out if they will still cover your child if his or her college is out-of-state.
- If your student is not taking a car, see if you can lower your rate by removing him or her from your policy. If he or she will be driving the car during breaks, find out if your insurance provider will allow you to get coverage for only those times when your student will be home.
.
- Consider Re-registering Your Child’s Car. If your son or daughter is taking a car out of state, check the car registration rates in his or her new home-state. Many states allow students to register their cars in their school’s state, and you may find that registration fees in another state are lower.
. - Re-Allocate Your Monthly Budget. As you track your usual monthly spending, you may be able to free up money be re-allocating funds that once went to buying groceries and household goods for your now out-of-the-nest student. For example, rather than continuing to spend the same on groceries even with one less mouth to feed at home, consider adjusting your grocery budget to reflect one less person, and putting the “extra” funds towards your child’s college expenses.
All the best,
Deborah Fox
Deborah Fox is the founder of Fox College Funding®, a nationwide company that helps families find creative ways to reduce their college costs.
Subscribe in a reader
Subscribe by Email
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