Just because you or your student gets into a free college or a college that offers a tuition waiver that doesn’t mean you won’t have to come up with some money out of your pocket. Some colleges, especially smaller and more exclusive free colleges, might cover all basic expenses, but there might still be some sizable expenses you’ll need to cover.

Parents and students considering this route should still take a serious look at what direct and indirect costs they could potentially incur. In addition to many of these programs not covering books (which can run $1,000 or more per year), most tuition waiver programs still do not cover room and board. Additionally, none of these programs cover the indirect costs associated with college, such as travel, clothing, or the income that is lost when a student stops bringing home a paycheck. If these costs are still going to be an issue, a student should look into financial aid options, especially federal student loans (see Chapter 5).