Buying a new computer for college is a big expense, but there are ways to lower your costs.
Purchasing Agreements
Before you rush out to your local electronics store, find out if your school has a purchasing agreement with computer companies. Purchasing agreements between colleges and computer companies can result in big discounts. “My best advice is to look at the schools first because a lot of computer companies work hard at putting educational programs together and pushing them through the campuses at individual schools,” says Barbara Pliska, manager of the computer store at Smith College in Northampton, Massachusetts.
Financing Programs and Loans
Check if your school offers special computer financing programs or loans. Financing and loan programs typically require students to buy computers through the college’s computer store, but they usually help ease the financial burden.
Financing programs allow students to pay for their computer in installments over the course of their time at school. At Smith College, for example, entering first-year students who use the financing program pay a certain percentage of the total cost upfront, then pay the rest back in installments added to their tuition bill each semester.
Technology loan programs are set up by some schools in conjunction with another lender. They offer reasonable rates on loans used to purchase computers. A technology loan offered at the University of Notre Dame, for example, offers an exclusive low interest rate for students and faculty that can be financed for three years.
Mandatory Purchase Programs
Some schools have started mandatory computer purchase programs for incoming first-year students. Wake Forest University provides entering students with computers. The cost is included in their tuition. As juniors, Wake Forest students receive a new computer that becomes their property upon graduation.
The Levin College of Law at the University of Florida requires its students to own a laptop, but does not specify a brand. Instead, up to $2,500 in financial aid is available per student to help fund new laptops.
Tax Deductions
If your college has a mandatory purchase program, you could be eligible to deduct your computer costs from your taxes. The cost of a personal computer, even one used for school, is generally considered a personal expense and is not tax deductible. But computers that you must buy as a condition of attending school are deductible. Mandatory computer purchases may qualify as an expense under the Lifetime Learning Credit or Hope Credit.
Additional Buys
To make the most of your computer, you may want to consider purchasing some additional items:
- USB drive
: A USB drive is a removable drive that plugs into your computer and provides extra storage. It transfers files and backs up information. “USB drives are probably one of the most inexpensive but important pieces of hardware that students need these days,” Pliska says.
- Carrying Case: If you’re going to spend money on a new computer, you should invest in a secure carrying case to protect it from damage. A good case will also make it easier for you to take your computer with you.
- Printer: Many schools have large computer labs where students can print for free, but other schools have pay-to-print systems. Depending on the availability of printers and cost of printing at your school, think about getting a printer.
Warranty
Another item to factor into your computer costs is a warranty “If you’re thinking a $400 computer is a good deal, then stand back and look at the warranty … You need to think about what makes a system a good deal,” Pliska says. Make sure the warranty covers your computer for the entire time you’ll be at school. “It’s very rare that a student will go through four years of school and never have to need any kind of service on their computer,” Pliska says.
Upgrading an Old Computer
If you aren’t sure you want to invest in a new computer, you could save money by upgrading an old one. “Bringing an old computer to campus, if the student just doesn’t know what they want yet and want to get through a first semester without having to make such a big decision, can be beneficial, Pliska says”
A computer that is two to three years old can easily be upgraded. Models older than this can also be updated, but it could end up costing as much as buying a new computer. Upgrading your computer yourself is easier than you think. Guides are available online and books, like Upgrading and Repairing PCs, 16/e, help walk you through the process. Depending on the upgrades your computer needs, expect to pay a few hundred dollars. But beware, if doing the work yourself, you risk damaging your computer or making an unsuccessful upgrade.
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