8 College Fees You Didn't Plan For

There is no doubt that college has its expenses, but beyond tuition and supplies, there are dozens of other hidden costs you should plan to incur. SmartMoney.com put together a great list of 8 college fees you probably aren’t planning on. You can find a few of their tips below, or check out the full list here.

Freshman orientation: $100

Orientation isn’t usually optional, but neither is it free. For opening dorms early, guest speakers or, yes, even orientation parties, some schools charge $100 per student – or more. Iowa State University charges $190. Boston University charges $215 per student; if parents and siblings attend, they're charged $100 and $50 each, respectively.

Study abroad enrollment: $800

Aside from regular tuition and the costs associated with living abroad, some schools tack on a “maintenance fee” for study abroad. Purdue University, for example, charges a fee of up to $853.35 per semester if a student goes abroad through a program that isn’t run by Purdue. A spokeswoman for the university says the fee covers maintaining relationships with the host university, including the cost for Purdue officials to travel to the school abroad to check on the program.

Technology: $130 to $445

The days of free computer labs are over. Nowadays students are often charged about $200 per year to cover maintenance, ink and paper, says a spokesman for the U.S. Student Association, a network of college student governments. And more tech-oriented students pay more. At Iowa State, most students pay $115 per semester, but majors in fields like engineering and computer science pay $223.

Student activities: $270

The extracurricular activities on campus look free, in that students don’t have to pay to attend them. Instead, there’s a student union fee tacked on to tuition bills to help pay for the student newspapers and activities like dances. At the Massachusetts Institute of Technology and the University of Maryland, it’s $272 for the year. At California State University, Fresno, it’s up to $109 per semester to pay for the recreation center, plus a $34.50 student body fee for support of on-campus student organizations.

Sports: $200 to $1,000

Big-time jocks get college scholarships. Amateurs and enthusiasts have to pay to play. At Ohio State, students in intramural sports will pay up to $125 per team per quarter. These sports aren’t supported by university athletic departments, so they turn to students for funding, says Rod Bugarin, a former financial aid officer at Brown and Columbia universities. And even if your child isn’t the athletic type, you may still have to pay $1,000 or more to support a school’s athletic program – especially if it’s in the National Collegiate Athletic Association’s top division, says a USSA spokesman.

Time to Tax Those Checked Bag Fees?

When you go to book an flight it can be difficult to estimate the final cost until you are actually boarding the plane because of all the fees and taxes that get added on. ABC News published a great article on these excessive fees, and what the future will hold for them. You can find a section of the piece below, or head on over to ABC News.com for the full text.

So you're at JFK and there's your grandma, waiting in line at security, when she gets pulled aside by the TSA for a "special" going-over (while you do a slow burn). Guess what? You're paying for that.

You might be surprised at some of the things you pay for, courtesy of all those taxes and fees levied on that airline ticket of yours. I don't think you'd mind paying some of them, but it's not cheap -- and if you think the taxes and fees make up about 10 percent of your ticket price or so, think again.

Here's an example: you're so jazzed that you've scored one of those elusive $99 each-way cross country fares that you don't even care that it's not a nonstop. However, it's not a $200 fare either, not when you add in the taxes and fees. Let me show the figures for this roundtrip airfare:

Base airfare: $200

Federal Excise Tax: $15

Federal Flight Segment Tax: $14.80

Passenger Facility Charge: $18 (Note this charge can vary and may be lower.)

September 11 Fee: $10

Total airfare: $200. Total taxes and fees: $57.80 for a total ticket price of $257.80. And the taxes and fees represent 28.9 percent of your ticket -- almost 30 percent. Of course, this doesn't include a checked-bag fee (or Spirit's new carry-on fee, which could cost as much as $45 each-way).

Continue reading at ABC News.com…

U.S. banks may end free checking accounts: report

Banks seem to be tightening up their financial purse strings lately. The latest report from Reuters.com states banks are doing away with free checking accounts. It further explains that this move is expected primarily to hurt retail businesses who could be asked to pay new monthly maintenance fees on their basic accounts that do not generate a lot of activity. According to Reuters banks are incurring expenses of $250-$300 a year to maintain each of the approximately 200 million checking accounts. However, some people disagree with this assessment. Don’t banks borrow against the money in checking accounts? And aren’t they already charging customer’s overdraft fees, ATM fees, and dozens of other outrageous fees? What do you think? Are you with a large bank or do you prefer a credit union instead? Let me know your thoughts on my Facebook or Twitter.

15 most hated fees

Fees. No matter what they’re for, they are not very popular. Unfortunately, fees aren’t going anywhere. We will probably encounter more than the expected in the coming years. CNN Money discusses 15 fees we should be on the look-out for:

1. Forking over new charges for overdrafts: Often banks allow you to link a savings account to your checking account so that funds can be pulled from the former if you overdraw the latter. This workaround can help you avoid nonsufficient-funds fees, now averaging $30, according to Bankrate.com. But many banks have found a workaround for your workaround: They'll charge you $10 to $20 every time they transfer your money between the accounts. Meanwhile, it costs the bank next to nothing to move the funds, says Bryan Derman of Glenbrook Partners, a financial services consulting firm. "They're charging you for what's essentially an automatic transfer!" echoes reader Zoe Dowling, whose bank (Wells Fargo) levies the fee.

How to fight back: Sign up on your bank's website or Mint.com for e-mail or text-message alerts that tell you when your checking account balance is below a certain amount. That way, you can make transfers for free, yourself--before an overdraft is triggered.

2. Paying to use your frequent-flier miles: Can it really be called "reward travel" if you have to pay for the reward? To redeem your miles for any flight on US Airways, you must pay a $25 to $50 fee. ("It's an effort to recoup a portion of the overhead of the program," says spokesman Todd Lehmacher.) American, United, and Continental, among others, usually make you pony up $50 to $500 one way to use miles for upgrades.

How to fight back: Stick to one airline, and try to achieve gold or platinum status (which generally involves flying at least 25,000 miles a year). That way you'll escape redemption fees, says Randy Peterson of WebFlyer.com. Don't travel that much? Consider a credit card that lets you earn miles -- specifically "elite qualifying miles" -- such as Platinum Delta SkyMiles American Express (800-223-2670). Just be sure to weigh the annual fee against the benefit you'll get.

3. Paying to shut a brokerage account or IRA: No matter how unhappy you may be with your broker, you may be even more unhappy to discover that you'll have to shell out money to sever your relationship. Many of the major firms -- such as Fidelity, Schwab, and WellsTrade -- charge transfer fees, generally between $50 and $200, if you close your account and move your money to a different firm. Reader Eric Nix finds it "outrageous" that he had to lay out $50 to switch brokerages. Benjamin Poor of Cerulli Associates, a financial services market research firm, agrees. "It's like having a bad meal at a restaurant, then being charged to leave the building."

How to fight back: If your current brokerage is holding you hostage with its fee, appeal to the company where you want to move your funds. Many will reimburse you. To prevent these problems down the road, when you first sign up at a brokerage, ask that it waive such fees. "These things are negotiable, especially if you have a sizable account," says Mason Dinehart, a securities expert witness. (Sizable means six figures.)

4. Plunking down to hang up on your cell carrier: Agreeing to a cell phone contract is sort of like signing over your soul to the devil: You know there will be hell to pay if you break your end of the deal. In this case you'll owe $200 to $350. Such fees usually subsidize the cost of the handset you bought at a low price, says Bob Sullivan, author of Stop Getting Ripped Off.

How to fight back: Try to talk your way out of the fee, mentioning examples of poor service you've received (keep records and cite them). Customer rep won't budge? If you can stand it, stick with the carrier a while longer. Termination fees are generally pro-rated, so the longer you hold out, the less you'll pay. Next time consider a prepaid phone, which doesn't require a contract. It's generally a good deal if you use it less than 400 minutes a month during peak hours, says Sullivan.

See all 15 fees and how to fight back here.

10 Annoying Charges Consumers Face

No one likes hidden fees, but in today’s economy hundreds of companies have turned to fees in order to make up for lost revenue. Americans all over the country are becoming more aware of these hidden charges. So, to help everyone prepare ahead of time for these expenses WalletPop.com has put together a list of the top 10 annoying fees on consumers. You can find a section of the article below, but be sure to click here for the full list.

Airline Preferred Seat Selection Fee

Airplanes are designed to cram passengers into undersized seats like sardines in order to maximize profits. Savvy (and tall) travelers have long opted for emergency row seats for some precious extra legroom, while others like to be near (or far) from the bathroom. And while the ability to choose a window or aisle seat has traditionally been a standard courtesy while purchasing a ticket, some carriers are now charging for this non-service. According to Expedia, the worst offenders are United Airlines ($14 to $109 for domestic flights, and $89 to $109 for international flights) and Virgin America ($15 to $50), while others, like American and Delta, still let you choose your seat for free, both domestically and internationally. At this rate, pay toilets are probably inevitable. Don't laugh, it's already been proposed by Ireland's Ryanair.

Dealer Preparation Fee

Anyone who's ever purchased a new car has probably noticed a "Dealer Prep Fee" in the sticker, which usually runs anywhere from $500 to $2,000. So what exactly does "dealer prep" cover? Typically, it involves peeling the plastic off the seats and hood, vacuuming the interior, a wash and wax, and maybe topping off the fluids. Most people just pay it, but you can try negotiating or just flatly refusing to pay it, consumer advocates say.

Ticketmaster Service Fees

If you've ever bought a ticket to see a concert, play or sporting event, you've almost certainly dealt with Ticketmaster, which enjoys a near-monopoly on live events in the U.S. Ticketmaster is also notorious for assessing various fees to the price of tickets. For instance, two $90 tickets to a recent Broadway show wound up costing $203.70. That included a facility charge of $1.50 per ticket, a convenience charge of $7.50 per ticket, an order processing fee of $3.20 and perhaps the most egregious one, a "TicketFast" fee of $2.50. "TicketFast" allows you to print your own ticket and save Ticketmaster the cost of printing and mailing them to you.

How Will the United-Continental Merger Impact You?

Yesterday United Airlines and Continental Airlines announced a $3 billion merger. This is big news because the merger will create the world’s largest airline. The combined airlines will have 10 hubs and serve more than 144 million passengers annually.

If you’re a frequent flier, like me, you’re probably wondering how this merger will affect you. If the merger is approved, you’ll probably see fares increasing, and eventually other airlines may have to consolidate as well to stay competitive. Planning a trip soon? For now, you can still book a flight with either United or Continental and yes, you can continue to use your frequent flier miles from either carrier.

To find out more, Klipinger.com has a great article here.

Interested in an easy comparison of airline fees for each U.S. airline before your next reservation? Then download the free Ultimate Guide to Airline Fees.

Watch for Sneaky New Bank Charges

When the new credit and overdraft laws take into effect, many banks are expecting to lose revenue. Therefore, it should come as to surprise that many are already looking for ways to make up for the loss. In place of sneaky overdraft fees, several banks are looking to create new fees on checking accounts, and additional banking options for additional revenue.

MSN Money posted an interesting article alerting consumers of these changes. Reportedly, banks will begin bombarding customers with these new fees throughout 2010 in preparation for the new law that will take affect in July.

For some customers, that could mean the end of free checking accounts.

“Banks, just like airlines and local governments, need to fill the revenue gap,” Greg McBride, the senior analyst for Bankrate.com, told Smart Money last year. “They’re looking to fee increases to do that.”

A 2008 study by the Federal Deposit Insurance Corporation reported that 75% of checking account holders paid nothing for the service. The other 25% paid minimum balance fees, overdraft fees and other service charges -- subsidizing free checking for everyone else, Consumer Affairs reported.

With banks’ ability to levy some of those charges restricted, expect banks to raise the threshold for free checking, increasing the number of customers who pay something, Consumer Affairs predicts.

Continue reading at MSN Money.com…