Compare the cost of different living arrangements and see how things like transportation, utilities and meal costs can change the equation.
If you use scholarship or grant money to pay for housing, or money from college savings accounts (like a 529 plan), make sure you understand any plan limitations. You want to understand if you can use that money to pay for off campus housing and what impact there may be if you do.
Remember to also think about other parts of your life that could be affected by how close you live to campus, like class attendance and campus involvement.
Crunch the numbers below, and check out more resources on how to plan and pay for college.