I'm a College Student. Should I Join Costco?

For many people, joining Costco is a no-brainer. Shopping there often means racking up a smaller credit card tab than shopping at supermarkets and big-box stores.

But what if you're a college student? Not only might your funds be limited, but your storage options may be even more limited.

For many college students, a Costco membership will not make sense. But there are exceptions.

When a Costco membership pays off for college students

First, let's get one thing out of the way. You have to be at least 18 years old to join Costco, so if you're a younger college student, getting your own membership may not be an option right away. Many college students, however, are of age to join Costco.

Now, let's address the cost issue of joining Costco as a student. When you're already borrowing money to cover tuition costs and your savings are limited, the idea of having to shell out money just for the privilege of being able to shop at Costco may not seem so appealing.

But you should also know that if you stick to a basic Costco membership, you're only looking at $60 a year. That's just $5 a month, which is less than what you may be spending on various streaming services.

Then there's the storage issue. If you're a college student whose living quarters are confined to a dorm room, then joining Costco probably won't pay. But if you live in an off-campus house with several roommates, you might have plenty of storage, from a full-sized fridge to a basement that's perfect for stashing toilet paper, paper towels, and cleaning supplies in bulk.

Also, if you live with several roommates, you could always join Costco but ask the people you live with to chip in for a membership. In fact, let's say there are four of you sharing a house off campus. If you were to split a basic Costco membership, you'd each be chipping in $15 a year, or just $1.25 a month. That's a fee you can probably afford, even if you're on a shoestring budget like many college students.

Plus, your Costco membership fee might more than pay for itself in the form of savings. If buying household supplies and groceries to share at Costco saves you even just $10 a week, then all told, it's easy to justify the $60 annual cost.

An option worth considering

The typical Costco member is probably not a college student. And for many college students, a Costco membership will not be feasible.

But that doesn't mean you need to write off the idea of joining Costco. Think about your living situation and the amount of money you spend on groceries and household supplies. You may find that joining Costco is a cost-effective solution.

Of course, one final thing you'll want to consider is the proximity of the nearest Costco to where you live. But if there's a Costco nearby you can access pretty easily, then you may find that a membership ends up paying off big time.