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Costco is hot, hot, hot — according to Statista, there were 71 million Costco members worldwide at the end of last year. Despite these numbers, joining isn’t necessarily right for everyone. If you’re a college student, it’s worth weighing the benefits of Costco vs. the potential downsides to decide if a membership is for you.

Should you shell out $65 for a Costco Gold Star membership (or $130 for an Executive membership that pays 2% cash back) if you’re currently gearing up for final exams this semester? Let’s take a closer look.

A few ways Costco could save you money as a student

The easiest way to save money at Costco is by buying larger quantities of items you already use, for less money than you’d spend on smaller quantities at the grocery store. But being a current college student may make that difficult. How else can you save at Costco if you’re a college student?

Electronics

You can turn to Costco for electronics purchases — the warehouse giant offers deals on laptops, TVs, cellphones, and more. For example, you can save $120 off the list price for a new 10.2 inch iPad with 256 GB of storage right now — the same iPad will cost you $20 more at Best Buy. Score enough money off even one item like this and the Costco membership will have paid for itself.

You can save even more on Costco buys by using the right credit card. Click here for our picks for the best credit cards for Costco shoppers.

Tires and auto insurance

If you’re that lucky college student who has a car (I was that student when I was an undergrad — I drove all my dorm friends around), you’ll need to buy new tires for it every so often. Costco sells tires, and while you may not necessarily pay significantly less for them there than elsewhere, the included fringe benefits (like free installation, rotation, a road hazard warranty, and more) could make it very worthwhile.

Speaking of driving, the odds are good that you pay a pretty penny for auto insurance (due to your age; that’s one of the risk factors car insurers take into consideration when setting premiums for drivers). Costco might help you save here, too. Costco members who take advantage of Costco’s partnership with American Family Insurance saved an average of almost $600 annually on auto insurance.

The best way to save on auto insurance? Shop around. Check out our picks for the best auto insurance companies and compare rates.

Optical services

If you’re having trouble seeing, it’s sure to affect your studies. Luckily, Costco has you covered here too, with Costco Optical. You can get an eye exam (Costco takes vision insurance, if you have it) and buy glasses or contacts either online or in-store.

Glasses wearers can take advantage of Virtual Try-On to see what a given pair of frames will look like. And even if your glasses are from another optician, Costco will still adjust them for you for free.

Should you give Costco a pass until after commencement?

Despite these perks, being a college student might keep you from taking advantage of the most accessible perk of Costco membership: the bulk deals on everyday items, like toilet paper and granola bars. The odds are good at this point in your life that you don’t have a ton of free space at home, because you live in a tiny shared apartment or even a dorm room.

If you don’t have the ability to store bulk purchases, is it still worth joining Costco? You’ll need to determine that for yourself. As we discussed above, Costco’s prices on big-ticket items (like laptops and other electronics), as well as deals on tires and optical services could certainly make paying $65 per year for an entry-level Gold Star membership worthwhile.

Deciding whether a Costco membership is right for you as a college student comes down to running the numbers for your expenses and seeing if Costco would save you enough money to make that membership fee worth it.

Top credit card to use at Costco (and everywhere else!)

We love versatile credit cards that offer huge rewards everywhere, including Costco! This card is a standout among America’s favorite credit cards because it offers perhaps the easiest $200 cash bonus you could ever earn and an unlimited 2% cash rewards on purchases, even when you shop at Costco.

Add on the competitive 0% interest period and it’s no wonder we awarded this card Best No Annual Fee Credit Card.

Click here to read our full review for free and apply before the $200 welcome bonus offer ends!

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