NEED TO REDUCE COLLEGE/UNIVERSITY COSTS? RIDE AN E-BIKE!

As we all know, the average cost, per year, to attend college or university continues to rise in unprecedented fashion. The “bare bones” expense for a 4-year degree has more than doubled, at an inflationary annual growth rate of 6.8% per year, since 2000.

The U.S. average annual bill for higher education is currently $35,551, including books, electronic devices, tuition, other supplies, and daily living expenses. This average is calculated over all levels of educational institutions —- from Ivy League schools to private universities to state-funded 4-year institutions to community colleges. The calculation does not include the interest rates on college loans, furnishing dormitory rooms, membership in educational groups/associations, or social activities. 

Transportation to and around campus also adds up

Among other factors, that high expenditure also does NOT include the cost of transportation. Transport has radically risen as the cost of cars, gas, oil, insurance, repairs has escalated over the same timeframe. The true cost range of owning a car, or leasing one, averages $11,000 annually, according to AAA. 

As a student, a parent, or a faculty member, you might have little power over college costs. But the cost of transportation to college, and around campus, can be mitigated. Pedego e-bikes are an answer. 

E-bikes are a budget-friendly solution

From a pure cost perspective, Pedego e-bikes are far more budget-friendly than cars, or even the variable costs (plus security concerns) of public transportation, ridesharing, or Uber/Lyft use. From a simple automotive purchase standpoint, even the most expensive Pedego e-bike is 75% cheaper than the initial outlay for a dependable, much older used car. And for a standard low-end new car or SUV, in 2022, you could purchase up to 10 e-bikes, depending on which the model you choose!

From a fuel or electric charging viewpoint, the cost-savings are also truly a no-brainer. Even if you have the most fuel-efficient hybrid vehicle on the road, and gas prices are not surging, you are probably paying $4 to $5 per day, just to travel a conservative 35-40 miles roundtrip.  Using pedal assist and a full battery, the same cost for a Pedego e-bike averages around $1.30 or less for the same trip.

For maintenance, e-bikes do need some tuning up, annually. But the cost to do so is much different compared to a car. Even if you invest in annual tune-ups, and 2–5-year replacements of tires, brake pads, and battery, the annual maintenance cost ranges, at most, up to $750. Compare that to a car or truck! The American Automobile Association conservatively calculates that a car’s maintenance is a minimum of $1,200 per year and is rising rapidly.

Insurance, taxes, registration, and licensing for your personal vehicle are other costly factors. All these other costs can range up to $5,600 annually for a car or truck according to AAA. An e-bike does not include most of those necessary costs, although we would recommend some form of minor insurance just to be safe.

More hidden costs, like the cost of well-being gained by easy, agile e-biking, and saving time and stress  from not having to search for hard-to-locate campus parking spaces are not even considered in these comparisons. But they should be for the hardworking college/university student. 

To address the college and university budget crisis, we suggest that students, parents, faculty, and administration consider the Pedego electric bicycle as one of the essential tools to reduce costs, and smoothly traverse the higher education landscape. You can use it on-campus and off-campus for long trips, and short ones, affordably!

We have a Pedego store in Mt. Dora Florida, and in Walled Lake, Michigan where we would welcome a discussion with you. To learn more, call the location nearest to you.