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First 1200$ for room an board per month is more than enough to live in Boston....with a roommate. My boyfriend and I are living together and rent + utilities costs us 750$ a month. This leaves me 450$ for other stuff. So even though it seems like very little you will probably be fine. Granted I do not know if you have a family or not to support but for one person its more than enough.🙂
P.S. Our 750$ also includes parking. Though I do not think that most students will have a car.
Where in Boston do you live? Cause it sounds like you have a great deal.
I live in the south end and pay $850/mo plus about $100 in utilities, which is a good deal. Most people around the south end pay about $1,000/mo. or more and that is with at least one roommate. LShapley has the costs about right, which you can also obtain from: http://www.bumc.bu.edu/Dept/Content.aspx?DepartmentID=375&PageID=12184
---> click on Housing Resource Guides ---> click Boston Neighborhoods
From my experiences and from the many people I know here, expect to pay somewhere in the middle to upper end of those numbers unless you are very lucky. Plus, to get a place here you normally have to pay up front first month, last month, and a security deposit of one month. So basically, that's three months up front which is about $2,400 - $3,000 just to move in.
Also, don't forget that $1200 is room AND BOARD. I generally spend at least $300/mo on groceries. With rent and utilities, that puts me just over budget. The budget for next year is http://www.bumc.bu.edu/Dept/Content.aspx?DepartmentID=160&PageID=13107
and would mean I would tap in to the personal allotment just to cover basic living expenses. Add in any entertainment spending or anything else and I hope you either find a great inexpensive place or have family helping you pay for school.
Personally, I would not bring a car. Maybe I just had bad luck, but after living here for a year I got rid of mine. Parking near BMC my car got many scratches on it from people who are not very skilled at parallel parking. Also I was rear ended while stopped at a stop light TWICE by taxi drivers and side swiped out of nowhere by an overly aggressive driver. However, you may need a car for third and fourth years, because many students I know have clerkships outside of Boston (some as far away as RI or Maine). By the way I have a very clean record and never claimed those accidents since I don't have a really nice car and my auto insurance ran about $2,500/yr (which would also hurt your budget).
Anyway, you will all be studying most of the time and not have much time to spend a lot of money. So as long as you have other financial resources or are very spendthrift with your budget, it will work. Best of luck!