College can be a time of independence, discovery and, of course, education. Also, excessive drinking. Even if you’re under age.

In a 2009 study by the Centers for Disease Control And Prevention, 42 percent of high school students reported having consumed alcohol in the previous month.

And as a young person, possibly experiencing alcohol for the first time, things could get out of hand and you drink way too much.

This not only can take a toll on one’s health, but also their wallets. A Mayo Clinic study published today found that the total cost of hospitalizations for underage drinking is an estimated $755 million per year.

According to researchers, of the 40,000 young people aged 15-20 hospitalized in 2008, 79 percent were intoxicated when they arrived at the hospital.

The average age of alcohol-related hospitalizations was 18, and 61 percent of young people hospitalized for drinking were male. The highest number of incidences occurred in the Northeast and Midwest, while the lowest frequency was in the South.

The trend is not going unnoticed, however. Just last weekend, 11 were arrested for underage drinking at a house party in Highland, Illinois. And last Friday, five high school students in Fairfax County, Virginia, were arrested for underage drinking after a basketball game, leading to community-wide discussion about the need for greater education and discussion about the prevention of underage drinking.

Diane Eckert, executive director of the Unified Prevention Coalition of Fairfax County, told the Washington Post: “Our message is that parents need to continue to give very clear messages about family values, family expectations and family consequences.”

It’s estimated that about 1,400 student deaths involve alcohol every year.