Cost of College Project
1. ACADEMIC PLAN
In this assignment, you will develop an
Cost of College Project
1. ACADEMIC PLAN
In this assignment, you will develop an estimate of the cost of your college education.
Write 2-3 sentences summarizing your academic goals. Indicate your major (if you have
chosen one) and all levels of the degree(s) you hope to earn. (Associates, Bachelors,
Masters, or Doctorate degree) If you are likely to attend any colleges in addition to Rose
State College, include them in your summary. Also indicate your intended career path.
In what job or field of work do you hope to to find yourself when your degree is
complete?
2. CALCULATE TUITION AND FEES
Look up the number of credit hours you will have to earn for the degree(s) you are
pursuing and the rate of tuition and hourly fees for the college(s) you plan to attend. Use
the box below to explain (in detail) how you would calculate the cost of your degree(s).
Remember unit pricing for college tuition and fees is defined by the number of credit
hours. State the unit price for tuition and fees (per credit hour) for the college(s) you
plan to attend, then show how the unit price is used to compute your total cost of
earning a degree. What TOTAL amount of money will your degrees cost? (Do not
include books or living expenses. Do not include discounts in the form of scholarships,
grants, or GI money.) Note: Associates degrees require a minimum of 62 hours.
Bachelors degrees require a minimum of 124 hours total. (includes the 62 hours earned
at Associate level)
3. STUDENT LOANS
Pretend you are going to borrow the full amount of tuition and fees needed to earn your
degree(s). This is the amount you calculated in the previous question. Do some research
on current interest rates for student loans. Then, use an online loan calculator to
determine what your monthly payment would be for a 15 year loan at the current interest
rate. Your response should include the following.
● Total amount borrowed
● Rate of interest
● Monthly Loan Payment
● Total amount of interest paid over the life of the loan
● Total installment price (total principal & interest)
4. COST/BENEFIT ANALYSIS
Do some research on starting salaries for the job or field of work in which you hope to
find yourself upon graduation. In the box below, write a paragraph summarizing the
impact a student loan would have on your monthly income. Your response should
include the following.
● Job title or role in a specific field of work
● Realistic annual salary based on your education and experience
● Projected monthly income
● Calculated monthly loan payment (from previous question)
● What percent of your monthly income will go toward the student loan?
5. KEEPING IT REAL
Think about how closely this exercise models your situation. How are you actually
covering the cost of your tuition and fees? (out of your own pocket, family funds,
scholarship money, financial aid, GI bill, etc.) If you are paying your own way through
college, will you use a student loan to complete your degree? In the box below, write a
paragraph summarizing how your particular circumstances may resemble or vary from
the scenario laid out in this assignment, and indicate any adjustments you would make in
your own plans.
ATTACHED IS AN EXAMPLE OF THE COLLEGE PRICES. I ONLY PLAN ON OBTAINING MY ASSOCIATES DEGREE. MY COLLEGE IS BEING PAID BY THE PELL GRANT AND NOTHING OUT OF POCKET. I DO NOT PLAN TO WORK IN THE FIELD MY DEGREE IS IN CURRENTLY WORKING IN THE MENTAL HEALTH FIELD PLAN TO STAY THERE P AY IS 19.48 HRLY