Transcript Introduction to College Financial Topics

Introduction to College
Financial Topics
How much does college cost?
Sample Public University Expenses
Full-Time Tuition
Campus Living Fees
Campus Meal Plans
(average)*
** FEES
TOTAL
In State:
Out of State:
Room and Board
$3,758.00
$17,572.00
$4,650.00
$3400.00
$2110.00
$13,918 - $27,732 per academic year
These figures are based on the 2012-2013 school year. See college websites for updated figures.
Sticker shock??
Tuition
• Cost of the courses a student takes
• Variation in tuition rates is based on
– Type of institution
• Public or private
• 4-year college/university or 2-year/junior/community college
– Residency
• In-state or out-of-state
• Being an in-state resident for tuition purposes is different from
simply living in the state
• Generally requires the student’s permanent residence to be in
the same state as the college for a certain length of time before
enrolling
– Number of credit hours each semester
• Cost billed per credit hour
• Cost billed for full-time course load
Tuition Surcharge
• Fee charged to students who take additional
semester hours beyond what is required or
allowed by their degree program
• Designed to encourage students to finish a
degree program efficiently instead of delaying
graduation
Room and Board
• Cost of on-campus housing and meal plan
• Housing costs often vary based on
– Residence hall/dorm – type of housing, location, etc.
– Single or double room
– Amenities or extras (cable, phone, etc.)
• A meal plan is a pre-paid contract for eating at campus
dining locations
– Convenient (and often required) for students living on
campus
– Cost generally varies based on
• Number of meals per week
• Flexibility offered for when and where the meals can be redeemed
• Any “extras” included
Fees
• Charges for various services and programs
on campus
• Common college fees
– Student Activities
– Athletics
– Health Services
– Technology
– Recreation Facilities
– Special Course Fees / Lab Fees
College is expensive…
Why is it
worth the
investment?
Monetary Benefits
• Over the course of a lifetime, the average college
graduate earns nearly $1 million
than the average high school graduate.
• Generally, college graduates…
– Are about half as likely to be unemployed
– Receive better employment benefits
– Have more money in savings
more
Non-Monetary Benefits
• Better quality of life
• More leisure activities
• Better health
• Higher social status
• Increased personal & professional mobility
• Better consumer decision making
• More open-minded and knowledgeable about
the world
The difference in earning potential,
job security, and other financial and
personal benefits makes attending
college an excellent investment in
your future.
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