3. Tuition & Fees $ 33,060
Books & Supplies $ 3,200
Laptop Computer $ 1,100
BRYANT & STRATTON
FIRST YEAR
Tuition & Fees $ 33,060
Books & Supplies $ 3,200
BRYANT & STRATTON
SECOND YEAR
$ 8.265.00 Tuition per semester
$ 800.00 Books per semester
$ 35.00 Registration Fee
$ 8.265.00 Tuition per semester
$ 800.00 Books per semester
$ 35.00 Registration Fee
3
4. Year one $ 37,360
Second Year $ 36,260
$ 37,360 + $ 36,260 = $ 73,620
Loan Amount $ 73,620
4
5. 8 Year Student Loan
Loan Amount $ 73,620.00
Annual Interest Rate 4 % For 8 years
Scheduled Monthly Payments $ 897.37
Total Interest $ 12,527.95
Loan Amount Including Interest $ 86,147.95 ( $ 73,620 +12,527.95 )
10 Year Student Loan
Loan Amount $ 73,620.00
Annual Interest Rate 4 % For 10 years
Scheduled Monthly Payments $ 745.37
Total Interest $ 15,624.00
10 Yr Loan Including Interest $ 89, 244.00 ( $ 73,620 +15,624 )
5
6. How does this change the monthly payments ?
8 yr Monthly Payment 10 yr Monthly Payment Increase in Payment
$ 897.37 $ 745.37 $ 152.00
How does that change the total interest charged over the life of the loan ?
10 year loan $ 15,624.00
8 year loan - $ 12,527.95
Savings $ 3,096.05
I will save $ 3,096.05 in interest by going with the 8 year student loan.
6
7. Percentile 10% 25%
50%
(Median)
75% 90%
Hourly Wage $15.98 $20.42 $27.23 $36.07 $46.38
Annual Wage
(2)
$33,240 $42,470 $56,630 $75,030 $96,470
United States Department of Labor, Bureau of Statistics,
Occupational Employment and Wages, May 2013
Occupational Employment and Wages, May 2013.
http://www.bls.gov/oes/CURRENT/oes131071.htm
7
9. REFERENCES
United States Department of Labor, Bureau of Statistics,
Occupational Employment and Wages, May 2013
http://www.bls.gov/oes/CURRENT/oes131071.htm
9
