Wednesday, February 22, 2012

Are you Financial Planning for Fall Tuition?

Fall Semester will begin August 22nd, and the tuition deadline will be July 27th.  So now is the perfect time to start planning ahead financially for next semester! 

1.  Make sure you submit your FAFSA now!  That will allow you time to submit any supporting documents you need by the May 1st priority date.  (The priority date for Summer semester is April 1st, so move quickly if you are attending the Summer semester!) 

2.  Create your own payment plan:
a. Estimate your expected cost of tuition based on how many credits you think you will be taking. 
b. Look up the current cost of tuition for that many credits here:
c. Divide the total by the number of months between today and July 27th.  (At the time this post was written, that number was five)
d. Estimate the cost of textbooks by including an average of $100 per class
e. Example:  If you are planning to take 15 credits in the fall, the estimated tuition cost if you are an In-State student would be $137.75 * 15= $2066.25 + $500 for textbooks, or $2566.25.  Dividing this by 5 results in a monthly budget of $513.25  (2 classes or 6 credits would be only $205.30 a month)
f.  Create a savings account through your bank or credit union, and arrange to have your estimated amount automatically deposited into your savings. 
By planning ahead, you can greatly relieve the stress of getting ready for the Fall semester and make sure you will be able to acquire the materials you need to be successful in your classes. 

1 comment:

  1. Great Article about the Personality Development Courses. Please update more new its more useful to viewers.