Using the tuition and related information in (1) you need to compound it at a reasonable inflation rate for education-related expenses for x number of years.
Estimate future costs of two following colleges for your (future) child (or grandchild) and calculat Show more Estimate future costs of two following colleges for your (future) child (or grandchild) and calculate needed annual savings for two colleges. Please specify your assumptions for computation of future costs and needed annual savings. Yale University Syracuse University http://www.yale.edu/printer/bulletin/htmlfiles/architecture/tuition-and-fees.html Tuition and Fees TUITION The tuition fee for the academic year 20152016 is $46500. This tuition fee includes health care services under Yale Health but does not include the hospitalization insurance fee. The Corporation of Yale University reserves the right to revise tuition rates as necessary. Return to Top FEES An annual fee of $1100 is charged to the Student Financial Services bill for use of the School of Architectures shops computers printers and other equipment furnished by the School. This mandatory fee applies to all students and is refundable only upon withdrawal from the School according to the tuition rebate and refund policy itemized below. Return to Top TOTAL COST OF EDUCATION For a single student living off campus in the 20152016 academic year a reasonable albeit modest estimate of total cost may be estimated by the following costs to be $68605 for first-year M.Arch. I students and $66893 for all other students. First-Year M.Arch. I All other students Tuition $46500 $46500 Fees 1100 1100 Yale Health Hospitalization/Specialty Coverage 2176* 2176* Room and Board 14044 12767 Books/Personal Expenses 4785 4350 ______ ______ $68605 $66893 http://financialaid.syr.edu/costofattendance/undergraduate/ The Cost of Attendance is an estimate of what it will cost to attend Syracuse University for an academic year. There are two types of expenses that make up the Cost of Attendance: Direct Expenses Indirect Expenses The following chart lists the Cost of Attendance for the 2015-16 academic year. Direct (Billable) Costs Direct (Billable) Costs Other Indirect Expenses (Average) Other Indirect Expenses (Average) Tuition $41794 Books & Supplies $1412 Housing & Meals $14880 Transportation $642 Miscellaneous Fees $1524 Personal Expenses $990 Total $58198 Total $3044 Subtotal (without health insurance) $61242 Health Insurance $1890* Total Cost of Attendance $63132 *This mandatory fee may be waived if student has adequate private health insurance. Read more. 2015-16 Health Insurance rates: $1890 for students required to purchase the Health Insurance plan $2742 for students voluntarily purchasing the Health Insurance plan The cost of attendance may vary based on your program of study and program fees. Charges for tuition housing meals and fees are subject to an annual increase to secure the highest quality instruction facilities programs and services. The University considers carefully all increases in fees to ensure that they are reasonable. Students and families should plan for annual cost increases and be prepared for the financial commitment. The total of all student financial assistance cannot exceed the Cost of Attendance. 1. Make sure that you include accurate information and citation source (20 points). 2.Using the tuition and related information in (1) you need to compound it at a reasonable inflation rate for education-related expenses for x number of years. I hope most of you are aware that educational inflation has been much higher than overall inflation in the economy (You can find tuition inflation statistics from the internet. Use google.com and search for tuition inflation or education inflation) 3.After you calculate this projected cost your next job is to find the annual deposit needed to accomplish the goal meeting the educational expenses. You assume the investment rate of return (You can use savings account rate as your investment rate of return for example). Recall the equations or time value of money table we went over in class. You will choose the one that will give you the amount of the annual deposit Show less
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