College Expense and Resource Projections

Making it Personal – College Expense and Resource Projections

Attending college with limited resources can be a trying experience. One way to alleviate some of the financial stress is to plan ahead. Develop a worksheet following the general layout of the table below that shows the projected expenses and resource for four years of college. When complete, please label your work College_Expenses_Your_Name

ExpensesFreshmanSophomoreJuniorSeniorTotal
Room and Board$9942    
Fees$ 2294    
Tuition and Books$9268    
Clothes750.00    
Entertainment1,025.00    
Misc675.00    
Total Expenses     
 
ResourcesFreshmanSophomoreJuniorSeniorTotal
Savings     
Parents     
Job     
Loans     
Scholarships     
Total Expenses     
 
Assumptions
Savings10%    
Parents20%    
Job10%    
Loans30%    
Scholarship30%    
Annual Rate Increase7.5%    

After creating the worksheet: Perform a Whatif Analysis by changing the percents of the resource assumptions; (b) Perform a what-if analysis to determine the effect on the resource by increasing the Annual Rate Increase to 9%; and (c) with the original assumptions, goal seek to determine what the Annual Rate Increase would be for the total expenses to be $100,000.  Submit each What-If Analysis properly labeled as well as the completed Goal Seek.

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