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Calculate the Cost of Going Back to School

How to Calculate the Cost of Going Back to School

Many of you are enthusiastic or on the fence about going back to school sometime soon, and Sallie Mae recently launched a free online tool to help estimate the cost of your decision. Their Education Investment Planner was developed to help students better assess their choices when selecting a school and understand the true cost of education.

According to Sallie Mae's press release, the Education Investment Planner is equipped with the following capabilities.

  • Estimate the full cost of a college degree: Find out how much four years for a bachelors degree, two years for a masters degree, or other programs will cost at a specific school, including the average growth of tuition over time.
  • Build a customized Plan to pay for college through a combination of their own money, federal and state grants, scholarships and, if necessary, federal and private student loans.
  • Compare schools: Compare actual costs for approximately 5,500 colleges and universities not only tuition, but also average room and board expenses, fees, books and supplies.
  • Determine if they need student loans and, if so, estimate what their monthly payments could be after graduation and project how much a graduate would need to earn to keep payments manageable.

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Ruth3704281 Ruth3704281 4 years
As women going back to school has always had its complications. For many years scholarships and grants were first given to men. In later years family complicates the return to school. It is nice to see monies set aside to help women further their education. For help in choosing the school that best meets your goals talk with the people at applyingtoschools.com
bibliophile bibliophile 8 years
I, too, am considering going back to school and getting my masters. The cost is a major deterrent for me, unfortunately, but then again so is staying in a lackluster job. :-|
ilanac13 ilanac13 8 years
i also have really considered going back to school for my masters, and one of the main reasons that i don't do it is the cost. i'm sure that i could find the time to go (after work and on the weekends) but the cost is painful! the good thing is that the last 2 jobs that i've been at have compensated for some of the cost of tuition - assuming that the degree is related - so that's something that i've looked into - but i've never made the final steps to send the application in and do it.
hkdkat hkdkat 8 years
I recently looked into finishing my degree and with what the school required, the cost is prohibitive. So unless they can make some concessions, I'll be ABD :-(
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