College Project
Lauren Updegrave, 3rd period
School's chosen
In-state private University - Argosy $16,885.75 per semester
In-state public University - Texas UNT $22,826 per semester
In-state public University - Texas UNT $22,826 per semester
In-state Junior college or community college - Alvin $2,566 per semester
Out-of-state University - Cornell $67,613 per semester
Total cost, loan interest, and monthly payment
Loan interest: 3.1%
Loan time: 7 years, or 84 months
Argosy
$20,908.90 per semester with interest.
$4,023 of loan interest.
$248.92 for the monthly payment.
Texas UNT
$28,264.45 per semester with interest.
$5,438 of loan interest.
$336.48 for the monthly payment.
Alvin
$3,177.37 per semester with interest.
$611.37 of loan interest.
$37.83 for the monthly payment.
Cornell
$83,722.24 per semester with interest.
$16,109.24 of loan interest.
$996.70 for the monthly payment.
The best financial decision
In conclusion to the school's researched Alvin would be the best financial decision. It would not put me in debt for the following 7 years of paying it off. The monthly payment owed would only be $37.83. As if one of the school's chosen, would create a much larger monthly payment.