Cost of Education for a Degree in Design at Bryant & Stratton College 7 Samantha Baker
Total of Tuition and Fees = $33,720 Graphic Design AAS Program Level - Associate's degree Program Length - 2 years (Bryant and Stratton College) Tuition and Fees: Total of Tuition and Fees = $33,720
Books & Supplies Books and Supplies = $3,200
On Campus Room & Board Click to add text Room and Board = $17,200
Tuition & Fees + Books & Supplies + On Campus Room & Board = A Total of $54,120
Monthly Payment in a Span of 10 years = $555.43
With a Total Interest of $12,531.48
Payments Arrangments: What is the payment for 10 years? $555.43 How do the monthly payments change by reducing it to 8 years? $667.01 How does the total interest charged over the life of the student loan change by reducing the loan from 10 years to 8 years? Total Interest if one does payments within 10 years $12,531.48. Total Interest if one does payments within 8 years $9,912.91 . That is $2,618.57 worth of savings reducing the amount of interest by paying ones loans back eight years rather than 10 years.
Average Salary & Affordability? $52,700 Average Annual Salary (Salary.com) Weekly Average of $1,013 What do you believe would be the best financial decision? The best financial decision would be to pay off the loan in 8 years. If one can afford the payments after life expenses, it would be the smartest thing to do. Does it seem reasonable that a recent graduate could afford such a monthly loan payment? Why/why not It is reasonable depending on other cost of living expenses. Whether one has a growing family or whether finds a job right away after graduation. They can all have a significant affect.
References: Bryant & Stratton College, Graphic Design AAS Program Level - Associate's degree Program Length - 2 years , https://www.bryantstratton.edu/disclosures/GRAD/gedt.html, retrieved 6/17/2016 Salary.com, Graphic Design Specialist, US National Averages, http://swz.salary.com/SalaryWizard/Graphic-Design-Specialist-Weekly-Salary-Details.aspx , retrieved 6/17/2016