How much more should I save for college?
Right now I am a freshman in high school, and I have about $7,000 in savings towards college. I am going to Lake Erie College for equestrian studies. In state tuition is 25, 220, room and board is 7,650, books and supplies is 900. I plan on bringing my own horse and boarding will be 1,540 per semester, and riding classes will be 800 per semester. I am attending for 4 years. Based on personal finances in college, how much do you guys think I need to save?
25,220 + 7,650 + 900 + 3,080 = 36,850 / year
36,850 x 4 = 147,400 for 4 years
To get your 4 year degree you will spend a minimum of $147,400. Basically… You need to save as much money as possible and apply for financial aid whenever and were ever you can.
About $160,000 for 4yrs.
References :
I’m not quite sure how you calculated those costs and whether they are calculated annually or monthly. If it’s annually, add all the costs together and you’ll get an amount. This does not count food, personal expenses or a place for your horse to stay. As an estimate, you’re better off saving about a couple thousand dollars extra for everything else. It seems like you need about $50,000 a year if I read your amounts correctly.
References :
25,220 + 7,650 + 900 + 3,080 = 36,850 / year
36,850 x 4 = 147,400 for 4 years
To get your 4 year degree you will spend a minimum of $147,400. Basically… You need to save as much money as possible and apply for financial aid whenever and were ever you can.
References :
college student