Select two colleges that you are familiar with or would like to know more about. One should be a private 4 year college and the other a 4 year public school from within the state you reside in (if you live outside the US chose any state college). Using the following scenarios below, go onto each of the school�s website you have selected and locate their net price calculator and complete the questions. (Sometimes they hide it so you may need to use Google to find it) When you have your final results, answer the questions listed below.
Note: Please use only the information provided below. Depending on the college will depend on whether the school has used the 9 question federal requirement or if they have customized the Net Price Calculator, which may include very detailed questions.
Mom is divorced who and has three children. The oldest will graduate from high school and wants to attend college. The family lives in an apartment. Mom does not receive any child support.
Income (AGI) � $30,000
Untaxed income (401 contribution) � 0
Taxes paid � 0
Cash, savings and checking – $100
No investments or assets
Rents does not own a home
Other: 4 in family, 1 in college
Earnings – $2,000
Cash, savings and checking – $0
Wants to major in Journalism
Wants to live on campus, has a GPA of 3.5 and his SAT scores are 1550
Family # 2:
Married couple with two children. Both parents work and try hard to save for college for both their children. Student has a part time job, but works very few hours. They own a home.
Income � $135,000 (AGI)
Untaxed income (401 contribution) � $10,000
Taxes paid – $18,000
Cash, savings and checking – $2,000
Total parent investments (529 Plans) – $30,000
No other investments
Home Equity Value:
Current market value � $295,000
Mortgage – $225,000
Other: 4 in family, 1 in college
Income � $2,000
Cash, savings and checking – $1,000
Wants to major in engineering
Wants to live on campus, has a GPA of 3.8 and his SAT scores are 1850
Complete the following questions and share your results on the Discussion Board:
How easy was it to locate the net price calculator on the school ‘s website?
Which type of calculator did they use?
Federal (9 questions)
Customized Will ask additional questions beyond the federal requirement
What were the results?
Do you think this is a true indicator of the net price for which the family might have to pay?
What other costs may not be considered?
How would you counselor your families on using this tool?
Using the budget worksheet that has been provided for you (College Cost Comparison.xlsPreview the documentView in a new window), research all the costs (tuition, fees, room & board, health insurance, lab fees, etc.) that you can find related to the colleges you selected. Enter the information onto the spreadsheet (from cell 11 to 25 if applicable). There are formulas built in so the numbers should total on their own. You do not need to submit your results. The purpose of this part of the assignment is to have you research all the additional costs not seen by the family.
Two school in Georgia one private and one public around Savannah Georgia area.
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