Delisa Falks Executive Director Scholarships & Financial Aid Texas A&M University

Projecting Future Education Costs

Average Annual Percentage Increases in Inflation-Adjusted Published Prices by Decade, 1980-81 to 2010-11

Average Estimated Undergraduate Budgets, 2010-11 (Enrollment-Weighted)

Texas A&M Cost Of Attendance Historical Data

$0

$5,000

$10,000

$15,000

$20,000

$25,000

FY19

91

FY19

92

FY19

93

FY19

94

FY19

95

FY19

96

FY19

97

FY19

98

FY19

99

FY20

00

FY20

01

FY20

02

FY20

03

FY20

04

FY20

05

FY20

06

FY20

07

FY20

08

FY20

09

FY20

10

FY20

11

FY20

12

Tuition & Fees Room & Board Books & Personal

Tuition and Fee Increase percentages

• College tuition and fees have outpaced cost of living and medical expenses.

• Data published by the College

Board suggests that tuition and fees increase at an average of 4.3% a year at public 4 year universities.

• Private university 4 year and

public 2 year increased at an average of 2.3%.

• (note some data suggest higher percentages, as much as 8.4%)

College Cost

• Nearly half (47%) of all full-time undergraduate college students attending a 4 year public university have published charges of less than $9,000.00 per year for tuition and fees.

• At 2 year public colleges average

tuition and fees are published charges are approximately $2713.00 per year.

Other Educational Expenses

• Room and Board (on and off campus-dorms, apartments, house rental)

• Books and Supplies • Travel expenses (gas, car

insurance) • Personal expenses(household

items, clothing, entertainment)

Out of State Tuition

• Attending out of state…tuition is higher Example: Texas- student attending from another state, mandated tuition is $363.00 a credit hour, state university mandated at $126.55 a credit hour, plus $200 differential tuition. Total $689.55/credit hour.

Public Universities

• Receive some state funding to meet budget expenditures-have been decreasing.

• Make up of tuition and fees – State mandated tuition ($50.00 per

semester credit hours) ex: 12 hours $600.00 – University mandated tuition (at TAMU

$126.55 per semester credit hour) ex: 12 hours $1518.60

– Differential tuition: based on major. Per semester amount. Varies per major.

– University fees: varies – Full time enrollment: flat rate tuition – Graduating in four years

Private Universities

• No State funding to meet expenditures – Tuition $1200.00 a semester

credit hour. Ex: $14,400.00 (based on 12 hours)

– University fees $122.00 a semester credit hour. Ex: $1464.00 (based on 12 hours)

– University fees: vary

Compare/Shop Around

• Public vs. Private-tuition major expense (what scholarships do private colleges offer, how much tuition and fees will they cover)

• 4 year public university vs. 2 year public college – Tuition and fees (major differences) – Living expenses- live at home versus

apartment or dorm (already paying for their living expenses (rent and food)).

Items to consider- -Starting at a 2 year- two years of classes, less tuition and fees, save on living expenses, working part time -Starting at a 4 year- costs involved to attend vs. opportunities (majors/involvement in other activities/personal decision)

Continued Increase in College Cost

• College cost continue to increase • Aid most likely continue to decrease • Economy has yielded losses in 529 plans, stocks,

and jobs for parents.

Public Universities

• Save money! Any money that a parent can save; start saving early, when the children are young.

• Apply for Scholarships: any and all • Apply for aid early (some programs are

first come first serve) • Be smart about where to go to school

(shop around), living arrangements while in school etc…

• Borrow wisely- students and parents need to budget money to reduce loan debt after the student graduates.