Paying for College Calculator

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Welcome to our Paying for College Calculator designed to assist with financial planning at Southern. Use the tool to determine your payment options for affording your education. Please share your feedback and contact Lew DeLuca for a Paying for College meeting to create your financial plan.

Education level

Enrollment level

In or out-of-state?

Residency

Program

Show 2021-2022 2022-2023
Estimated Direct Costs 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022 2022-2023
Tuition and Fees {{tf[0] | currency}} {{tf[1] | currency}} {{tf[2] | currency}} {{tf[3] | currency}} {{tf[4] | currency}} {{tf[5] | currency}}
Room and Board {{room[0] | currency}} {{room[1] | currency}} {{room[2] | currency}} {{room[3] | currency}} {{room[4] | currency}} {{room[5] | currency}}
Grants and Scholarships
Federal/State/University
Loans
Federal Student/Parent, Private
Savings
Cash, Check, Bonds, 529, Gifts, etc
Annual Balance Due {{direct_costs_total(0) | currency}} {{direct_costs_total(1) | currency}} {{direct_costs_total(2) | currency}} {{direct_costs_total(3) | currency}} {{direct_costs_total(4) | currency}} {{direct_costs_total(5) | currency}}
Fall Semester Balance Due {{year1_direct_costs_total_fall() | currency}} {{year2_direct_costs_total_fall() | currency}} {{year3_direct_costs_total_fall() | currency}} {{year4_direct_costs_total_fall() | currency}} {{year5_direct_costs_total_fall() | currency}} {{year6_direct_costs_total_fall() | currency}}
Spring Semester Balance Due {{year1_direct_costs_total_spring() | currency}} {{year2_direct_costs_total_spring() | currency}} {{year3_direct_costs_total_spring() | currency}} {{year4_direct_costs_total_spring() | currency}} {{year5_direct_costs_total_spring() | currency}} {{year6_direct_costs_total_spring() | currency}}
Estimated Indirect Costs 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022 2022-2023
Room and board {{room[0] | currency}} {{room[1] | currency}} {{room[2] | currency}} {{room[3] | currency}} {{room[4] | currency}} {{room[5] | currency}}
Books and supplies {{books[0] | currency}} {{books[1] | currency}} {{books[2] | currency}} {{books[3] | currency}} {{books[4] | currency}} {{books[5] | currency}}
Personal and transportation {{personal[0] | currency}} {{personal[1] | currency}} {{personal[2] | currency}} {{personal[3] | currency}} {{personal[4] | currency}} {{personal[5] | currency}}

Based on an estimated 5% increase per year for tuition, fees, room and board. Costs are subject to change.

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Undergraduate student loan debt and repayment

Student loans may be necessary to earn your degree and we encourage responsible borrowing.

Example: If you borrow $5500 as a freshman, $6500 as a sophomore, $7500 as a junior and $7500 as a senior with Stafford loans, then you would have $27,000 loan debt. If your parent’s loans were denied or you are an independent student and borrowed an additional $4000 as a freshman, $4000 as a sophomore, $5000 as a junior and $5000 as a senior, then you would have $45,000 in total loan debt.

Estimated Repayment Schedule

Total Education Loans $27,000 $45,000
Standard Repayment Term 10 years 10 years
Assumed Interest Rate 6.8% 6.8%
Monthly Payment $311 $518
Projected Interest Paid $10,286 $17,143

Cumulative Payments:

$37,286

$62,143

Note: The estimated 6.8 % interest rate may vary based on the loan type and date the loan was borrowed.

Graduate student loan debt and repayment

Student loans may be necessary to earn your degree and we encourage responsible borrowing.

Please use the following student loan information as a guide to your estimated debt and repayment schedule.

If you borrow $20,500/year in graduate Stafford loans for two years, then you would have $41,000 loan debt plus an additional $4493 Graduate PLUS loan for two years equals $49,986 in total loan debt.

Estimated Repayment Schedule

Total Education Loans $41,000 $49,986
Standard Repayment Term 10 years 10 years
Assumed Interest Rate 6.8% 6.8%
Monthly Payment $472 $575
Projected Interest Paid $15,620 $19,043

Cumulative Payments:

$56,620

$69,029

Note: The estimated 6.8 % interest rate may vary based on the loan type and date the loan was borrowed.

Finish Your Degree

  • High School Graduate: $34,736
  • Some College: $38,532
  • Associate's Degree: $41,184
  • Bachelor's Degree: $57,252
  • Master's Degree: $68,952

*Latest figures available.

College graduates earn on average of $10,000 more a year than those who started college but never finished a degree.

According to the College Board’s Education Pays Report, if you graduate at age 25 and work until age 65, that’s 40 years X $10,000/year = $400,000 more in lifetime earnings.

The following chart from the U.S. Census Bureau compares the median earnings before taxes of full-time workers aged 25 and older by education level.*

*Latest figures available.

What's Next?

It is important to research and apply for scholarships for which you qualify to help pay for your education. Scholarships are "free money" that you do not have to repay. The more scholarship money you receive, the less you will have to borrow in student loans, and we strongly advise you to keep your loans at a minimum.

View Scholarships

View Scholarships at SouthernCT.edu/scholarships



Southern Connecticut State University has made financial literacy and advising a priority to help students and families by promoting the financial planning process. Schedule a Paying for College meeting with Lew DeLuca, Coordinator of Student Financial Literacy and Advising.

Wintergreen Building, 108E
(203) 392-8862
delucal2@southernct.edu

Schedule a Meeting