Estimate future costs of two following colleges for your (future) child (or grandchild) and calculate needed annual savings for two colleges. Please specify your assumptions for computation of future costs and needed annual savings.

Yale University

Syracuse University

http://www.yale.edu/printer/bulletin/htmlfiles/architecture/tuition-and-fees.html

Tuition and Fees

TUITION

The tuition fee for the academic year 20152016 is $46,500. This tuition fee includes health care services under Yale Health, but does not include the hospitalization insurance fee. The Corporation of Yale University reserves the right to revise tuition rates as necessary.

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FEES

An annual fee of $1,100 is charged to the Student Financial Services bill for use of the School of Architectures shops, computers, printers, and other equipment furnished by the School. This mandatory fee applies to all students and is refundable only upon withdrawal from the School, according to the tuition rebate and refund policy itemized below.

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TOTAL COST OF EDUCATION

For a single student living off campus in the 20152016 academic year, a reasonable, albeit modest, estimate of total cost may be estimated by the following costs to be $68,605 for first-year M.Arch. I students and $66,893 for all other students.

	First-Year M.Arch. I	All other students
Tuition	$46,500	$46,500
Fees	1,100	1,100
Yale Health Hospitalization/Specialty Coverage	2,176*	2,176*
Room and Board	14,044	12,767
Books/Personal Expenses	4,785	4,350
	______	______
	$68,605	$66,893

http://financialaid.syr.edu/costofattendance/undergraduate/

The Cost of Attendance is an estimate of what it will cost to attend Syracuse University for an academic year.

There are two types of expenses that make up the Cost of Attendance:

Direct Expenses

Indirect Expenses

The following chart lists the Cost of Attendance for the 2015-16 academic year.

Direct (Billable) Costs			Other Indirect Expenses (Average)
Tuition	$41,794		Books & Supplies	$1,412
Housing & Meals	$14,880		Transportation	$642
Miscellaneous Fees	$1,524		Personal Expenses	$990
Total	$58,198		Total	$3,044
Subtotal (without health insurance)	$61,242
Health Insurance	$1,890*
Total Cost of Attendance	$63,132

*This mandatory fee may be waived if student has adequate private health insurance. Read more.

2015-16 Health Insurance rates:

$1890 for students required to purchase the Health Insurance plan

$2742 for students voluntarily purchasing the Health Insurance plan

The cost of attendance may vary based on your program of study and program fees. Charges for tuition, housing, meals, and fees are subject to an annual increase to secure the highest quality instruction, facilities, programs, and services. The University considers carefully all increases in fees to ensure that they are reasonable. Students and families should plan for annual cost increases and be prepared for the financial commitment.

The total of all student financial assistance cannot exceed the Cost of Attendance.

1. Make sure that you include accurate information and citation source (20 points).

2.Using the tuition and related information in (1), you need to compound it at a reasonable "inflation" rate for education-related expenses for x number of years. I hope most of you are aware that educational inflation has been much higher than overall inflation in the economy, (You can find 'tuition inflation' statistics from the internet. Use google.com and search for tuition inflation or education inflation)

3.After you calculate this projected cost, your next job is to find the annual deposit needed to accomplish the goal - meeting the educational expenses. You assume the investment rate of return (You can use 'savings account rate as your investment rate of return, for example). Recall the equations or time value of money table we went over in class. You will choose the one that will give you the amount of the annual deposit