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Paying for College

I am attending Marquette University. I am majoring in Marketing, meaning I am in the College of Business. According to the MU Bursar, a student in the College of Business Administration attending full time (12 or more credit hours) will pay $19,000 a semester, or $38,000 per year. MU estimates housing and food at $11,440 per year, books at $1,008 per year, and fees at $470 per year. Total per year cost is $50,918. If I graduate in 4 years, I will owe $203,672. With scholarships, grants and my parent's help, I will reduce my debt by 50%, meaning I will owe $101,836. 

The current federal interest rate on subsidized student loans is 4.29%. I will make monthly payments of $503.36. I will pay off my debt in 30 years. I will pay $79,373.23 in total interest. 

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