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College & Money

College & Money. c/MAJ Colin Pothoff. Why Go To College?. Questions: Do you need to go to college to be rich? Do you need to go to college to be famous? Do you need to go to college to succeed in life?. Unemployment Rates. How Does College Pay Off?.

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College & Money

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  1. College & Money c/MAJ Colin Pothoff

  2. Why Go To College? • Questions: • Do you need to go to college to be rich? • Do you need to go to college to be famous? • Do you need to go to college to succeed in life?

  3. Unemployment Rates

  4. How Does College Pay Off? • It increases your employment opportunities • It makes it easier for you to relocate • It makes you employable • It usually increases the amount of money you are paid

  5. Working For a Pay Check • $7.25/Hour = $290W - $1,160/M - $13,920/Y • $ 8.00/Hour = $320W - $1,280/M - $16,640/Y • $ 9.00/Hour = $360W - $1,440/M - $18,720/Y • $10.00/Hour = $400W - $1,600/M - $20,800/Y • $12.00/Hour = $480W - $1,920/M - $23,040/Y

  6. Paying The Bills! • $12.00/Hour = $23,040/Y • $23,040 - $9,600/Y – Rent @$800/M • $13,440 - $3,000/Y – Utilities @$250/M • $10,440 - $2,400/Y – Gas For Car @$200/M • $8,040 - $900/Y – Insurance @$75/M • $7,140 - $5,200/Y – Food @ $100 per week • $1,940 – Clothes, Social Life & Vacations

  7. How Does College Pay Off? • Note that these are only estimates and it is not a guarantee that you will make this amount of money when you graduate! • AA/AS - $30 - $35,000 Per Year • BA/BS - $37 - $47,000 Per Year • MA/MS - $50 - $80,000 Per Year • PHD/MD – 100,000+

  8. High School Drop Out • From 18 to 74 years of age. Earning $20,800/year. • Life time - $1,164,800 • Annual - $20,800 • Monthly - $1,733 • Weekly - $433

  9. High School Graduate • From 18 to 74 years of age. Earning $24,600/year. • Life time – $1,377,600. • Annual - $24,600. • Monthly - $2,050. • Weekly - $512.

  10. Associates/Associates Science • From 20 years to 74 years of age. Earning $32,500/year. • Life time - $1,755,000. • Annual - $32,500. • Monthly - $2708. • Weekly - $677.

  11. Bachelors/ Bachelors Science • From 22 to 74 years of age. Earning $42,000/year. • Life time - $2,184,000. • Annual - $42,000. • Monthly - $3500. • Weekly – $875.

  12. Masters/ Masters Science • From 24 to 74 years of age. Earning $65,000/year. • Life time - $3,250,000. • Annual - $65,000. • Monthly - $5,416. • Weekly - $1,354.

  13. Professional Degree • From 28 to 74 years of age. Earning $110,000/year. • Life time - $5,060,000. • Annual - $110,000. • Monthly - $9166. • Weekly - $2291.

  14. The difference! • The difference between life time earnings are: • Drop out – High School Graduate • $212,800. • High School Graduate – Associates • $377,400. • Associates – Bachelors • $429,000. • Bachelors - Masters • $1,066,000. • Masters – Professional • $1,810,000.

  15. Scholarship Information: • www.aiuniv.edu • www.gacollege411.org • www.fastweb.com • www.collegeandfinance.com • www.wacky-scholarships.com • www.fafsa.gov.ed

  16. Make It Happen!!! • $43,000/Y - $11,610 Taxes & Insurance • $31,390 - $9,600/Y – Rent @$800/M • $21,790 - $3,000/Y – Utilities @$250/M • $18,790 - $2,400/Y – Gas For Car @$200/M • $16,390 - $900/Y – Insurance @$75/M • $15,490 - $5,200/Y – Food @$100 per week • +$10,290

  17. Words of wisdom • College or die. Simply put!

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