How to Budget College Tuition and Loans Using Excel

Are you trying to budget the cost of college tuition? Are you afraid your student loans are getting out of control? Here is a way to control your college spending in a few simple steps.

Steps

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    Calculate the total tuition cost for your degree program. Most colleges or universities have tuition information on their website. If you have already attended a semester of college, you should know the cost of tuition.
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    Open Microsoft Excel on your computer by going to the start button and selecting Microsoft Excel.
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    Give your spreadsheet a title such as "College Tuition Budget."
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    List each semester you will attend school starting in cell A4.
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    List all college expenses such as tuition, books, and room/board starting in cell B3.
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    List all known or estimated cost associated with each semester including those semesters not yet attended.
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    Total cost for each semester using the "AutoSum" feature.
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    Use column F for any scholarships or financial aid that does not require repayment.
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    Use column G to estimate the maximum loan required for your education by entering the following formula in cells G4 and dragging it through the remaining cells. =E4-F4
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    Total the amount in column G. This should be the estimated total amount for your student loans. (Use the AutoSum feature in Excel.)

Tips

  • For this student, the approximate amount that he should accumulate in student loans is about $15,200. Borrowing more than $1,900 per semester could put him in unnecessary student loan debt.

Sources and Citations

Article Info

Categories: Microsoft Excel