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Facts and Tips

commencement$75,542 =  cost to attend Southern for an additional year plus the estimated loss of first year's annual starting salary for college graduates, according to nace.com.  SAVE MONEY by graduating in four years!

$57 = cost for every 2017-18 class.  Go to class!

-2% savings rate for adults < 35; 3% for 35-44, 6% for 45-54 and 13% for 55 and older.  Moody's Analytics study

70% of College Students Stressed about Finances article

Changing Profiles of Student Borrowers report

Student loan Debt:

  •  More than 40 million Americans have such debt in excess of $1.4 trillion (and $2 trillion by 2020 on current trend).

  • Edvisors reports that 70% of 2014 college graduates have nearly $33,000 in debt.

  • Recent Southern alumni median loan debt is $24,744 and average repayments of $288 monthly.

  • National college 4 year loan default rate is 11.3%.

  • Southern has a 5.8% loan default rate.

  • 7 Ways to Save on Student Loans article

  • Keep student loan debt less than your starting salary

  • It’s much cheaper to save money than to borrow it

  • Money is important as is sound financial guidance

  • Three ways to graduate college student loan debt free

“Live like a student in college, so that you don’t have to live like ONE after graduation”

 

Financial aid refunds often result from the over borrowing of student and/or parent loans. Read more.   

 

How to save money while in college:

  • Buy used or rent textbooks

  • Use college student discounts

  • Use prepaid meal plan instead of eating out

  • Resist impulse buying and buy what you need using coupons and sales

  • Stay healthy to avoid medical bills

  • Understand your cell phone plan

  • Brew your own coffee

  • Make a budget and stick to it

  • Keep good records of all your finances

Net price = Cost of Attendance – Gift Aid

Net Cost = Cost of Attendance – Financial Aid

Financial Need = Cost of Attendance – EFC (estimated family contribution)