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Finding the Right College - Essay Example

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Summary
The author of the paper states that he decided to pick the New York University to obtain a degree in Statistics and describes the possible college intentions and costs and estimates the total college expense (tuition and boarding). The paper also contains a table of expenditures for college and expected income
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Finding the Right College
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Extract of sample "Finding the Right College"

Finding the Right College College PSU FSU UCLA NYU Yearly tuition and fees 13,606 14,535 21,021 19,343 Room and board 9,842 8,878 9,833 11,780 Yearlytotal
23,448
23,413
30,854
31,123
Annual scholarship
10,000
10,000
10,000
10,000
Number of years required
4
5
4
4
Total college cost without scholarship
93,792
117,065
123,416
124,492
10 years monthly payment with scholarship
619.04
771.79
959.95
972.34
Monthly savings for 10 year loan payment with scholarship
460.32
575.4
460.33
460.32
Suggested salary to repay 10 year loan
74,284.80
92,614.80
115,194
116,680.80
20 years monthly payment with scholarship
410.62
511.93
636.75
644.96
Monthly savings for 20 year loan payment with scholarship
305.33
381.67
305.33
304.34
Suggested salary to repay 20 year loan
49,274.40
61,431.60
76,410
77,395.20
Possible college intentions and costs
As it is a well-known fact that good quality comes at a high cost in recent times. This applies to academics too. Hence accepting the fact that cost overrides high quality, I had decided to pick the New York University to obtain a degree in Statistics. It gives me a choice of either deciding to stay at my relative’s residence or board a room in the campus. Staying in the college vicinity would reduce my transportation costs and save time. Both choices will also enable me to even take up odd jobs while in college that could support my education costs.
Total cost for my decision
The total college expense (tuition and boarding) would be around $124,492. The college provides various scholarships and grants that rate up to $10,000 a year. Hence my yearly college expense will be around $114,492. However, considering the high boarding charges, staying at home would reduce my yearly expenses by $11,780. Though the cost seems to be pretty high, a degree from a reputed institution would lead to a great future.
Career choice
Considering the value of a degree obtained from New York University, several openings are available all around the US. Being a graduate in Statistics, I have the choice of entering into medical research, business research or finance accounting. For a career in Statistics, the salary package ranges from $29,000 - $197,000. I have mentioned a few concerns that offer glossy salary: Smith Hanley Consulting Group, PharmaNet, ClinForce, McGrath Systems and Robert Half Finance & Accounting U.S.
For a Statistician/Statistical Programmer at Smith Hanley Consulting Group and PharmaNet, the pay ranges from $50,000 - $70,000 per year. Being a biostatistician at ClinForce, I would eventually received $65,000 in a short span. Hence staying at home, I would be able to pay my loan in a 10 year span with this salary.
I could even consider being placed at McGrath Systems and Robert Half Finance & Accounting U.S.as Cost Research Analyst or Accountant. The pay ranges from $40,000 - $50,000 per year. All the jobs may enable me to pay back the loan in a 20 year plan if I consider staying at my relative’s residence during college.
With research, I have found that acquiring just a degree in Statistics would not help me to land up in such high profile jobs. Though the degree would enable me to obtain a decent job, I will have to enhance my skills and experience to obtain higher positions in my chosen career.
Bibliography
NYU
http://admissions.nyu.edu/financial.aid/scholarships.html
http://www.nyu.edu/financial.aid/forms_and_apps.html
http://www.nyu.edu/bursar/tuition.fees/rates08/ugstern.html
http://w4.stern.nyu.edu/uc/currentstudents/financialaid.cfm?doc_id=5063
http://education.yahoo.com/college/facts/7773.html
PSU
http://www.psu.edu/studentaid/scholarships/schmain.shtml?reload
http://collegecostestimate.ais.psu.edu/isapi/CollegeCostEstimate.dll/submit
FSU
http://gradstudies.fsu.edu/Funding-Awards/Tuition-Waivers-and-Fees
2008-2009 tuition and fee rates (pdf 14.55 kB)
http://education.yahoo.com/college/facts/6354.html
UCLA
http://www.fao.ucla.edu/uclascholarships/
http://www.admissions.ucla.edu/prospect/budget.htm
Loan payment calculator
http://www.finaid.org/calculators/loanpayments.phtml
Careers and Salaries
http://www.careerbuilder.com/
http://www.careerexplorer.net/descriptions.asp Read More
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