Academic Master

Education

The Tabulation of the Cost of University using Three Scenarios and derived at the cost of university for the four years

Introduction

The paper focuses on the tabulation of the cost of university using three scenarios and derived at the cost of university for the four years. Since the university is located in the city of Abbotsford, the research is conducted on the city to understand the price of renting houses and transportation cost in the region. It provides the cost of university when stay alone, when stay with roommates and also when stay with my family. It further provides how the data was conducted, the spreadsheet was created and the challenges experienced when using the spreadsheet.

How information was gathered

Most of the information used in this report was gathered from online websites, academic journals and peer review. A research was conducted based on the area where we intended to live, and in this case the research focused on Abbotsford, BC, Canada. It is because it is the same place where University of the Fraser Valley is located. Again, living around the university would provide an easy way of commuting to college. The data about the locality was gathered using regional site such as Kijiji.com where the prices of house could be found and analyze to decide on the best prices to use when calculating the cost of the rent. In order to obtain more details regarding rental and housing within the city and the university surroundings, we use the Rentboard’s website to analyze prices of houses. Rentboard is a real estate company based in Real Estate Company Abbotsford City (Boyle 12).

Based on the Rentboard prices a simple one bedroom house cost $822 and a simple room for college student cost $654 per month. This can be enough room for a younger family and due to the fact that if I intend to live alone it would be better to rent a simple room which cost about $654.

The information about university college fee was obtained from the University’s website. In order to get accurate information, I accessed the university website and went straight to search for tuition and fee, 2018. The search provided detailed information regarding what the university charges per academic year for Canadian students and foreign students as well. The college fee for the university is based on the credit applied for per student; however, the university required students to register for at least nine credits per semester. The total college fee for first year students is $10,350, which is for new students (University of the Fraser Valley 5).

However, the University Tuition and fee is divided in such a way that each section takes its part from admission fee, medical fee, and tuition fee. It is important to note that the amount or tuition fee of $ 10,350 covers first and second semester for new students. According to the information gathered from the university’s website, the University of the Fraser Valley charges $ 554 per credit, student and ancillary is charged $ 420 and admission fee for students cost $ 720. It is also essential to note that to understand the number of credits needed for graduation, I conducted research using the university website. This helped in understanding the credit required for graduation and other fee which are required for an individual to graduate.

Cost of University when I live on my own

In order to graduate, every student is expected to complete a minimum of 154 credits from the university. It is discovered that the total tuition fee for falls semester is $8,580, SUS Health and Dental is $216, Student & Ancillary Fees is $ 420 and International Administration Fee is $725. However, in the fall semester the total college fee for the studies shall be $ 9,941. It is, therefore, means each academic year I shall spend a total of $ 19,982. It is likely that I shall spend similar amount during my second academic year which $ 19,982. However, in third academic year, the university is expected to increase cost by 5% and this means that the total tuition fee and other cost shall increase by 5%. And in this case, the third year cost shall be $ 10,380 and Fourth Academic year shall be the same $ 10,380. Therefore, the total cost of university tuition and fee shall be $ 40,642.00. The total accommodation fee shall 23,040. This is the cost of renting a house when staying alone in Abbotsford. It is important to note that the price of renting the house is calculated based on Kijiji.com price for houses located at Fraser Canyon.

Cost of University

1st Academic Year

Tuition fee = 8,580.00

Students and Ancillary fee = 420.00

SUS Health and Dental = 216.00

International Administration Fee = 725.00

Total Tuition and Fee for 1st Academic Year = 9,941.00

2nd Academic Year

Tuition fee = 8,580.00

Students and Ancillary fee = 420.00

SUS Health and Dental = 216.00

International Administration Fee = 725.00

Total Tuition and Fee for 2nd Academic Year = 9,941.00

3rd Academic Year

Tuition fee = 8,580.00

Students and Ancillary fee = 420.00

SUS Health and Dental = 216.00

International Administration Fee = 725.00

Subtotal = 9,941.00

Cost Increment 5% = 0.05

Increment = 497.05

Total Fee for 3rd Academic year = 10,438.05

4th Academic Year

Tuition fee = $ 8,580.00

Students and Ancillary fee = $ 420.00

SUS Health and Dental = $ 216.00

International Administration Fee = $ 725.00

Increment = 438.80

= 10,379.80

Total University Cost 1st Academic Year = 9,941.00

2nd Academic Year = 9,941.00

3nd Academic Year = 10,380.00

4th Academic Year = 10,380.00

Total Cost for University for four years studies= 40,642.00

Rent, Housing and accommodation

Rent per month = $ 480.00

Per Academic Year 12 months

= $ 5,760.00

In all academic Year = $ 23,040.00

Total Accommodation = $ 23,040.00

Total Cost of University education when stay alone = $ 64,258.00

However, total cost of the university when living alone is 63,683.00. This cost covers the university tuition and fee, and accommodation for the four year in the University.

Cost of University when I live with roommates

It is important to note that when living with a roommate, the cost of accommodation shall be shared while the cost of university tuition and fee shall remain the same. In this case, we shall stay together with two roommates and I which means the cost of accommodation or cost of renting house shall be shared among the three of us. Since, the cost of renting a house for the four years is $ 23,616.00, it will be shared by the three of us and in this case, it shall cost me $ 7,872.00 top rent a house for the four years in college. Therefore, the cost of University when living with roommates shall be $ 40,642.00 + $ 7872.00 = $ 48,514.00. The cost of university shall be $ 48,514.00 for the four years studies.

Cost of university when stay at home with my family

The cost of university when living with family will be the Tuition and fee plus the cost of transport to and from the university. In this case, the cost of university shall be $ 40,642.00 + $ 3,936.00 which shall be $ 44,578.00. It means that lunch will be taken from the university while the rest of the meals shall be provided at home. It is therefore, means the cost of University when stay at home with my family shall be $ 44, 578.00, for the period of four years.

Process of creating the spreadsheet

Due to the fact that Microsoft office was used to calculate the cost of university, the first step was to create a spreadsheet document. After that the figures were keyed in based on what was being calculated. In order to obtain accurate information, the cost of university when staying alone was calculates. In calculating the cost, the tuition and fee was keyed and other details. In order to get the total sum of what was to being the AutoSum was used for general addition. However, when doing subtraction, multiplication and division, formula was formulated and applied based on the result expected from the calculation. The insert function was also used to generate formulas which were applied in completing various tasks to get the cost of rent and university tuition and fee. It is important to point that the document was saved on the desk as work continues.

Challenges you faced

Working on spreadsheet was challenges because of the formula which was required. The most challenging task was to generate a formula, conduct multiplication and subtraction as well. It was difficult to apply percentage within the document when doing calculation since the percentage sign (%) was appearing on the document after the calculation. Another challenge experience was using the spreadsheet cells. It was challenging to merge cells and to resize to view the whole calculations.

Summary and Recommendation

Based on the calculation of the cost of university using three scenarios of living with either alone, family or roommates, it is evident living with family and commuting daily to work will be the most affordable since it will cost less compared to staying alone and with roommates. The use of spreadsheet was a quite challenging and most of these challenges relate to the calculation using formula which is required when using excel or spreadsheet. However, to address these challenges it is better to conduct practice more often to understand spread well. It is also better to read advance excel booklet and practice budgeting using spreadsheet. It will help in building confidence which make the use of will excel become easy and therefore, the mentioned challenge shall have been addressed.

Works Cited

Boyle, Steve. “The Rise and Fall of Crime in Abbotsford British.”

https://www.abbotsford.ca/Assets/2014+Abbotsford/Planning+and+Development/Planning/Statistics/2014+Abbotsford+Summary+Demographic+Profile.pdf (2018): 1-23

University of the Fraser Valley. “University Tuition and Fee for Winter and Spring 2018.”

http://www.portal.writing4money.com/order-detail.php?o=NTk5MTk= (2018): 1-25.

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