Thursday, November 14th MATHEMATICAL COMPUTATIONS THE PRICE OF COLLEGE By Avra Saslow 1) The R2 correlation coefficient represents the

e percentage of the total variation in the y-values. It helps accurately chart the line. If the R2 correlation coefficient is closer to 1, then the line is more accurate. For Claremont Mckenna, the R2 correlation coefficient for cost of tuition per year is as follows: R = 0.99048. The equation for the cost of tuition per year is y = 1961.3x + 25373. The cost of tuition and fees per year for Claremont Mckenna has an equation of y = 1961.3x + 40498 and a R2 correlation coefficient of 0.99048. Gonzaga Universitys cost of tuition per year has an equation of y = 1452.5x + 19280 and a R2 correlation coefficient of 0.99884. Its cost of tuition and fees per year has an equation of y = 1452.5x + 29532 and a R2 correlation coefficient of 0.99884. 2) For Gonzaga University and Claremont Mckenna College, the average percent increase of tuition over the past ten years is 4%. This does directly correlate to whether you are at a private or public institution because a private institution already has a higher starting price whereas a public institution has a lower starting price. Even if they have the same increase rate, lets say 5%, the private institution ($50,000) will increase $2,500 a year, while the public institution ($10,000) will increase $500 a year. So even if the average percent increase is the same for both a public and a private school, you will still have to pay more for the private school. Claremont Mckenna College:

Gonzaga University:

3) My anticipated average tuition percent increase of my undergraduate career is 3% for both Gonzaga University and Claremont Mckenna College. Claremont Mckenna College

Gonzaga University

4) For Claremont Mckenna College, the two academic years where the tuition increased the most was between the years 2010-2011 to 2011-2012, where the tuition increased from $38,510.00 to $41,995.00. That is a $3,485 increase in tuition. Most of the years increased by $1000 to $2000, but this is the only example of a $3000 increase. Some factors that could have contributed to this

would be that our country had recently begun the recession, or that there may have been a surge in kids applying for college. For Gonzaga University, the biggest tuition increase was in the years 2008-2009 to 2009-2010. The recession started in 2008, so I think that this tuition increase is mainly due to the recession. The tuition increase between these years for Gonzaga was $1,704. It was quite common for the tuition price to increase this amount, generally, but this was the highest numberbut not by too much. 5) The cost of tuition and fees for an undergraduate degree at Claremont Mckenna is $267,902.20, whereas the tuition cost for Claremont Mckenna is $207,402.20. For Gonzaga University, the cost of tuition and fees for four years would be $196,563.00 and the cost of just tuition for the same period of time is $155,555.00. Claremont Mckenna College Total Tuition Cost For An Undergraduate Degree

Claremont Mckenna College Total Tuition & Fees Cost For An Undergraduate Degree

Gonzaga University Total Tuition Cost For An Undergraduate Degree

Gonzaga University Total Tuition & Fees Cost For An Undergraduate Degree

7) Claremont Mckenna College Standard Fixed Repayment Plan (120 months): $3,083.03/month with a total loan payment of $369,963.28 and a total interest payment of $102,061.08. Initial loan was $267,902.20. Extended Fixed Repayment Plan (300 months): $1,859.43/month with a total loan payment of $557,830.33 and a total interest payment of $289,928.13. Initial loan was $267,902.20. Standard Graduated Repayment Plan (120 months): $1,778.33 for the first 1-2 years, $2,340.42 for years 3-4, $3,080.17 for years 5-6, $4,053.74 for years 7-8, and $5,334.99 for the last 9-10 years. The total loan payment is $398,101.84 and the total interest payment is $130,199.64. Initial loan was $267,902.20. Extended Graduated Repayment Plan (300 months): $1,518.11 for the first 1-2 years, $1,590.57 for years 3-4, $1,666.48 for years 5-6, $1,746.02 for years 7-8, $1,829.02 for years 9-10, $1,916.66 for years 11-12, $2,008.14 for years 13-14, $2,103.98 for years 15-16, $2,204.40 for years 17-18, $2,309.61 for years 19-20, $2,419.84 for years 21-22, $2,535.33 for years 23-24, and $2,656.33 for the 25th year. The total loan payment is $604,218.46 and the total interest payment is $336,316.26. Initial loan was $267,902.20. Gonzaga University

Standard Fixed Repayment Plan (120 months): $2,262.05/month with a total loan payment of $271,446.42 and a total interest payment of $74,883.42. Initial loan was $196,563.00. Extended Fixed Repayment Plan (300 months): $1,364.29/month with a total loan payment of $409,286.68 and a total interest payment of $212,723.68. Initial loan was $196,563.00. Standard Graduated Repayment Plan (120 months): $1,304.78 for the first 1-2 years, $1,717.19 for years 3-4, $2,259.95 for years 5-6, $2,974.27 for years 7-8, and $3,914.34 for the last 9 and 10 years. The total loan payment is $292,092.20 and the total interest payment is $95,529.20. Initial loan was $196,563.00. Extended Graduated Repayment Plan (300 months): $1,113.86 for the first 1-2 years, $1,167.02 for years 3-4, $1,222.72 for years 5-6, $1,281.08 for years 7-8, $1,342.22 for years 9-10, $1,406.28 for years 11-12, $1,473.40 for years 13-14, $1,543.72 for years 15-16, $1,617.40 for years 17-18, $1,694.59 for years 19-20, $1,775.47 for years 21-22, $1,860.21 for years 23-24, and $1,948.99 for the 25th year. The total loan payment is $443,321.09 and the total interest payment is $246,758.09. Initial loan was $196,563.00. 9) Claremont Mckenna Standard Graduated Function: y = 427.96x + 963.76 Standard Fixed Function: y = 6E-13x + 3083 Extended Graduated Function: y = 46.732x + 1406.6 Extended Fixed Function: y = 1859.4 Gonzaga University Standard Graduated Function: y = 314x + 707.12 Standard Fixed Function: y = 6E-13x +2262.1 Extended Graduated Function: y = 34.288x + 1032.1 Extended Fixed Function: y = -1E - 13x + 1364.3 10) Gonzaga University would be the least expensive choice out of the two colleges. Compared to Claremont Mckenna, for all 4 years of schooling, Gonzaga University is $71,339.20 less in tuition and fees, and $51,847.20 less in just tuition. The difference in overall money paid back to the government would be: $98,516.86 (Standard Fixed), $148,543.65 (Extended Fixed), $106,009.64 (Standard Graduated), and $160,897.37 (Extended Graduated). The difference in interest needed to pay back the government between Claremont Mckenna and Gonzaga is: $27,177.66 (Standard Fixed), $77,204.45 (Extended Fixed), $34,670.44 (Standard Graduated), and $89,558.17 (Extended Graduated). The difference in the initial loan is the same as the difference in tuition and fees: $71,339.20.