Find out the real cost of your degree

By: The Capella University Editorial Team

Reading time: 3 min read

Forget the sticker price. What matters is your net cost – your total education costs minus grants, scholarships and other funding you won’t have to pay back.

Look beyond tuition

Start with tuition, fees, required materials and living expenses. Then subtract grants, scholarships and any employer or military benefits you qualify for.

Other costs to factor in:

• Room and board. Online students still need to budget for everyday living costs such as food, rent and utilities.
• Books, course materials, supplies and equipment. A computer, course materials, a printer and internet access can add up fast.
• Travel and miscellaneous expenses. Depending on your program, budget for parking, public transit, a phone or a data plan.
• Fees. Some schools may charge for activities or services such as tutoring or career counseling.
• Student loan interest. Loans can cover education costs, but interest adds to what you repay.
   

Stack up funding before you borrow

Grants, scholarships, federal work-study and tuition reimbursement can help you fund your education without borrowing as much.

If grants, scholarships and out-of-pocket funds don’t cover your costs, loans may help fill the gap. Pro tip: it may be helpful to borrow only what you need, even if you qualify for more.

Financial aid calculators can help you estimate how much to borrow and what a loan may cost over time, including interest and monthly payments.

Get clear on your net cost

Before you start a program, get clear on the real cost of your degree and build a plan to pay for it.

Use this formula to estimate your degree’s net cost:

Total tuition + additional expenses – free money = net cost of your degree