Expert: Michael Wall Date: 8/7/2007 Subject: drumming college question
Question QUESTION: at a tuition of 42500, and an income of 20000 per year, how long will it take to begin drum college.
ANSWER: Adam,
By 'drum college' I am assuming that you mean a drum program like McNally Smith or at some college of music. The trouble I would have answering your question is this: I don't know what you spend your money on month to month. You might have house payments, car payments, eat at fancy places every night...I just can't tell. Without a sense of what your budget is now, I don't know what you have left over to save toward drum college.
Also, there is the issue of money for expenses while you are at drum college. Will you continue to work full time while you are there? What are the costs of housing, food, materials, uniforms, etc? Will you have a social life with your band mates? Will there be student clubs or organizations you will want to join and support?
So, the first general issue for you to consider is "How much can I save a year?" Let's say $10,000 as a hypothetical. If the $42, 500 covers all expenses for the whole length of the program, then your answer is clear: work and save for 4.25 years. But, you must adjust this for length of program (is it $42,250 a year and runs for four years? That is a much different story!), additional savings for unexpected expenses, travel, etc.
What we haven't mentioned are the possible places to turn for help: student loans, grants, scholarships, etc. You should check out the financial aid office at the college, and do lots of scholarship and grant work on your own (this was MUCH harder before the Internet!) Ask the financial aid office if there are any foundations associated with the college.
Good luck! A musical calling is a strong one. Enjoy it!
Michael
---------- FOLLOW-UP ----------
QUESTION: If I have no bills and the cost of drum school is 42500 per year and I make 20000 income per year how many weeks will it take me to save for my tuition
Answer Adam,
While I am not overjoyed to receive a bad rating for not answering what seems to be your math homework, and not a question on alumni relations or private schools...let's work this problem out, shall we?
If you know your annual salary, and the number of weeks in a year, you can divide them and get your weekly salary. Then you could divide that into your need of $42250.
You may recall I already told you how long it would take saving $10,000 per year....
