Calculate Your Future with This Handy Tool
Aug 14, 2020
By : Edukasyon News
We can all agree that your college education is one of the biggest investments you and your parents will make in your lifetime. It’s just like buying stocks or investing in real estate, but in this case, you’re not only putting in money – you’re also putting in your own time and hard work.
On top of helping you learn valuable skills, you’re investing for a degree that can open doors to future career opportunities, aka higher paying jobs, that’ll definitely help your future self!
But as college tuition and other education expenses continue to rise (think: dorm, allowance, books, etc.) and also vary across institutions, locations or programs — it’s essential that you understand your estimated return on investment (ROI), to plan ahead and get a better picture of your future.
What is ROI?
Return on investment (ROI) is a financial ratio used to calculate the benefit an investor will receive in relation to their investment cost (Corporate Finance Institute). In non-business and less adult terms, your return on investment is basically the future value you can expect after putting in your money for college today.
How is it calculated?
ROI is most commonly measured as net income divided by the original capital cost of the investment (Corporate Finance Institute). So for students, it’s your future salary divided by your total college expenses which can be broken down to these factors: A. College Application Fees & Tuition, B. Daily Allowance, C. Relocation Expenses.
Complicated, no? That’s why Edukasyon.ph is here to make it easy for you. We created a new interactive Education Calculator that’ll help you estimate your ROI from your college education!
How does it work?
We use data from our 500+ school partners nationwide to identify the semestral fee of your dream course. Then to get a more accurate number of your total learning investment, we factored in the average expenses that you’ll need as a student, such as the cost of living away from home and your daily allowance.
After computing your total learning investment, this tool will also evaluate how long it will take for you to earn that money back. We’ve listed career options with their average salary from our career page that you can choose from.
Once you put in all the necessary information, we will automatically generate your total learning investment and the estimated timeline for your Education ROI. Tadaaa! You can even see how long it’ll take you to earn back your first million (minus the weekly online shopping, syempre).
How helpful is it?
This ROI calculation is a projected estimate and we cannot guarantee 100% accuracy. However, it’s one of many helpful tools you can use in planning for a future less scary. Here’s how the results can help your decision-making process:
- Total Investment: We estimated the average college expenses and added the total cost of your chosen course and university (so that you’re not just thinking of tuition alone). This can help you and your parents prepare for your college fund or scholarship hunt!
- Years To Recover: According to Investopedia, the desirability of an investment is directly related to its payback period. Is this a priority for you? Use our estimated numbers based on our career database to help you get started and compare your options.
- Path To Your First Million: The major and career path you choose can make a difference in your future paychecks. Check out which career options can make the big bucks!
When you’re a graduating SHS student, thinking about your return on investment for your college education might be overwhelming. (It’s hard to even plan what classes and college major to take, let alone the expenses and your future career!) But the amount of time and effort you spend preparing for your future can ease the transition, better inform your decisions, and help you get more out of the experience.
Test out the calculator here and share your result on Facebook, Twitter, and Instagram and tag us @edukasyonph!
Still browsing school options or, better yet, ready to apply? We’ve got you covered with school discovery, comparison and online applications — start here!
We want to hear from you! We’re always looking to improve our tools and platform. Send us an email at email@example.com if you have comments or suggestions regarding our new Education ROI Calculator.
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