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Monday, July 16, 2012

Five Fabulous Things You Can Do With Money Saved by Scholarships

I don’t know how much your dream school costs. Maybe $10,000 per year. Maybe $100,000 per year. Regardless, what could you do with all that money you’re not spending on school because you’re funding college through scholarships?

1.     $20,000 (a $5,000/year school) = 40,000 Krispy Kreme doughnuts (and a stomachache)

2.     $40,000 (a $10,000/year school) = $1,256,376.80 if you invest it at 9% annual compound interest for the next 40 years until you retire (not only did you fund scholarships through college, you became a millionaire because of it!)

3.     $60,000 (a $15,000/year school) = 0.92 nights in the Royal Penthouse Suites in Geneva, Switzerland (What’s 0.92 nights? I don’t know. It’s kind of like having 2.4 kids.)

4.     $120,000 (a $30,000/year school) = a nice little uninhabited island in Fiji (in case you went to college to be a hermit)

5.     $200,000 (a $50,000/year school) = 5 minutes in space aboard Virgin Galactic (do you realize that’s $667 per second?!)

Okay, so even if you don’t do any of those things, you have to admit—it’ll be nice to have the extra cash you’ll get from funding college through scholarships.