Degree Total Cost Calculator
The full cost of a degree over all its years — tuition rising each year, fees, books, living costs, less scholarships — and the earnings given up to study.
A degree costs more than the tuition on the brochure, and the brochure is for this year: tuition usually rises annually, so later years cost more.
How the degree total cost calculator works
A degree costs more than the tuition on the brochure, and the brochure is for this year: tuition usually rises annually, so later years cost more. The calculator grows tuition by the yearly increase, adds fees, books and living costs for each year, and subtracts scholarships and grants.
The all-in figure adds what studying prevents you earning. That opportunity cost is real, often the largest item, and routinely left out.
Formula: tuition total = Σ tuition × (1 + increase)ʸ for each year; net cost = tuition total + fees + books + living − scholarships; all-in = net cost + forgone earnings
Worked examples
| Inputs | Net cost of the degree | Note |
|---|---|---|
| Four-year degree | $99,036.27 | tuition 41,836.27 over four years |
| With earnings given up | $99,036.27 | net cost unchanged; all-in 239,036.27 |
| Three years, no increase | $65,550.00 | 27,750 + 1,800 + 36,000 |
FAQFrequently asked questions
Why grow tuition each year?
Because institutions raise it, typically by a few percent a year, and a four-year degree pays four different prices. Entering this year's tuition with no increase understates the total by several percent; the annual-increase field corrects it.
Should living costs count? I would have to live anyway.
Count the living costs that studying causes — accommodation near campus, a second household, travel — rather than all of them, if you would otherwise live at home. Whatever you enter is added for every year, so decide first what belongs.
What are forgone earnings?
The pay you would have earned in the years spent studying instead of working. It is the largest cost of many degrees and never appears on an invoice; enter a realistic full-time figure for the job you would otherwise take.
Does this include loan interest?
No. It is the cost of the degree itself, before financing. If the cost is borrowed, the interest on top depends on the loan terms and belongs in a loan calculator with the total from here as the principal.
Where these figures come from
- Brysbaert (2019), Journal of Memory and Language — How many words do we read per minute? — the 238 wpm silent reading rate, from 190 studies
- Tertiary Education Quality and Standards Agency — the Australian higher education regulator
Last checked: September 2026. Reading and writing rates are from published meta-analyses, cited on the page.