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Annual Costs

Undergraduate Tuition

Tuition for Professional Skills Institute is $13,168 for the 2017/2018 academic year. This is 5% cheaper than the national average private for-profit two year college tuition of $13,857. The cost is 27% more expensive than the average Ohio tuition of $10,375 for 2 year colleges. Tuition ranks 63rd in Ohio amongst 2 year colleges for affordability and is the 24th most expensive 2 year college in the state. Price does not vary by residence.

The school charges an additional fees of $2,223 in addition to tuition bringing the total effective in-state tuition to $15,391.

Housing Costs

Professional Skills Institute doesn't offer on campus housing. If you're not living with family you will need to budget for food and housing in the Toledo area just like you would for a college with dorms. The estimated rent and meal expense per academic year for off campus housing is $13,296.

Books and Supplies

The estimated annual cost for books and supplies is $1,375.

Other Living Expenses

Off-campus students should budget for $6,996 in other miscellaneous living expenses.

Total Costs

The annual tuition and living expense budget to go to Professional Skills Institute was $37,058 for the 2017/2018 academic year. The cost is the same for all students regardless of Ohio residence status as there is no in-state discount. Students residing at home with parents providing food and housing can expect a total cost of $23,762.

Citation: Price data from the U.S. Department of Education's 2017-2018 and 2016-2017 IPEDS survey response for Professional Skills Institute and represent reported costs for the 2016-2017 and 2015-2016 academic years.

Costs and Tuition for Professional Skills Institute
Estimated Budgets
Ohio Resident Total Budget (Living Off Campus)$37,058
   In-State Tuition$13,168
   Other Fees$2,223
   Off-Campus Housing Budget$13,296
   Off-Campus Other Budget$6,996
   Books and Supplies$1,375
Ohio Resident Total Budget (Living with Parents)$23,762
   In-State Tuition$13,168
   Other Fees$2,223
   Family Provided Room and Board$0
   With-Family Other Living Budget$6,996
   Books and Supplies$1,375
Non-Resident Total Budget (Living Off Campus)$37,058
   Out-of-State Tuition$13,168
   Other Fees$2,223
   Off-Campus Housing Budget$13,296
   Off-Campus Other Budget$6,996
   Books and Supplies$1,375

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What it Really Costs

Depending on many factors including student and parent income and assets, the total cost of attendance may be less than the $37,058 published price if scholarship or grant aid is made available to you.

Net Price

The net out-of-pocket total cost you end up paying or financing though student loans is known as the net price. The reported Professional Skills Institute net price for in-state students is $28,055* for the 2014/2015 academic year. This net price includes housing and meal expenses.

Pell Grants and other Grant Aid

95% of Professional Skills Institute students received grant aid in 2014/2015. The average total aid amount was $3,805. 95 percent of students received aid in the form of Pell Grants from the U.S. Federal Government. The average Pell Grant awarded for 2014/2015 was $3,805. To apply for a Pell Grant to attend Professional Skills Institute, the first step is to fill out the Free Application for Federal Student Aid (FAFSA).

Net Price and Financial Aid for Professional Skills Institute
Financial Aid Summary
Average Annual Net Price$28,055*
Percent of Students Receiving Grant Aid95%
Average Total Grant Aid$3,805
Percent of Students Receiving Pell Grants95%
Average Amount of Pell Grant Aid$3,805

Average Net Price by Family Income

The average net total cost of attendance for different levels of family income after federal, state or local government, institutional grant and scholarship aid are awarded. Data last published for the 2014/2015 academic year.

Family Income Avg. Net Price
$0 to $30,000$27,554
$30,001 to $48,000$28,850
$48,001 to $75,000n/a
$75,001 to $110,000n/a
$110,000+$31,423

Average Financial Aid Mix - $37,058 In-State Total Cost

CollegeCalc has estimated typical coverage of the annual in-state tuition and living expenses of $37,058. Breakdown is based on average grant aid and federal loan aid which will vary based on your family income.

13%
28%
60%

Grants and Scholarships

 13% - $3,805

Money granted to you by the U.S. Department of Education, Professional Skills Institute or other organizations. These are not loans and do not need to be repaid.

Federal Loans

 28% - $8,325

Low interest student loans funded by the U.S. Department of Education. This amount will need to be repaid.

Out of Pocket

 60% -  $17,932

Covered by family savings, work or private student loans which you will have to repay.


*Reported Average Annual Net Price for students receiving grant or scholarship aid reported to the U.S. Department of Education's Academic Year 2014-2015 IPEDS Survey. Financial aid is only available to those who qualify. Consult this school's net price calculator for further understanding of your potential net price.

Note that for colleges with no reported on-campus room and board, the average net price has been increased to account for living expenses. This number may not only reflect the net price paid to the school for tuition.

Tuition Comparison to Similar Private Colleges in the Region

School Cost vs. Professional Skills Institute
Lincoln College of Technology Toledo9.7% less expensive
Stautzenberger College Maumee3.1% less expensive
Davis College4.3% less expensive
Brown Mackie College Findlay10.6% less expensive
Ohio Business College Sandusky35.8% less expensive

Cost of a Degree

Being a school offering two year programs, prospective students should consider the multi year outlay when budgeting the cost for two years at Professional Skills Institute.

Estimated 2 Year Cost at Published Tuition

At the current published rates, an estimated total tuition, fees and living expense price for a 2 year associate degree at Professional Skills Institute is $74,116 for students graduating in normal time. This methodology for estimating the 2 year cost is a straight multiple of the most recent reported annual total cost and does not factor in tuition increases during the time you're in school. It also assumes you receive no grant or scholarship aid and pay the full list price.

A potentially more accurate but less conservative estimate of a degree cost can be made by using the school's annual $23,217 in-state net price as the basis. Applying this cost over 2 would estimate the cost of a degree at $46,434**

**Based on a 2 year multiple of Average Annual Net Price for students receiving grant or scholarship aid reported to the U.S. Department of Education's 2014-2015 IPEDS Survey. Financial aid is only available to those who qualify. Consult this school's net price calculator for further understanding of your potential net price.

Other Costs

Student Loans and Debt

The second consideration after understanding the cost of college is determining how to finance it. Some students are fortunate enough to have some form of family financial assistance, but student loans end up financing a significant portion of higher education in the U.S. 90% of Professional Skills Institute students receive U.S. Federal Student Loans with an average annual Federal Loan aid amount of $8,325.

Example Loan Payments and Costs

How much are student loan payments for Professional Skills Institute? Obviously this varies based on a number of factors - offsetting financial aid you receive, percentage of fee you pay upfront while enrolled and the interest rate on your loans. We've modeled a sample student loan based on current Stafford loan rates to give you an approximate idea.

The following are the costs for a loan if you borrowed $46,434, 100% of the estimated average net price for a two year program and paid nothing while enrolled. The total of all payments including interest would sum $57,613.95. This could be your effective total out of pocket cost of an education at Professional Skills Institute. Note that this calculation assumes you don't pay full list price tuition, are part of the reported 95% of students at this school who receive financial aid and you are paying an average annual net price of $23,217. If you do not financially qualify for a reduced net price, your student loan payments could be significantly higher than this example. Use our Professional Skills Institute student loan calculator below to change loan assumptions and recalculate.

Student loans are not free money and must be repaid. You cannot dismiss student loans by via bankruptcy.

Professional Skills Institute Student Loan Payments
Example Payments
Monthly Loan Payment$480.12
Amount Borrowed$46,434.00
Interest Rate4.5%
Term10 years
Number of Monthly Payments120
Total Interest Cost$11,179.95
Sum of All Payments over 10 years$57,613.95

Affording Student Loan Payments and Post Graduation Salary

Can I afford to attend Professional Skills Institute? In the end, the answer comes down a determination if you will earn enough to comfortably pay back a student loan with your post graduation salary. This is an extremely important point to consider. In order to afford student loan payments and still meet all your other costs of living, it is recommended not to borrow more than you can pay back using 10% of your monthly income earned after graduation. If you're considering attending Professional Skills Institute, you need to carefully consider if it will be realistic to make the post graduation loan payments based on your expected salary.

Using the 10% of salary threshold, an annual income of $57,613.95 would be needed to afford a $480.12 monthly payment in the example $46,434.00 loan modeled above. You will need to determine if it is at all realistic that you will be earning this type of salary after graduation. This assumes a loan payback over 10 years. You can change the terms of this example loan using the student loan calculator below.

Estimated Future Cost and Expected Tuition Increase

What will it cost to send your child to Professional Skills Institute in the future? In the past four years, this school's published in-state tuition and fee total rose from $12,350 to $13,168. This amounts to an average annual price increase of 1.3%. Nationally, university tuition prices are rising around 5% per year. Looking out five, ten, fifteen or eighteen years, these are CollegeCalc's estimates how much you could expect to pay for a 2 year degree assuming tuition increases at the national average rate. Estimated future prices are based on the current 2 year cost of $74,116.00. Use the college savings plan calculator below to perform a more comprehensive analysis on future costs and how much you will need to save for Professional Skills Institute.

Annual2 Year Degree
Estimated Cost in 5 years for students enrolling in 2024$48,479$96,958
Estimated Cost in 10 years for students enrolling in 2029$61,873$123,745
Estimated Cost in 15 years for students enrolling in 2034 $78,967$157,934
Estimated Cost in 18 years for students enrolling in 2037 $91,414$182,828

Comparable Cost for Popular Majors

We've compared the out of state cost of the most popular undergraduate areas of study at Professional Skills Institute to the national average for all other colleges offering the same major. Use this comparison to determine particular programs where this school offers value relative to other colleges.

Area of Study Graduates vs National Avg
Physical Therapy Technician/Assistant Associate's Degree 52 85% costlier
Medical/Clinical Assistant Associate's Degree 2 82% costlier

Calculators

Use the calculators below to formulate a college savings plan for Professional Skills Institute or model a student loan.

College Savings Calculator

Plan and Save for College

Discover how much will you need to start saving now to afford Professional Skills Institute in the future.

Student Loan Calculator

Estimate Loan Payments

Modify the loan assumptions to fit your financial situation and likely tuition price. Then calculate your payoff and loan payments for a Professional Skills Institute student loan.

Prepayment Option

About Professional Skills Institute

Professional Skills Institute is a two year private college located in Toledo, Ohio.  Full time enrollment is 290 and part time is 0.

Only undergraduate degrees are offered at this school.

Address
Professional Skills Institute
5115 Glendale Ave
Toledo, Ohio
43614

For Profit / Not For Profit Status

Professional Skills Institute is a private, for profit school.

Professional Skills Institute cost and financial aid data source: U.S. Department of Education https://nces.ed.gov/collegenavigator/?id=205054 IPEDS survey data.