Courtesy of the awesome "Bereno".
See attached.
This is strictly my hypothetical schedule if I wanted to pay only approx. $5,000 per month which was my threshold. It would take me 3-years to pay off my in-state school at this rate and 5-years for my out-of-state school. This considers only tuition, fees, and instrument costs.
In-state
1st year: $37,084
2nd year: $36,659
3rd year: $36,475
4th year: $36,659
Payback duration = 3 years
$5,346 per month
Total paid = $192,465
Out-of-state
1st year: $67,376
2nd year: $52,323
3rd year: $53,804
4th year: $53,042
Payback duration = 5 years
$5,396 per month
Total paid = $271,766.64
This is an incredibly difficult decision to base off of intangible objects, such as reputation and personal well-being, and tangible objects, such as cost-of-attendance. Money is a great form of measurement but it is difficult to convert things like reputation and well-being into dollar value. The conversion rate from intangible values to dollar value differs with different people. How much money and time are you willing to spend on a particular school?