COLLEGE/TRAINING INVESTIGATION Northwestern Michigan College – Culinary Arts

Cost of the Degree The cost to get the Culinary Arts degree from NMC is around $10, This is because students are required a total of 75 credits and each contact hour costs $ each. ( /programs/academic- programs/culinary-arts/catalog.html)

Course Requirements General education requirements for the Culinary Arts program at NMC is credits. These credits broken down are communication credits, 7-8, humanities is 3 credits, math competency is placement into MTH 111 or higher, or the completion of MTH 23. A student is also required to have 4 science credits and 3 credits in social sciences. A student taking Culinary Arts at NMC is also required 57 credits for Occupational Specialty Requirements. These requirements are broken down into:  Computers in business-an Intro: 3  Intro to Professional Cookery: 1  Today’s Hospitality Industry: 3  Safety and Sanitation: 2  Professional Cookery: 6  Introduction to Baking: 4

Course Requirements (Continued)  Purchasing and Receiving: 2  Culinary Internship: 2  Nutrition for Culinary Arts: 2  Menu Planning:3  World Cuisine: 6  Garde Manger: 4  Dining Room and Kitchen Management: 3  Advanced Baking: 4  Contemporary service & Cuisine: 12  ( /programs/academic- programs/culinary-arts/catalog.html)

Average Length of time to complete the Degree The average length of time to complete the Culinary Arts degree, through NMC, is two years for fulltime students and four years for part-time students.

Housing Requirements To live on NMC’s campus it costs $5,325 per year for a double-occupancy room, and $7,275 per year for a single room. Also, for meal plans there are three options; the first is $3,400 per year, the second option is $2,8000 per year, and lastly, the third option is $2,200 per year.

Other information Some other information that I found that could be useful being an incoming student is that student are welcome to bring their own cars to college, but they must have parking pass. I also found that there is counseling and tutoring available for NMC students. Lastly, there are on campus jobs available to students, as well.

Four-year Degree vs. High School Diploma The average college graduate makes $55,432 a year versus a high school graduate, whom on average makes $33,904 with a fulltime job, a year. That is a different of $21,528 per year. Four-year vs. Diploma

Start-up Cost for a Bakery To open a bakery, the start-up costs include;  Security deposit: about $4,000  Construction: about $28,250  Start-up inventory: about $3,000  Pots and pans: around $2,500  Permits: $255 These expenses come to a total of $38,005. There are also monthly expenses including rent and utilities, staffing, inventory, and insurance which totals out to around $11,645 a month.

Start-up Cost for a Bakery (Continued) In order to break even with the monthly costs, 130 three dollar cupcakes would have to be sold everyday. Start-up Costs

Student Loan vs. Small Business Loan There are four main repayment plan for federal education loans, consisting of Standard Repayment, Extended Repayment, and Graduated Repayment. If using the Standard Repayment plan, a student has to pay a fixed monthly amount for a loan term of up to 10 years. With this plan there is a minimum of a $50 monthly payment. Next, if using the Extended Repayment plan, it is similar to a Standard Repayment plan, except an Extended Repayment plan allows a loan term of 12 to 30 years, but also depends on the total amount borrowed. Using this payment plan reduces the size of each payment, but increases to total amount repaid over the lifetime of the loan.

Student Loan vs. Small Business Loan (Continued) Lastly, if a student is using the Graduated Repayment plan then the payments start off lower and gradually increase every two years. The term is 12 to 30 years, depending on the total amount borrowed. This monthly payment can’t be any lower than 50% and no higher then 150%. It also much be at least the interest that accrues, and much be at least $25.

Student Loan vs. Small Business Loan (Continued) For a Small Business Loan, the monthly payments are approximately $76 per every $5,000 borrowed. These payments are principle and interest payments. The interest rate are based on a reduced and set rate of 4.75%, plus Wall Street Journal Prime, which may fluctuate. Student Loans Small Business Loans

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