How Much Does Financial Examiner School Cost?
Financial examiners conduct risk scoping or consumer compliance work for the federal government and other industries. By scrutinizing the condition of banks and financial institutions, they help ensure the stability and viability of the country’s financial system. It is a demanding occupation but is one that also pays very well. Before you can enter the profession, however, you will have to make the financial investment to get the educational training and accreditation you need.
The educational requirement to become a financial examiner is a bachelor’s degree in accounting. It is also possible to enter the profession with a bachelor’s degree in any field but you will need to take accounting, auditing, business law and management courses to gain accreditation. The cost of obtaining a bachelor’s degree in accounting will depend largely on where you will be taking your degree. Public schools are generally more affordable for those who attend as in-state students because of the tuition fee discounts. The cost of tuition in private schools is the same for all students.
In general, an accounting degree can cost about $33,000 a year for out-of-state students. However, the range can vary widely from $9,000 to more than $60,000 annually. These estimates cover tuition, fees, books, supplies and room and board. A more affordable alternative would be to enroll in online accounting programs. The cost of tuition and fees may not necessarily be cheaper but the fact that you can obtain your bachelor’s degree even while living with your folks and hold a fulltime job while doing so will lessen your expenses and allow you to pay for your college costs without overly resorting to college loans.
To give you an idea of the cost of some online programs, let’s look at some that are being offered. The bachelor of science in accounting degree offered at Kaplan University has a cost per credit of $371 and a total tuition cost of $66,780 for 180 credits. At Capella University, the bachelor of science in business with an accounting specialization is also a 180-credit course which has a total tuition cost of about $62,580 if you take the maximum of three courses per quarter. Post University’s online bachelor of science in accounting course has a total cost of $68,400 for tuition and fees and $7,500 for books and supplies.
Whether you study in online or on-campus programs, you can still lower the cost of your tuition by applying for financial aid. Ask the financial aid advisor in your school if there are scholarships or grants that you can apply for since these can significantly bring down your college costs.
If you want to enhance your credentials so you can find better work opportunities or get promoted to positions of more responsibility, you can pursue accreditation from the Society of Financial Examiners (SOFE). Passing exams are an important part of the qualification process. Members only have to pay $200 to take an exam and $150 to retake it. For non-members, the fee to take the exam is more expensive at $275 and $210 to retake.
Career Spotlight: Financial Examiner
A financial examiner looks at the health of banks and seeing to it that they are following the right guidelines for giving loans to their clients. This is technically known as risk scoping and is one [...]