Franklin College Savings Calculator - Plan Your College Fund
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Balance and Expenses by Years
Total Costs by Child
Planning to save for Franklin College? Our Franklin College savings calculator helps you determine exactly how much you need to save monthly to cover college costs. With current tuition rates of $37,350 for in-state students and $37,350 for out-of-state students, plus a 70.6% admission rate, strategic financial planning is essential for your Franklin College college fund.
About Franklin College
Franklin College is a highly selective institution with 872 students. The college maintains high academic standards with average SAT scores of 1110 and ACT scores of 24.0. Understanding these costs upfront allows families to create an effective savings strategy for their Franklin College education fund.
Current Franklin College Costs
- In-State Tuition: $37,350 per year
- Out-of-State Tuition: $37,350 per year
- Total Students: 872
- Admission Rate: 70.6%
Use our calculator above to determine your personalized savings plan for Franklin College.
Smart Savings Strategies for Franklin College
Given the premium cost tuition costs at Franklin College, early planning is crucial. Consider these approaches:
1. Start Early
Begin saving when your child is young to take advantage of compound interest
2. 529 Plans
Tax-advantaged education savings accounts are ideal for Franklin College planning
3. Automatic Savings
Set up monthly transfers to consistently build your Franklin College fund
4. Investment Growth
With Franklin College's tuition costs, consider growth-oriented investments for long-term savings
Franklin College Graduate Outcomes
- Median Earnings (10 years): $55,376
- Loan Repayment Rate: 553.0
- Value Rating: Excellent
These outcomes show positive return on investment, making your Franklin College savings strategy more compelling from a financial perspective.
Frequently Asked Questions
Franklin College costs $37,350 per year for in-state students and $37,350 for out-of-state students. These figures represent tuition only and don't include room, board, and other expenses.
The best time to start saving for Franklin College is as early as possible. Even small monthly contributions can grow significantly over time, especially given the $37,350 annual cost. Starting when your child is born gives you 18 years to save.
Franklin College has a 70.6% admission rate, making it highly competitive. With 872 total students and average test scores of 1110 SAT and 24.0 ACT, preparation and planning are important.
Franklin College graduates earn a median salary of $55,376 ten years after graduation, with a 553.0 loan repayment rate. This represents positive value given the $37,350 tuition cost.
Use our Franklin College savings calculator above to determine your monthly savings goal. The amount depends on your child's current age, expected tuition increases, and investment returns. For current $37,350 costs, earlier planning reduces monthly requirements.
Saving $100 monthly for 18 years at 7% return will give you $43,072. This falls short of the estimated $160,983 total cost by $117,911. To fully fund college, you'd need to save at least $374 monthly.
Saving $250 monthly for 18 years at 7% return will give you $107,680. This falls short of the estimated $160,983 total cost by $53,303. To fully fund college, you'd need to save at least $374 monthly.
Saving $500 monthly for 18 years at 7% return will give you $215,361. This covers the estimated $160,983 total cost for 4 years at Franklin College with $54,377 extra for additional expenses.
Saving $1000 monthly for 18 years at 7% return will give you $430,721. This covers the estimated $160,983 total cost for 4 years at Franklin College with $269,738 extra for additional expenses.
Saving $2500 monthly for 18 years at 7% return will give you $1,076,803. This covers the estimated $160,983 total cost for 4 years at Franklin College with $915,819 extra for additional expenses.