Illinois College Savings Calculator - Plan Your College Fund
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Balance and Expenses by Years
Total Costs by Child
Planning to save for Illinois College? Our Illinois College savings calculator helps you determine exactly how much you need to save monthly to cover college costs. With current tuition rates of $37,470 for in-state students and $37,470 for out-of-state students, plus a 74.7% admission rate, strategic financial planning is essential for your Illinois College college fund.
About Illinois College
Illinois College is a highly selective institution with 925 students. The college maintains high academic standards with average SAT scores of 1080 and ACT scores of 22.0. Understanding these costs upfront allows families to create an effective savings strategy for their Illinois College education fund.
Current Illinois College Costs
- In-State Tuition: $37,470 per year
- Out-of-State Tuition: $37,470 per year
- Total Students: 925
- Admission Rate: 74.7%
Use our calculator above to determine your personalized savings plan for Illinois College.
Smart Savings Strategies for Illinois College
Given the premium cost tuition costs at Illinois 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 Illinois College planning
3. Automatic Savings
Set up monthly transfers to consistently build your Illinois College fund
4. Investment Growth
With Illinois College's tuition costs, consider growth-oriented investments for long-term savings
Illinois College Graduate Outcomes
- Median Earnings (10 years): $52,575
- Loan Repayment Rate: 442.0
- Value Rating: Excellent
These outcomes show positive return on investment, making your Illinois College savings strategy more compelling from a financial perspective.
Frequently Asked Questions
Illinois College costs $37,470 per year for in-state students and $37,470 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 Illinois College is as early as possible. Even small monthly contributions can grow significantly over time, especially given the $37,470 annual cost. Starting when your child is born gives you 18 years to save.
Illinois College has a 74.7% admission rate, making it highly competitive. With 925 total students and average test scores of 1080 SAT and 22.0 ACT, preparation and planning are important.
Illinois College graduates earn a median salary of $52,575 ten years after graduation, with a 442.0 loan repayment rate. This represents positive value given the $37,470 tuition cost.
Use our Illinois 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 $37,470 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 $161,500 total cost by $118,428. To fully fund college, you'd need to save at least $375 monthly.
Saving $250 monthly for 18 years at 7% return will give you $107,680. This falls short of the estimated $161,500 total cost by $53,820. To fully fund college, you'd need to save at least $375 monthly.
Saving $500 monthly for 18 years at 7% return will give you $215,361. This covers the estimated $161,500 total cost for 4 years at Illinois College with $53,860 extra for additional expenses.
Saving $1000 monthly for 18 years at 7% return will give you $430,721. This covers the estimated $161,500 total cost for 4 years at Illinois College with $269,221 extra for additional expenses.
Saving $2500 monthly for 18 years at 7% return will give you $1,076,803. This covers the estimated $161,500 total cost for 4 years at Illinois College with $915,302 extra for additional expenses.