Knox College Savings Calculator - Plan Your College Fund
You will not meet your savings goal
You need to make a monthly contribution of to meet your goal.
You will exceed your savings goal
You only need to make a monthly contribution of to meet your goal.
Balance and Expenses by Years
Total Costs by Child
Planning to save for Knox College? Our Knox College savings calculator helps you determine exactly how much you need to save monthly to cover college costs. With current tuition rates of $55,587 for in-state students and $55,587 for out-of-state students, plus a 71.1% admission rate, strategic financial planning is essential for your Knox College college fund.
About Knox College
Knox College is a highly selective institution with 997 students. The college maintains high academic standards with average SAT scores of 1252 and ACT scores of 25.5. Understanding these costs upfront allows families to create an effective savings strategy for their Knox College education fund.
Current Knox College Costs
- In-State Tuition: $55,587 per year
- Out-of-State Tuition: $55,587 per year
- Total Students: 997
- Admission Rate: 71.1%
Use our calculator above to determine your personalized savings plan for Knox College.
Smart Savings Strategies for Knox College
Given the premium cost tuition costs at Knox 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 Knox College planning
3. Automatic Savings
Set up monthly transfers to consistently build your Knox College fund
4. Investment Growth
With Knox College's tuition costs, consider growth-oriented investments for long-term savings
Knox College Graduate Outcomes
- Median Earnings (10 years): $54,820
- Loan Repayment Rate: 504.0
- Value Rating: Excellent
These outcomes show positive return on investment, making your Knox College savings strategy more compelling from a financial perspective.
Frequently Asked Questions
Knox College costs $55,587 per year for in-state students and $55,587 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 Knox College is as early as possible. Even small monthly contributions can grow significantly over time, especially given the $55,587 annual cost. Starting when your child is born gives you 18 years to save.
Knox College has a 71.1% admission rate, making it highly competitive. With 997 total students and average test scores of 1252 SAT and 25.5 ACT, preparation and planning are important.
Knox College graduates earn a median salary of $54,820 ten years after graduation, with a 504.0 loan repayment rate. This represents positive value given the $55,587 tuition cost.
Use our Knox 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 $55,587 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 $239,587 total cost by $196,515. To fully fund college, you'd need to save at least $556 monthly.
Saving $250 monthly for 18 years at 7% return will give you $107,680. This falls short of the estimated $239,587 total cost by $131,907. To fully fund college, you'd need to save at least $556 monthly.
Saving $500 monthly for 18 years at 7% return will give you $215,361. This falls short of the estimated $239,587 total cost by $24,226. To fully fund college, you'd need to save at least $556 monthly.
Saving $1000 monthly for 18 years at 7% return will give you $430,721. This covers the estimated $239,587 total cost for 4 years at Knox College with $191,134 extra for additional expenses.
Saving $2500 monthly for 18 years at 7% return will give you $1,076,803. This covers the estimated $239,587 total cost for 4 years at Knox College with $837,216 extra for additional expenses.