Maine Maritime Academy Savings Calculator - Plan Your College Fund
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Balance and Expenses by Years
Total Costs by Child
Planning to save for Maine Maritime Academy? Our Maine Maritime Academy savings calculator helps you determine exactly how much you need to save monthly to cover college costs. With current tuition rates of $14,746 for in-state students and $30,226 for out-of-state students, plus a 61.4% admission rate, strategic financial planning is essential for your Maine Maritime Academy college fund.
About Maine Maritime Academy
Maine Maritime Academy is a highly selective institution with 888 students. The college maintains high academic standards with average SAT scores of 1170 and ACT scores of 26.5. Understanding these costs upfront allows families to create an effective savings strategy for their Maine Maritime Academy education fund.
Current Maine Maritime Academy Costs
- In-State Tuition: $14,746 per year
- Out-of-State Tuition: $30,226 per year
- Total Students: 888
- Admission Rate: 61.4%
Use our calculator above to determine your personalized savings plan for Maine Maritime Academy.
Smart Savings Strategies for Maine Maritime Academy
Given the affordable tuition costs at Maine Maritime Academy, 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 Maine Maritime Academy planning
3. Automatic Savings
Set up monthly transfers to consistently build your Maine Maritime Academy fund
4. Investment Growth
With Maine Maritime Academy's tuition costs, consider growth-oriented investments for long-term savings
Maine Maritime Academy Graduate Outcomes
- Median Earnings (10 years): $89,964
- Loan Repayment Rate: 436.0
- Value Rating: Excellent
These outcomes show positive return on investment, making your Maine Maritime Academy savings strategy more compelling from a financial perspective.
Frequently Asked Questions
Maine Maritime Academy costs $14,746 per year for in-state students and $30,226 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 Maine Maritime Academy is as early as possible. Even small monthly contributions can grow significantly over time, especially given the $14,746 annual cost. Starting when your child is born gives you 18 years to save.
Maine Maritime Academy has a 61.4% admission rate, making it highly competitive. With 888 total students and average test scores of 1170 SAT and 26.5 ACT, preparation and planning are important.
Maine Maritime Academy graduates earn a median salary of $89,964 ten years after graduation, with a 436.0 loan repayment rate. This represents positive value given the $14,746 tuition cost.
Use our Maine Maritime Academy 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 $14,746 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 $63,557 total cost by $20,485. To fully fund college, you'd need to save at least $148 monthly.
Saving $250 monthly for 18 years at 7% return will give you $107,680. This covers the estimated $63,557 total cost for 4 years at Maine Maritime Academy with $44,123 extra for additional expenses.
Saving $500 monthly for 18 years at 7% return will give you $215,361. This covers the estimated $63,557 total cost for 4 years at Maine Maritime Academy with $151,803 extra for additional expenses.
Saving $1000 monthly for 18 years at 7% return will give you $430,721. This covers the estimated $63,557 total cost for 4 years at Maine Maritime Academy with $367,164 extra for additional expenses.
Saving $2500 monthly for 18 years at 7% return will give you $1,076,803. This covers the estimated $63,557 total cost for 4 years at Maine Maritime Academy with $1,013,245 extra for additional expenses.