Massachusetts Institute of Technology Savings Calculator - Plan Your College Fund
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Balance and Expenses by Years
Total Costs by Child
Planning to save for Massachusetts Institute of Technology? Our Massachusetts Institute of Technology savings calculator helps you determine exactly how much you need to save monthly to cover college costs. With current tuition rates of $60,156 for in-state students and $60,156 for out-of-state students, plus a 4.7% admission rate, strategic financial planning is essential for your Massachusetts Institute of Technology college fund.
About Massachusetts Institute of Technology
Massachusetts Institute of Technology is a highly selective institution with 4,571 students. The college maintains high academic standards with average SAT scores of 1545 and ACT scores of 35.0. Understanding these costs upfront allows families to create an effective savings strategy for their Massachusetts Institute of Technology education fund.
Current Massachusetts Institute of Technology Costs
- In-State Tuition: $60,156 per year
- Out-of-State Tuition: $60,156 per year
- Total Students: 4,571
- Admission Rate: 4.7%
Use our calculator above to determine your personalized savings plan for Massachusetts Institute of Technology.
Smart Savings Strategies for Massachusetts Institute of Technology
Given the premium cost tuition costs at Massachusetts Institute of Technology, 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 Massachusetts Institute of Technology planning
3. Automatic Savings
Set up monthly transfers to consistently build your Massachusetts Institute of Technology fund
4. Investment Growth
With Massachusetts Institute of Technology's tuition costs, consider growth-oriented investments for long-term savings
Massachusetts Institute of Technology Graduate Outcomes
- Median Earnings (10 years): $143,372
- Loan Repayment Rate: 587.0
- Value Rating: Excellent
These outcomes show positive return on investment, making your Massachusetts Institute of Technology savings strategy more compelling from a financial perspective.
Frequently Asked Questions
Massachusetts Institute of Technology costs $60,156 per year for in-state students and $60,156 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 Massachusetts Institute of Technology is as early as possible. Even small monthly contributions can grow significantly over time, especially given the $60,156 annual cost. Starting when your child is born gives you 18 years to save.
Massachusetts Institute of Technology has a 4.7% admission rate, making it highly competitive. With 4,571 total students and average test scores of 1545 SAT and 35.0 ACT, preparation and planning are important.
Massachusetts Institute of Technology graduates earn a median salary of $143,372 ten years after graduation, with a 587.0 loan repayment rate. This represents positive value given the $60,156 tuition cost.
Use our Massachusetts Institute of Technology 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 $60,156 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 $259,280 total cost by $216,208. To fully fund college, you'd need to save at least $602 monthly.
Saving $250 monthly for 18 years at 7% return will give you $107,680. This falls short of the estimated $259,280 total cost by $151,600. To fully fund college, you'd need to save at least $602 monthly.
Saving $500 monthly for 18 years at 7% return will give you $215,361. This falls short of the estimated $259,280 total cost by $43,919. To fully fund college, you'd need to save at least $602 monthly.
Saving $1000 monthly for 18 years at 7% return will give you $430,721. This covers the estimated $259,280 total cost for 4 years at Massachusetts Institute of Technology with $171,441 extra for additional expenses.
Saving $2500 monthly for 18 years at 7% return will give you $1,076,803. This covers the estimated $259,280 total cost for 4 years at Massachusetts Institute of Technology with $817,523 extra for additional expenses.