Millsaps College Savings Calculator - Plan Your College Fund
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Balance and Expenses by Years
Total Costs by Child
Planning to save for Millsaps College? Our Millsaps College savings calculator helps you determine exactly how much you need to save monthly to cover college costs. With current tuition rates of $43,815 for in-state students and $43,815 for out-of-state students, plus a 49.0% admission rate, strategic financial planning is essential for your Millsaps College college fund.
About Millsaps College
Millsaps College is a highly selective institution with 580 students. The college maintains high academic standards with average SAT scores of N/A and ACT scores of N/A. Understanding these costs upfront allows families to create an effective savings strategy for their Millsaps College education fund.
Current Millsaps College Costs
- In-State Tuition: $43,815 per year
- Out-of-State Tuition: $43,815 per year
- Total Students: 580
- Admission Rate: 49.0%
Use our calculator above to determine your personalized savings plan for Millsaps College.
Smart Savings Strategies for Millsaps College
Given the premium cost tuition costs at Millsaps 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 Millsaps College planning
3. Automatic Savings
Set up monthly transfers to consistently build your Millsaps College fund
4. Investment Growth
With Millsaps College's tuition costs, consider growth-oriented investments for long-term savings
Millsaps College Graduate Outcomes
- Median Earnings (10 years): $53,848
- Loan Repayment Rate: 327.0
- Value Rating: Excellent
These outcomes show positive return on investment, making your Millsaps College savings strategy more compelling from a financial perspective.
Frequently Asked Questions
Millsaps College costs $43,815 per year for in-state students and $43,815 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 Millsaps College is as early as possible. Even small monthly contributions can grow significantly over time, especially given the $43,815 annual cost. Starting when your child is born gives you 18 years to save.
Millsaps College has a 49.0% admission rate, making it highly competitive. With 580 total students and average test scores of N/A SAT and N/A ACT, preparation and planning are important.
Millsaps College graduates earn a median salary of $53,848 ten years after graduation, with a 327.0 loan repayment rate. This represents positive value given the $43,815 tuition cost.
Use our Millsaps 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 $43,815 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 $188,848 total cost by $145,776. To fully fund college, you'd need to save at least $438 monthly.
Saving $250 monthly for 18 years at 7% return will give you $107,680. This falls short of the estimated $188,848 total cost by $81,168. To fully fund college, you'd need to save at least $438 monthly.
Saving $500 monthly for 18 years at 7% return will give you $215,361. This covers the estimated $188,848 total cost for 4 years at Millsaps College with $26,512 extra for additional expenses.
Saving $1000 monthly for 18 years at 7% return will give you $430,721. This covers the estimated $188,848 total cost for 4 years at Millsaps College with $241,873 extra for additional expenses.
Saving $2500 monthly for 18 years at 7% return will give you $1,076,803. This covers the estimated $188,848 total cost for 4 years at Millsaps College with $887,954 extra for additional expenses.