Salem State University Savings Calculator - Plan Your College Fund
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Balance and Expenses by Years
Total Costs by Child
Planning to save for Salem State University? Our Salem State University savings calculator helps you determine exactly how much you need to save monthly to cover college costs. With current tuition rates of $11,978 for in-state students and $18,961 for out-of-state students, plus a 95.6% admission rate, strategic financial planning is essential for your Salem State University college fund.
About Salem State University
Salem State University is a highly selective institution with 4,286 students. The college maintains high academic standards with average SAT scores of 1075 and ACT scores of N/A. Understanding these costs upfront allows families to create an effective savings strategy for their Salem State University education fund.
Current Salem State University Costs
- In-State Tuition: $11,978 per year
- Out-of-State Tuition: $18,961 per year
- Total Students: 4,286
- Admission Rate: 95.6%
Use our calculator above to determine your personalized savings plan for Salem State University.
Smart Savings Strategies for Salem State University
Given the affordable tuition costs at Salem State University, 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 Salem State University planning
3. Automatic Savings
Set up monthly transfers to consistently build your Salem State University fund
4. Investment Growth
With Salem State University's tuition costs, consider growth-oriented investments for long-term savings
Salem State University Graduate Outcomes
- Median Earnings (10 years): $56,662
- Loan Repayment Rate: 3260.0
- Value Rating: Excellent
These outcomes show positive return on investment, making your Salem State University savings strategy more compelling from a financial perspective.
Frequently Asked Questions
Salem State University costs $11,978 per year for in-state students and $18,961 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 Salem State University is as early as possible. Even small monthly contributions can grow significantly over time, especially given the $11,978 annual cost. Starting when your child is born gives you 18 years to save.
Salem State University has a 95.6% admission rate, making it highly competitive. With 4,286 total students and average test scores of 1075 SAT and N/A ACT, preparation and planning are important.
Salem State University graduates earn a median salary of $56,662 ten years after graduation, with a 3260.0 loan repayment rate. This represents positive value given the $11,978 tuition cost.
Use our Salem State University 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 $11,978 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 $51,627 total cost by $8,555. To fully fund college, you'd need to save at least $120 monthly.
Saving $250 monthly for 18 years at 7% return will give you $107,680. This covers the estimated $51,627 total cost for 4 years at Salem State University with $56,054 extra for additional expenses.
Saving $500 monthly for 18 years at 7% return will give you $215,361. This covers the estimated $51,627 total cost for 4 years at Salem State University with $163,734 extra for additional expenses.
Saving $1000 monthly for 18 years at 7% return will give you $430,721. This covers the estimated $51,627 total cost for 4 years at Salem State University with $379,094 extra for additional expenses.
Saving $2500 monthly for 18 years at 7% return will give you $1,076,803. This covers the estimated $51,627 total cost for 4 years at Salem State University with $1,025,176 extra for additional expenses.