University of Maine at Farmington 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 University of Maine at Farmington? Our University of Maine at Farmington savings calculator helps you determine exactly how much you need to save monthly to cover college costs. With current tuition rates of $10,989 for in-state students and $23,079 for out-of-state students, plus a 97.6% admission rate, strategic financial planning is essential for your University of Maine at Farmington college fund.
About University of Maine at Farmington
University of Maine at Farmington is a highly selective institution with 1,131 students. The college maintains high academic standards with average SAT scores of 1062 and ACT scores of N/A. Understanding these costs upfront allows families to create an effective savings strategy for their University of Maine at Farmington education fund.
Current University of Maine at Farmington Costs
- In-State Tuition: $10,989 per year
- Out-of-State Tuition: $23,079 per year
- Total Students: 1,131
- Admission Rate: 97.6%
Use our calculator above to determine your personalized savings plan for University of Maine at Farmington.
Smart Savings Strategies for University of Maine at Farmington
Given the affordable tuition costs at University of Maine at Farmington, 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 University of Maine at Farmington planning
3. Automatic Savings
Set up monthly transfers to consistently build your University of Maine at Farmington fund
4. Investment Growth
With University of Maine at Farmington's tuition costs, consider growth-oriented investments for long-term savings
University of Maine at Farmington Graduate Outcomes
- Median Earnings (10 years): $44,433
- Loan Repayment Rate: 1163.0
- Value Rating: Good
These outcomes show positive return on investment, making your University of Maine at Farmington savings strategy more compelling from a financial perspective.
Frequently Asked Questions
University of Maine at Farmington costs $10,989 per year for in-state students and $23,079 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 University of Maine at Farmington is as early as possible. Even small monthly contributions can grow significantly over time, especially given the $10,989 annual cost. Starting when your child is born gives you 18 years to save.
University of Maine at Farmington has a 97.6% admission rate, making it highly competitive. With 1,131 total students and average test scores of 1062 SAT and N/A ACT, preparation and planning are important.
University of Maine at Farmington graduates earn a median salary of $44,433 ten years after graduation, with a 1163.0 loan repayment rate. This represents positive value given the $10,989 tuition cost.
Use our University of Maine at Farmington 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 $10,989 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 $47,364 total cost by $4,292. To fully fund college, you'd need to save at least $110 monthly.
Saving $250 monthly for 18 years at 7% return will give you $107,680. This covers the estimated $47,364 total cost for 4 years at University of Maine at Farmington with $60,316 extra for additional expenses.
Saving $500 monthly for 18 years at 7% return will give you $215,361. This covers the estimated $47,364 total cost for 4 years at University of Maine at Farmington with $167,997 extra for additional expenses.
Saving $1000 monthly for 18 years at 7% return will give you $430,721. This covers the estimated $47,364 total cost for 4 years at University of Maine at Farmington with $383,357 extra for additional expenses.
Saving $2500 monthly for 18 years at 7% return will give you $1,076,803. This covers the estimated $47,364 total cost for 4 years at University of Maine at Farmington with $1,029,439 extra for additional expenses.