University of Maryland-College Park Savings Calculator - Plan Your College Fund
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Balance and Expenses by Years
Total Costs by Child
Planning to save for University of Maryland-College Park? Our University of Maryland-College Park savings calculator helps you determine exactly how much you need to save monthly to cover college costs. With current tuition rates of $11,505 for in-state students and $40,306 for out-of-state students, plus a 44.8% admission rate, strategic financial planning is essential for your University of Maryland-College Park college fund.
About University of Maryland-College Park
University of Maryland-College Park is a highly selective institution with 30,246 students. The college maintains high academic standards with average SAT scores of 1445 and ACT scores of 33.5. Understanding these costs upfront allows families to create an effective savings strategy for their University of Maryland-College Park education fund.
Current University of Maryland-College Park Costs
- In-State Tuition: $11,505 per year
- Out-of-State Tuition: $40,306 per year
- Total Students: 30,246
- Admission Rate: 44.8%
Use our calculator above to determine your personalized savings plan for University of Maryland-College Park.
Smart Savings Strategies for University of Maryland-College Park
Given the affordable tuition costs at University of Maryland-College Park, 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 Maryland-College Park planning
3. Automatic Savings
Set up monthly transfers to consistently build your University of Maryland-College Park fund
4. Investment Growth
With University of Maryland-College Park's tuition costs, consider growth-oriented investments for long-term savings
University of Maryland-College Park Graduate Outcomes
- Median Earnings (10 years): $82,860
- Loan Repayment Rate: 7126.0
- Value Rating: Excellent
These outcomes show positive return on investment, making your University of Maryland-College Park savings strategy more compelling from a financial perspective.
Frequently Asked Questions
University of Maryland-College Park costs $11,505 per year for in-state students and $40,306 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 Maryland-College Park is as early as possible. Even small monthly contributions can grow significantly over time, especially given the $11,505 annual cost. Starting when your child is born gives you 18 years to save.
University of Maryland-College Park has a 44.8% admission rate, making it highly competitive. With 30,246 total students and average test scores of 1445 SAT and 33.5 ACT, preparation and planning are important.
University of Maryland-College Park graduates earn a median salary of $82,860 ten years after graduation, with a 7126.0 loan repayment rate. This represents positive value given the $11,505 tuition cost.
Use our University of Maryland-College Park 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 $11,505 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 $49,588 total cost by $6,516. To fully fund college, you'd need to save at least $115 monthly.
Saving $250 monthly for 18 years at 7% return will give you $107,680. This covers the estimated $49,588 total cost for 4 years at University of Maryland-College Park with $58,092 extra for additional expenses.
Saving $500 monthly for 18 years at 7% return will give you $215,361. This covers the estimated $49,588 total cost for 4 years at University of Maryland-College Park with $165,773 extra for additional expenses.
Saving $1000 monthly for 18 years at 7% return will give you $430,721. This covers the estimated $49,588 total cost for 4 years at University of Maryland-College Park with $381,133 extra for additional expenses.
Saving $2500 monthly for 18 years at 7% return will give you $1,076,803. This covers the estimated $49,588 total cost for 4 years at University of Maryland-College Park with $1,027,215 extra for additional expenses.