University of Memphis 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 Memphis? Our University of Memphis savings calculator helps you determine exactly how much you need to save monthly to cover college costs. With current tuition rates of $10,344 for in-state students and $14,784 for out-of-state students, plus a 93.4% admission rate, strategic financial planning is essential for your University of Memphis college fund.
About University of Memphis
University of Memphis is a highly selective institution with 13,645 students. The college maintains high academic standards with average SAT scores of 1055 and ACT scores of 20.5. Understanding these costs upfront allows families to create an effective savings strategy for their University of Memphis education fund.
Current University of Memphis Costs
- In-State Tuition: $10,344 per year
- Out-of-State Tuition: $14,784 per year
- Total Students: 13,645
- Admission Rate: 93.4%
Use our calculator above to determine your personalized savings plan for University of Memphis.
Smart Savings Strategies for University of Memphis
Given the affordable tuition costs at University of Memphis, 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 Memphis planning
3. Automatic Savings
Set up monthly transfers to consistently build your University of Memphis fund
4. Investment Growth
With University of Memphis's tuition costs, consider growth-oriented investments for long-term savings
University of Memphis Graduate Outcomes
- Median Earnings (10 years): $48,458
- Loan Repayment Rate: 8814.0
- Value Rating: Good
These outcomes show positive return on investment, making your University of Memphis savings strategy more compelling from a financial perspective.
Frequently Asked Questions
University of Memphis costs $10,344 per year for in-state students and $14,784 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 Memphis is as early as possible. Even small monthly contributions can grow significantly over time, especially given the $10,344 annual cost. Starting when your child is born gives you 18 years to save.
University of Memphis has a 93.4% admission rate, making it highly competitive. With 13,645 total students and average test scores of 1055 SAT and 20.5 ACT, preparation and planning are important.
University of Memphis graduates earn a median salary of $48,458 ten years after graduation, with a 8814.0 loan repayment rate. This represents positive value given the $10,344 tuition cost.
Use our University of Memphis 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 $10,344 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 $44,584 total cost by $1,512. To fully fund college, you'd need to save at least $104 monthly.
Saving $250 monthly for 18 years at 7% return will give you $107,680. This covers the estimated $44,584 total cost for 4 years at University of Memphis with $63,096 extra for additional expenses.
Saving $500 monthly for 18 years at 7% return will give you $215,361. This covers the estimated $44,584 total cost for 4 years at University of Memphis with $170,777 extra for additional expenses.
Saving $1000 monthly for 18 years at 7% return will give you $430,721. This covers the estimated $44,584 total cost for 4 years at University of Memphis with $386,137 extra for additional expenses.
Saving $2500 monthly for 18 years at 7% return will give you $1,076,803. This covers the estimated $44,584 total cost for 4 years at University of Memphis with $1,032,219 extra for additional expenses.