University of Michigan-Ann Arbor 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 Michigan-Ann Arbor? Our University of Michigan-Ann Arbor savings calculator helps you determine exactly how much you need to save monthly to cover college costs. With current tuition rates of $17,228 for in-state students and $58,072 for out-of-state students, plus a 17.9% admission rate, strategic financial planning is essential for your University of Michigan-Ann Arbor college fund.
About University of Michigan-Ann Arbor
University of Michigan-Ann Arbor is a highly selective institution with 33,488 students. The college maintains high academic standards with average SAT scores of 1440 and ACT scores of 32.5. Understanding these costs upfront allows families to create an effective savings strategy for their University of Michigan-Ann Arbor education fund.
Current University of Michigan-Ann Arbor Costs
- In-State Tuition: $17,228 per year
- Out-of-State Tuition: $58,072 per year
- Total Students: 33,488
- Admission Rate: 17.9%
Use our calculator above to determine your personalized savings plan for University of Michigan-Ann Arbor.
Smart Savings Strategies for University of Michigan-Ann Arbor
Given the moderate cost tuition costs at University of Michigan-Ann Arbor, 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 Michigan-Ann Arbor planning
3. Automatic Savings
Set up monthly transfers to consistently build your University of Michigan-Ann Arbor fund
4. Investment Growth
With University of Michigan-Ann Arbor's tuition costs, consider growth-oriented investments for long-term savings
University of Michigan-Ann Arbor Graduate Outcomes
- Median Earnings (10 years): $83,648
- Loan Repayment Rate: 6278.0
- Value Rating: Excellent
These outcomes show positive return on investment, making your University of Michigan-Ann Arbor savings strategy more compelling from a financial perspective.
Frequently Asked Questions
University of Michigan-Ann Arbor costs $17,228 per year for in-state students and $58,072 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 Michigan-Ann Arbor is as early as possible. Even small monthly contributions can grow significantly over time, especially given the $17,228 annual cost. Starting when your child is born gives you 18 years to save.
University of Michigan-Ann Arbor has a 17.9% admission rate, making it highly competitive. With 33,488 total students and average test scores of 1440 SAT and 32.5 ACT, preparation and planning are important.
University of Michigan-Ann Arbor graduates earn a median salary of $83,648 ten years after graduation, with a 6278.0 loan repayment rate. This represents positive value given the $17,228 tuition cost.
Use our University of Michigan-Ann Arbor 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 $17,228 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 $74,255 total cost by $31,183. To fully fund college, you'd need to save at least $172 monthly.
Saving $250 monthly for 18 years at 7% return will give you $107,680. This covers the estimated $74,255 total cost for 4 years at University of Michigan-Ann Arbor with $33,425 extra for additional expenses.
Saving $500 monthly for 18 years at 7% return will give you $215,361. This covers the estimated $74,255 total cost for 4 years at University of Michigan-Ann Arbor with $141,106 extra for additional expenses.
Saving $1000 monthly for 18 years at 7% return will give you $430,721. This covers the estimated $74,255 total cost for 4 years at University of Michigan-Ann Arbor with $356,466 extra for additional expenses.
Saving $2500 monthly for 18 years at 7% return will give you $1,076,803. This covers the estimated $74,255 total cost for 4 years at University of Michigan-Ann Arbor with $1,002,548 extra for additional expenses.