University of Michigan-Dearborn 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-Dearborn? Our University of Michigan-Dearborn savings calculator helps you determine exactly how much you need to save monthly to cover college costs. With current tuition rates of $14,944 for in-state students and $31,360 for out-of-state students, plus a 58.6% admission rate, strategic financial planning is essential for your University of Michigan-Dearborn college fund.
About University of Michigan-Dearborn
University of Michigan-Dearborn is a highly selective institution with 5,882 students. The college maintains high academic standards with average SAT scores of 1125 and ACT scores of 26.5. Understanding these costs upfront allows families to create an effective savings strategy for their University of Michigan-Dearborn education fund.
Current University of Michigan-Dearborn Costs
- In-State Tuition: $14,944 per year
- Out-of-State Tuition: $31,360 per year
- Total Students: 5,882
- Admission Rate: 58.6%
Use our calculator above to determine your personalized savings plan for University of Michigan-Dearborn.
Smart Savings Strategies for University of Michigan-Dearborn
Given the affordable tuition costs at University of Michigan-Dearborn, 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-Dearborn planning
3. Automatic Savings
Set up monthly transfers to consistently build your University of Michigan-Dearborn fund
4. Investment Growth
With University of Michigan-Dearborn's tuition costs, consider growth-oriented investments for long-term savings
University of Michigan-Dearborn Graduate Outcomes
- Median Earnings (10 years): $59,649
- Loan Repayment Rate: 3160.0
- Value Rating: Excellent
These outcomes show positive return on investment, making your University of Michigan-Dearborn savings strategy more compelling from a financial perspective.
Frequently Asked Questions
University of Michigan-Dearborn costs $14,944 per year for in-state students and $31,360 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-Dearborn is as early as possible. Even small monthly contributions can grow significantly over time, especially given the $14,944 annual cost. Starting when your child is born gives you 18 years to save.
University of Michigan-Dearborn has a 58.6% admission rate, making it highly competitive. With 5,882 total students and average test scores of 1125 SAT and 26.5 ACT, preparation and planning are important.
University of Michigan-Dearborn graduates earn a median salary of $59,649 ten years after graduation, with a 3160.0 loan repayment rate. This represents positive value given the $14,944 tuition cost.
Use our University of Michigan-Dearborn 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 $14,944 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 $64,411 total cost by $21,338. To fully fund college, you'd need to save at least $150 monthly.
Saving $250 monthly for 18 years at 7% return will give you $107,680. This covers the estimated $64,411 total cost for 4 years at University of Michigan-Dearborn with $43,270 extra for additional expenses.
Saving $500 monthly for 18 years at 7% return will give you $215,361. This covers the estimated $64,411 total cost for 4 years at University of Michigan-Dearborn with $150,950 extra for additional expenses.
Saving $1000 monthly for 18 years at 7% return will give you $430,721. This covers the estimated $64,411 total cost for 4 years at University of Michigan-Dearborn with $366,311 extra for additional expenses.
Saving $2500 monthly for 18 years at 7% return will give you $1,076,803. This covers the estimated $64,411 total cost for 4 years at University of Michigan-Dearborn with $1,012,392 extra for additional expenses.