University of Minnesota-Duluth 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 Minnesota-Duluth? Our University of Minnesota-Duluth savings calculator helps you determine exactly how much you need to save monthly to cover college costs. With current tuition rates of $14,318 for in-state students and $19,762 for out-of-state students, plus a 81.8% admission rate, strategic financial planning is essential for your University of Minnesota-Duluth college fund.
About University of Minnesota-Duluth
University of Minnesota-Duluth is a highly selective institution with 7,475 students. The college maintains high academic standards with average SAT scores of 1231 and ACT scores of 25.5. Understanding these costs upfront allows families to create an effective savings strategy for their University of Minnesota-Duluth education fund.
Current University of Minnesota-Duluth Costs
- In-State Tuition: $14,318 per year
- Out-of-State Tuition: $19,762 per year
- Total Students: 7,475
- Admission Rate: 81.8%
Use our calculator above to determine your personalized savings plan for University of Minnesota-Duluth.
Smart Savings Strategies for University of Minnesota-Duluth
Given the affordable tuition costs at University of Minnesota-Duluth, 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 Minnesota-Duluth planning
3. Automatic Savings
Set up monthly transfers to consistently build your University of Minnesota-Duluth fund
4. Investment Growth
With University of Minnesota-Duluth's tuition costs, consider growth-oriented investments for long-term savings
University of Minnesota-Duluth Graduate Outcomes
- Median Earnings (10 years): $62,616
- Loan Repayment Rate: 4476.0
- Value Rating: Excellent
These outcomes show positive return on investment, making your University of Minnesota-Duluth savings strategy more compelling from a financial perspective.
Frequently Asked Questions
University of Minnesota-Duluth costs $14,318 per year for in-state students and $19,762 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 Minnesota-Duluth is as early as possible. Even small monthly contributions can grow significantly over time, especially given the $14,318 annual cost. Starting when your child is born gives you 18 years to save.
University of Minnesota-Duluth has a 81.8% admission rate, making it highly competitive. With 7,475 total students and average test scores of 1231 SAT and 25.5 ACT, preparation and planning are important.
University of Minnesota-Duluth graduates earn a median salary of $62,616 ten years after graduation, with a 4476.0 loan repayment rate. This represents positive value given the $14,318 tuition cost.
Use our University of Minnesota-Duluth 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 $14,318 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 $61,712 total cost by $18,640. To fully fund college, you'd need to save at least $143 monthly.
Saving $250 monthly for 18 years at 7% return will give you $107,680. This covers the estimated $61,712 total cost for 4 years at University of Minnesota-Duluth with $45,968 extra for additional expenses.
Saving $500 monthly for 18 years at 7% return will give you $215,361. This covers the estimated $61,712 total cost for 4 years at University of Minnesota-Duluth with $153,648 extra for additional expenses.
Saving $1000 monthly for 18 years at 7% return will give you $430,721. This covers the estimated $61,712 total cost for 4 years at University of Minnesota-Duluth with $369,009 extra for additional expenses.
Saving $2500 monthly for 18 years at 7% return will give you $1,076,803. This covers the estimated $61,712 total cost for 4 years at University of Minnesota-Duluth with $1,015,090 extra for additional expenses.