Virginia Military Institute Savings Calculator - Plan Your College Fund
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Balance and Expenses by Years
Total Costs by Child
Planning to save for Virginia Military Institute? Our Virginia Military Institute savings calculator helps you determine exactly how much you need to save monthly to cover college costs. With current tuition rates of $20,484 for in-state students and $51,186 for out-of-state students, plus a 81.7% admission rate, strategic financial planning is essential for your Virginia Military Institute college fund.
About Virginia Military Institute
Virginia Military Institute is a highly selective institution with 1,560 students. The college maintains high academic standards with average SAT scores of 1150 and ACT scores of 25.0. Understanding these costs upfront allows families to create an effective savings strategy for their Virginia Military Institute education fund.
Current Virginia Military Institute Costs
- In-State Tuition: $20,484 per year
- Out-of-State Tuition: $51,186 per year
- Total Students: 1,560
- Admission Rate: 81.7%
Use our calculator above to determine your personalized savings plan for Virginia Military Institute.
Smart Savings Strategies for Virginia Military Institute
Given the moderate cost tuition costs at Virginia Military Institute, 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 Virginia Military Institute planning
3. Automatic Savings
Set up monthly transfers to consistently build your Virginia Military Institute fund
4. Investment Growth
With Virginia Military Institute's tuition costs, consider growth-oriented investments for long-term savings
Virginia Military Institute Graduate Outcomes
- Median Earnings (10 years): $77,369
- Loan Repayment Rate: 461.0
- Value Rating: Excellent
These outcomes show positive return on investment, making your Virginia Military Institute savings strategy more compelling from a financial perspective.
Frequently Asked Questions
Virginia Military Institute costs $20,484 per year for in-state students and $51,186 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 Virginia Military Institute is as early as possible. Even small monthly contributions can grow significantly over time, especially given the $20,484 annual cost. Starting when your child is born gives you 18 years to save.
Virginia Military Institute has a 81.7% admission rate, making it highly competitive. With 1,560 total students and average test scores of 1150 SAT and 25.0 ACT, preparation and planning are important.
Virginia Military Institute graduates earn a median salary of $77,369 ten years after graduation, with a 461.0 loan repayment rate. This represents positive value given the $20,484 tuition cost.
Use our Virginia Military Institute 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 $20,484 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 $88,289 total cost by $45,216. To fully fund college, you'd need to save at least $205 monthly.
Saving $250 monthly for 18 years at 7% return will give you $107,680. This covers the estimated $88,289 total cost for 4 years at Virginia Military Institute with $19,392 extra for additional expenses.
Saving $500 monthly for 18 years at 7% return will give you $215,361. This covers the estimated $88,289 total cost for 4 years at Virginia Military Institute with $127,072 extra for additional expenses.
Saving $1000 monthly for 18 years at 7% return will give you $430,721. This covers the estimated $88,289 total cost for 4 years at Virginia Military Institute with $342,432 extra for additional expenses.
Saving $2500 monthly for 18 years at 7% return will give you $1,076,803. This covers the estimated $88,289 total cost for 4 years at Virginia Military Institute with $988,514 extra for additional expenses.