Wofford College Savings Calculator - Plan Your College Fund
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Balance and Expenses by Years
Total Costs by Child
Planning to save for Wofford College? Our Wofford College savings calculator helps you determine exactly how much you need to save monthly to cover college costs. With current tuition rates of $54,100 for in-state students and $54,100 for out-of-state students, plus a 58.6% admission rate, strategic financial planning is essential for your Wofford College college fund.
About Wofford College
Wofford College is a highly selective institution with 1,873 students. The college maintains high academic standards with average SAT scores of 1275 and ACT scores of 29.0. Understanding these costs upfront allows families to create an effective savings strategy for their Wofford College education fund.
Current Wofford College Costs
- In-State Tuition: $54,100 per year
- Out-of-State Tuition: $54,100 per year
- Total Students: 1,873
- Admission Rate: 58.6%
Use our calculator above to determine your personalized savings plan for Wofford College.
Smart Savings Strategies for Wofford College
Given the premium cost tuition costs at Wofford College, 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 Wofford College planning
3. Automatic Savings
Set up monthly transfers to consistently build your Wofford College fund
4. Investment Growth
With Wofford College's tuition costs, consider growth-oriented investments for long-term savings
Wofford College Graduate Outcomes
- Median Earnings (10 years): $68,964
- Loan Repayment Rate: 349.0
- Value Rating: Excellent
These outcomes show positive return on investment, making your Wofford College savings strategy more compelling from a financial perspective.
Frequently Asked Questions
Wofford College costs $54,100 per year for in-state students and $54,100 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 Wofford College is as early as possible. Even small monthly contributions can grow significantly over time, especially given the $54,100 annual cost. Starting when your child is born gives you 18 years to save.
Wofford College has a 58.6% admission rate, making it highly competitive. With 1,873 total students and average test scores of 1275 SAT and 29.0 ACT, preparation and planning are important.
Wofford College graduates earn a median salary of $68,964 ten years after graduation, with a 349.0 loan repayment rate. This represents positive value given the $54,100 tuition cost.
Use our Wofford College 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 $54,100 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 $233,178 total cost by $190,106. To fully fund college, you'd need to save at least $541 monthly.
Saving $250 monthly for 18 years at 7% return will give you $107,680. This falls short of the estimated $233,178 total cost by $125,498. To fully fund college, you'd need to save at least $541 monthly.
Saving $500 monthly for 18 years at 7% return will give you $215,361. This falls short of the estimated $233,178 total cost by $17,817. To fully fund college, you'd need to save at least $541 monthly.
Saving $1000 monthly for 18 years at 7% return will give you $430,721. This covers the estimated $233,178 total cost for 4 years at Wofford College with $197,543 extra for additional expenses.
Saving $2500 monthly for 18 years at 7% return will give you $1,076,803. This covers the estimated $233,178 total cost for 4 years at Wofford College with $843,625 extra for additional expenses.