So your thinking about college for your middle schooler and you are wondering how much you will need to save to fund their college education. I was trying to find a website that compares the tution cost for major Michigan colleges and universities. I was successful in finding a few, so I decided to put together a list of resources about paying for college. First of all before I get to the list I wanted to understand the cost of 2 of Michigan's largest university. Below are the in state annual costs for Michigan and Michigan State Universities, the costs below include tuition, room and board, fees and in some cases books. I know it looks expensive but not as expensive as I have heard. I though someone told me that the cost for University of Michigan tuition was like $40,000 per year. It is actually more like $22,000 per year so that good, I am getting it for half price compared to what I thought it would be.
University of Michigan $21,924
Michigan State University $14,937
Top 10 Resources on Pay for College Tuition: So here's the list everything from Websites that allow you to search for financial aid to tuition costs and so on. If you have a good resource and would like me to post it just leave a comment and I will check it out and add it.
- College tuition cost: Infoplease has a great site that allows you to compare college tuition costs by State. I thought it was a pretty good site and look faily up to date. It includes both public and private universities and colleges.
- College tuition saving calculator: USA Today always has a good set of financial calculators that are easy to undersand and use. Calculating the college tuition cost requires a little guess work on your part since you will have to understand and assume and inflation rate and a rate of return for your investments. However, it this calculator does give you a good idea of what you will need to save.
- Compare 529 Plans: The next site that I found allows you to compare 529 plans.
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