College Savings Calculator
Calculate how much you need to save for college education. Plan for future education costs based on tuition inflation, investment returns, and time horizon.
Step 1: College Costs
Understanding College Costs
College costs include tuition, fees, room, board, books, and supplies. Costs have historically increased faster than inflation, typically 5-8% annually.
Step 2: Savings Plan
Savings Strategies
Consider 529 plans, Coverdell ESAs, or custodial accounts for tax-advantaged college savings. Start early to benefit from compound growth.
College Savings Results
Future College Cost (4 Years)
College Type Cost Comparison
| College Type | Current Annual Cost | Future 4-Year Cost | Monthly Savings Needed |
|---|
Savings Growth Over Time
College Savings Formula
Future Cost = Current Cost × (1 + Inflation)Years
To calculate future college costs: Take current annual cost, adjust for expected inflation over years until college, then multiply by 4 years. Use compound growth formula for savings projections.
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