College Cost Calculator
Estimate the future cost of college and how much to save each month.
Planning for a rising cost
College costs have often risen faster than general inflation. The calculator grows today’s yearly cost to the year your child starts, adds up each year of study as costs continue to rise, and shows the gap between that and your savings.
Example
A yearly cost of 30,000 growing 5% a year for 10 years is about 48,867 in the first year, and four years total about 210,622. Your 10,000 saved grows to about 17,908, leaving 192,714 to save, which is about 1,186 a month.
It treats the whole bill as due when college starts, which is cautious because you pay in stages. Scholarships, grants, tax-advantaged education accounts and loans are not included and can change the picture a lot.
Frequently asked questions
How fast do college costs rise?
It varies by country and period. Try several inflation rates to see the range.
Should I save for the whole cost?
Not necessarily. Many families cover part from savings, part from income and part from aid or loans.
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