Financial Calculators Life Insurance Calculator

College Savings Calculator

Start planning for your child’s education with our college savings calculator. See how regular contributions can grow over time and estimate how much you’ll need to save based on college cost projections and your timeline.

Your Child's Information

Child's Current Age

5 years

College Start Age

Type of College

Public (In-State)

Average: $10,500/year

Public (Out-of-State)

Average: $27,000/year

Private College

Average: $39,000/year

Custom Amount

Enter your own

College Duration

4 years

Annual College Cost Inflation

5.5 %

What Percentage Do You Want to Cover?

100 %

Current College Savings

Expected Annual Return on Investments

6 %

To reach your goal, you need to save: $500 monthly

Monthly Contribution

Expected Annual Return on Investments

6 %

With this contribution, you'll cover approximately: 65% of college costs

Total projected college cost

Your Savings Target:

Projected Savings:

This calculator provides estimates based on the information you provide and assumes steady contribution amounts and investment returns. The calculations account for college cost inflation and investment growth over time. It's intended for illustrative purposes only.

College cost estimates are based on national averages for the 2023-2024 academic year. Actual costs will vary by institution and may include tuition, fees, room, board, books, and other expenses. Public in-state costs average around $10,500 per year, public out-of-state around $27,000, and private colleges around $39,000.

This calculator is for informational purposes only and is not intended to provide financial, investment, tax, or legal advice. Consider consulting with a financial advisor for personalized guidance on saving for college education.