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How to Use the College Funding Calculator
1 — Enter Basic College Inputs
Add the current annual cost of college, how many years until enrollment, and how many years the student will attend.
2 — Set Inflation and Return Assumptions
College costs typically rise faster than general inflation. The calculator projects future costs using your inflation rate and models growth on your savings using your expected investment return.
3 — Add Current Savings
Enter the amount already saved in 529 plans or other accounts. This reduces the future funding gap.
4 — Review Future College Cost
The tool projects the total cost of college at enrollment, including all years of attendance, adjusted for inflation.
5 — Understand the Funding Gap
The gap is the difference between projected college costs and the future value of your current savings. This determines how much additional saving is needed.
6 — Required Monthly Savings
The calculator computes the monthly contribution needed to fully fund the projected cost by the time the student begins college.