Savings Program Calculator

 
The following information is designed to help you evaluate the financial aspects of planning for college costs. This calculator assumes the student will start college at the age of 18 and a 6.5% average annual inflation rate for total fixed college costs. This rate is based on the national average annual increase for 2003-2004 of total fixed costs, which includes tuition, fees, room, and board for four-year institutions (Source: College Board). Please follow the instructions below.
 
INSTRUCTIONS: Complete A and B below and press Calculate Now.
A Select the school type and the number of years of attendance:
 
Years of Attendance   2 4 5   2 4 5
Public 2-year (in-state) $1,909*     $1,136*    
Public 4-year (in-state) $10,530   $8,884  
Private 4-year $26,057   $22,405  
* Cost figures reflect only tution and fees.
B Student's birth date:     (Example: Enter May 07, 1998 as 05-07-1998)
Clear    Calculate
Estimated College Cost *: 
*Note: Don't panic at the cost! Remember, you are saving to pay your share, not necessarily the full amount. Financial aid can offset the costs for many students and families. For more information, see the Paying for College section on this site.
 
 
 
 
You probably have an amount in mind that you can afford to contribute on a monthly basis to build an account. Enter that monthly contribution amount below.
> Choose a Monthly Contribution Amount: $
In addition to monthly contributions, you may choose to jump-start your account with a lump-sum contribution or perhaps, fund your account with the lump-sum contribution only.
> Choose a Lump-Sum Contribution Amount: $
 
> Choose an Estimated Annual Rate of Return
 
Clear    Calculate
 
Estimated College Cost: 
Future Value of Account **: 
 
**Note: The results, returns or other information generated in the Savings Program Calculator are hypothetical and do not indicate actual investment results or guarantee future results.