Hand holding eyeglasses on desk mid conversation

Saving for college: How much will you need?


Who's Going to College
Calculations
Reduce Costs

Step (1) Select who is attending college below

Step (2) Enter how many years until they start college

YOUR CHILD
YOU
How many years until your child starts?
Years*
*Years entered must be equal to or greater than 1
How many years until you start?
Years*
*Years entered must be equal to or greater than 1

The results provided by this calculator are estimates based on the information supplied and are not meant to imply any specific investment or guaranteed rate of return.

We've made some assumptions that you can change below to show a more accurate cost figure.

Your total college costs
$247,265

You will need to save
$1,265
per month
Expect college costs to increase by 4% per year. Expect to earn 7% after-tax each year in your college fund(s). We assumed a moderate rate of return for this hypothetical exercise. You can assume a conservative rate of return (5%) or an aggressive rate of return (9%) to see how that might affect your savings.This illustration is hypothetical and is not meant to represent any specific investment or to imply any guaranteed rate of return.

Conservative

Moderate

Aggressive

Years student has until college
YEARS
Years student will attend college
YEARS
Cost of attending college1
ANNUALLY

The results provided by this calculator are estimates based on the information supplied and are not meant to imply any specific investment or guaranteed rate of return.

If this number is too big, see how you can reduce out-of-pocket costs below.

Your total college costs (after possible reductions):
$247,265

You will need to save approximately
$1,265
per month
You might contribute some work earnings.
PER YEAR
You might borrow money.
PER YEAR
You might receive financial aid or a scholarship.
PER YEAR
You may have some college savings already.

The results provided by this calculator are estimates based on the information supplied and are not meant to imply any specific investment or guaranteed rate of return.