College Cost Calculator
Project future tuition with inflation, calculate your savings gap, and find exactly how much to save each month to fund college.
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Future Total Cost
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Savings Gap
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Monthly Savings
| College Cost Inputs
College Costs
Savings Plan
Investment Returns
$245,726
Future Total Cost
$162,911
Savings Gap
$994
Monthly Savings Needed
⚠ Savings Gap Remaining
At $35,000/year today rising 5%/yr, college is projected to cost $57,011 in year one (10 years from now), totaling $245,726 across 4 years. Your goal is to fund 70% from savings ($172,008); your current savings are projected to grow to $9,097 by then, leaving a gap of $162,911 — save $994/month to close it.
🎓 Year-by-Year Projected Cost
| College Year | Projected Annual Cost |
|---|---|
| Year 1 | $57,011 |
| Year 2 | $59,862 |
| Year 3 | $62,855 |
| Year 4 | $65,998 |
| Total | $245,726 |
How to Plan for College Costs
College tuition has historically increased faster than general inflation — typically 3-5% per year. A degree costing $35,000 annually today could cost over $57,000 per year in a decade. Starting to save early and understanding the true future cost is the most powerful step a parent or student can take.
Our College Cost Calculator projects the total future cost of attendance, estimates how much your existing savings will grow, and calculates the monthly contribution needed to close the gap — accounting for investment returns and tax drag on taxable accounts.
The Core Formula
Future annual college cost is projected using compound inflation:
Future Cost (Year 1) = Today's Cost × (1 + inflation rate)^years_until_startYour savings goal is the portion of total future costs you plan to fund from savings. The monthly savings required to reach that goal is calculated as:
Monthly PMT = FV × r / [(1+r)^n − 1]Where FV is the savings target (minus projected growth of existing savings), r is the after-tax monthly return, and n is months until college starts.
Savings Strategies
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529 Plan
Tax-advantaged account where earnings grow tax-free when used for qualified education expenses. Set tax rate to 0% in the calculator.
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Start Early
Starting 15 years before college vs 5 years can reduce required monthly savings by over 60% due to compound growth.
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Invest Aggressively Early
With 10+ years until college, a stock-heavy portfolio (7-9% returns) significantly reduces the monthly savings burden.
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Partial Funding
Many families plan to fund 50-70% of costs from savings and rely on loans, grants, or work-study for the remainder. Adjust the savings % slider accordingly.
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