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Once entered, we will send a reset link to the email address you specified. This college cost and savings calculator is the ideal tool for your college planning needs. It combines a college cost calculator with a college savings calculator.
Obtain a personalized projection of your future college costs by entering your child's age, the type of college you're saving for, and your household income. This calculator shows you how much to save for college in a college savings plan.
You can adjust the monthly contribution to see how much monthly contributions can compound over time and the percentage of total college costs your savings will cover. Help us better personalize your results to your specific situation. What type of college are you thinking of saving for? If you start saving for your 1 year old child's college today in a plan you will have about in savings by the time your child is ready for college.
Saving the same amount in the average savings account will only grow to which is less than using a plan. Your actual returns will differ. This calculator is designed to help families create an effective funding strategy to cover their expected college tuition costs using a college savings plan. Some families will want to save for 4 years in college, while others aim to cover a portion of the total cost.
The total cost of college is the 4-year cost of attendance from the year the child turns 18, factoring in tuition inflation. The adjusted cost of college is calculated by taking the total cost of college and subtracting the expected scholarships and grants. Withdrawals begin the year you incur school tuition i. This is assumed to be the year in which the child turns Taking into account your current savings, expected monthly contribution, and projected costs, this calculator quantifies the funding shortfall you could expect to be left with.
This shortfall will have to be covered by loans or other funding sources. This calculator is designed to help you create the most effective funding strategy to cover your expected college costs using a plan. Note that attendance costs and scholarship availability can vary considerably from school to school.
In-state public university. Some states offer a tax deduction for contributions to a plan, which could further increase projected college savings if tax benefits are invested.
Read more about state tax benefits for plans , and estimate your state tax savings with our Tax Calculator.
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