College Savings Calculator
If saving money for college is a concern you can easily determine
how much you should be saving by using our college savings
calculator.
- Enter ballpark values by clicking on and dragging the
diamond-shaped sliders left or right. Enter exact numbers
by clicking on the number in the box on the right and type
your number (no commas).
- Solve for different variables by clicking on a label
name. A red check mark appears on the label of the variable
for which you are solving. You cannot change red-checked
values.
- The results of your calculations show in the box at the
bottom of the calculator.
Initial Savings
You can enter the amount that you currently have saved or
you can click this button to easily figure out how much you
should already have in your college savings based on the other
variables.
Monthly Savings
Either enter the amount that you know you will be saving each
month or click the button to find out how much money you should
be putting away to meet the demands of the other variables.
Annual Return
If you know the interest rate you will be receiving on your
investment you should enter it here. If you want to figure
out what interest rate you need just click on this button
for a quick calculation.
Time until College
You can click on this button to determine how many years it
will take you to reach your savings goal or enter the number
of years you know you have to save for college.
Annual College Costs
If you know the amount you will need you can enter it here
or use this button to figure out the total amount you will
be able to save for college you can click on this button.
Results
Our interactive results box displays values based on which
variable has the red check mark on it for quick and easy calculations.
Inflation
Simply input your estimate of what the inflation rate will
be from now until the time college starts.
Years of College
You can choose the number of years your college savings will
need to pay for.
Click
Here to open the College Savings Calculator |
