Saving for college requires advanced planning and knowledge of what the cost of a college education will be when the student begins the college experience. You'll first need to determine how long it will be before college starts, what the cost of that education is today and how much you expect the cost will increase between now and then. You'll need to estimate how many years of college you'll be paying for. Once you have that information, you'll be able to know how much to save for college. Putting together a plan will depend on what you currently have saved, how much you can save each month and the rate of return you'll receive on those savings.
Use this calculator to find out how much you should save for college.
Change the numbers in each input field by entering a new number or adjusting the sliders. After entering your data into each input field, the calculator results will automatically update the summary statement and chart.
