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College Funding Calculator
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This calculator will help you to determine how much money you need to invest on a monthly basis now, in order to be able to pay for your child's college education by the time they are ready to start college. You can either enter your own current estimated annual college cost, or select a degree type and the calculator will enter the cost for you based on a recent survey conducted by the The College Board. Plus, the calculator even adjusts the future cost of attending college based on your own estimated rate of inflation.
Projected Total Four-Year Costs of Attending College: Costs are based on The College Board's Annual Survey of Colleges for the 2012-2013 school year and include tuition and fees, room and board, transportation, books, and other expenses. The costs are enrollment-weighted and inflated based upon your selected estimated annual rate of inflation. The calculator assumes no additional investments or earnings once the child starts school.
The large text box will display detailed instructions/information when clicking in or tabing into any text box.
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1. Student's name.
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Instruct/Explain
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2. Years till college.
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3. Current savings.
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4. Outside funding.
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5. Gross annual income.
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6. Est. return on investments.
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7. Est. Annual Inflation Rate.
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8. Annual cost of college.
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9. Start year.
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Instruct/Explain
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10. Future tuition cost.
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11. Current savings FV.
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12. Future savings/funding.
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13. Total savings gap.
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14. Monthly deposit required.
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15. Percent of annual Income.
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Summary:
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