College Savings Calculator
See whether your savings plan will keep up with rising university costs.
Projected fund when college starts
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This runs entirely in your browser. Nothing you enter is uploaded.
How to use this tool
- Enter how many years are left until your child starts college.
- Add your current savings, your monthly contribution, and an expected annual return.
- Enter today's annual college cost, how many years you want to fund, and a tuition inflation rate.
- Click Calculate to compare your projected fund against the projected total cost.
This child college fund calculator helps you save for university costs by showing the gap between what you will have and what you will likely owe.
How it works
The tool runs two projections. First it grows your savings: the starting balance compounds at the expected return while each monthly contribution earns interest for the months that remain. Second it inflates today's college cost forward to each year your child is enrolled, then sums those years to get a total projected cost.
The result tells you whether the fund covers the total tuition inflation projection, and how large any surplus or shortfall is.
A real example
Suppose college starts in 15 years. You have 5,000 dollars saved and add 300 a month, expecting a 6 percent annual return. Today's cost is 25,000 dollars a year, you want to fund 4 years, and tuition rises 5 percent a year. After 15 years your fund grows to roughly 100,000 dollars. Meanwhile a single year that costs 25,000 today balloons to about 52,000 in year 15, and four inflated years total well over 220,000 dollars. The calculator shows that gap clearly so you can raise the contribution before the bill arrives.
Common questions
Why is the projected cost so much higher than today's price?
College costs have historically risen faster than general inflation. A 5 percent yearly increase nearly doubles a price in 15 years, which is why early saving matters so much.
What return rate should I use?
Use a rate that matches how the money is invested. A 529 plan in stock-heavy funds might assume 6 to 7 percent, while a conservative or near-term plan should use a lower figure. Pick a cautious number for a realistic projection.
Does this include financial aid, scholarships, or a 529 tax break?
No. The tool projects the gross cost and your gross savings. Aid, grants, scholarships, and tax-advantaged growth in a 529 can all reduce what you actually need to save.
What if I have more than one child?
Run the calculator once per child, since each has a different timeline and number of funded years, then add the monthly contributions together for your total plan.
Is this financial advice?
No. This is an educational estimate based on the numbers you enter and steady assumptions. Real returns and college prices vary year to year. Talk to a financial professional before making a savings plan.