College Cost Calculator
Estimate the future cost of college and the monthly savings needed to cover your share of it.
Change the values and press Calculate to work out your own figures.
Enter today's cost, its growth, when college starts and your savings.
| Year | Cost |
|---|---|
| 1 | $35,874.80 |
| 2 | $37,668.54 |
| 3 | $39,551.97 |
| 4 | $41,529.56 |
Show the working
- cost in year k = today × (1 + increase)^(start + k)
- needed at start = Σ share × cost ÷ (1 + after-tax return)^k
- monthly saving = shortfall × r ÷ ((1 + r)^months − 1)
How to use it
Enter today's cost, its growth, when college starts and your savings.
Enter amounts without commas or with them; rates are percentages (5 for 5%). Negative amounts are allowed where a sign means money paid out.
Key facts
cost in year k = today × (1 + increase)^(start + k) needed at start = Σ share × cost ÷ (1 + after-tax return)^k monthly saving = shortfall × r ÷ ((1 + r)^months − 1)
Averages
The College Board's yearly averages are a starting point: public four-year in-state, public out-of-state, private nonprofit and public two-year costs differ widely.
Questions
What will 4 years cost if $30,990 a year grows 5% and college starts in 3 years?
$154,624.87.
Formulas
cost in year k = today × (1 + increase)^(start + k) needed at start = Σ share × cost ÷ (1 + after-tax return)^k monthly saving = shortfall × r ÷ ((1 + r)^months − 1)
Sources
Limitations
- Results are estimates for planning, not offers or financial advice; lenders and banks may round, count days or time payments differently.
- Rates are nominal annual rates compounded as you choose; payments at a different frequency use the equivalent periodic rate.