College Savings Calculator

- April 10, 2025

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Plan for your child's education with our College Savings Calculator. Estimate future college costs and determine how much you need to save each month to reach your college funding goals.

Child Information

Current Age of Child:

years old

Expected College Start Age:

years old

Expected Years of College:

College Cost Information

Type of College:

Living Arrangement:

Current Annual Cost (Optional):

If left blank, we'll use average costs based on your selections.

Expected College Cost Inflation:

% annually

Savings Information

Current College Savings:

Current Monthly Contribution:

Expected Annual Return on Investments:

% annually

Target College Funding Percentage:

The remaining costs might be covered by financial aid, scholarships, student loans, or work-study.

Your College Savings Projection

Based on your inputs and current projections

Years Until College

Estimated Total Cost

Your Target Amount

Savings Projection

Based on your current savings plan

Projected Savings at College Age

Projected Shortfall/Surplus

Recommended Monthly Contribution

Projected Annual College Costs

Projected Savings Growth

College Savings Strategies

529 College Savings Plan

Tax-advantaged savings plan designed specifically for education expenses.

Tax-free growth and withdrawals for qualified education expenses
Some states offer tax deductions for contributions
High contribution limits
Can impact financial aid eligibility

Coverdell Education Savings Account

Tax-advantaged savings account for education expenses.

Tax-free growth and withdrawals for qualified expenses
Can be used for K-12 expenses as well as college
Limited to $2,000 in contributions per year
Income limitations for contributors

UGMA/UTMA Custodial Accounts

Accounts held in the child's name but managed by a custodian.

No contribution limits
Can be used for any purpose
Child gains control at age of majority
Higher impact on financial aid eligibility

Roth IRA

Retirement account that can be used for education under certain circumstances.

Contributions (but not earnings) can be withdrawn tax-free any time
Withdrawals for qualified education expenses avoid early withdrawal penalty
Annual contribution limits ($6,000 in 2023)
Income limitations

Strategies to Maximize College Savings

Note: This calculator provides estimates based on the information you provide. Actual costs and investment returns may vary. This tool is for educational purposes only and does not constitute financial advice. Consider consulting with a financial advisor for personalized advice on college savings.

Planning Ahead: A Friendly College Savings Guide for Parents

Why Planning Early Makes a Big Difference

If you're reading this with a little one napping nearby or crayons scattered across the kitchen table, you’re probably already juggling a million thoughts about their future. Among the many milestones—first steps, first words, first school day—college might feel forever away. But here's the thing: it sneaks up. That’s where the College Savings Calculator can really help make things feel a little more in reach.

This tool isn’t here to overwhelm you with numbers. It’s here to guide you through what saving for college might actually look like, using your real-life situation—like how old your child is, where they might go, and how much you’re currently putting away.

Taking the Guesswork Out of Saving

Raising kids means plenty of surprises (ever find socks in your fridge?), but your college savings plan doesn’t have to be one of them. With just a few details—your child’s current age, your savings so far, your monthly contribution—the calculator can give you a clearer picture of what college might cost and how your savings are tracking.

You can adjust all kinds of inputs, including:

The type of school (in-state public, private, or something elite)
Where your child might live (home, dorm, or apartment)
How many years they'll attend
Expected inflation and investment returns

Once you plug it all in, the calculator shows projections, shortfalls (if any), and even a suggested monthly savings number. It takes the mystery out of it.

Real Talk: What Parents Love About It

We’ve heard from lots of moms and dads who’ve used this and said things like, “I had no idea how far behind we were,” or “Seeing our savings on track gave me real peace of mind.” The emotional weight of financial planning can feel huge, but clarity helps.

Parents especially like that the calculator breaks down:

Estimated Total College Costs – Not just tuition, but housing, books, and more.
Your Savings Goal – Based on the percentage you want to cover (maybe 100%, maybe just 50%).
Projected Growth – It shows how your money might grow over time.
Shortfall or Surplus – Are you ahead? Behind? You’ll know.
Next Steps – Suggestions to bridge the gap or use your surplus wisely.

Helpful Tips From One Parent to Another

Saving for college can feel like another big to-do, but it doesn’t have to be stressful. Here are some ideas that work for a lot of families:

Set it and forget it: Automate monthly contributions. Even $50 or $100 a month adds up.
Review once a year: Life changes. So should your plan.
Use windfalls wisely: Got a tax refund or birthday gift from Grandma? Toss a little into the college fund.
Talk about it: As kids grow, involve them in understanding what college costs. It’s a good money lesson.
Start small, stay steady: Don’t worry about hitting a big number immediately. Momentum matters more than perfection.

Finding the Plan That Works for You

The calculator also introduces you to a few different savings options, like:

529 College Savings Plans
Coverdell Education Accounts
Custodial Accounts (UGMA/UTMA)
Even Roth IRAs in some cases

You’ll see the pros and cons of each, and how they might fit into your family’s situation. Some parents use a mix, especially if grandparents want to contribute too.

What This Looks Like in Real Life

Say your daughter is five now and you’re saving $200 a month. You’re thinking about a public in-state college, with her living in a dorm. The calculator can tell you what that might cost in 13 years, how your current savings stack up, and what you might want to adjust—if anything. No spreadsheets, no complicated math.

It’s all about helping you feel confident that you’re doing your best for their future—and making smart, realistic choices without the pressure.

Keep Moving, One Step at a Time

Whether you’re just starting to think about college savings or already deep into it, the College Savings Calculator is a great companion. Parenting is full of unknowns, but having a plan (even a flexible one) brings a lot of calm.

And let’s be honest—anything that helps us sleep a little easier at night is a win.

Grab a few minutes, plug in your info, and see what’s possible. You might be closer than you think.