College Cost Calculator
$0.00 total cost at enrollment
| Year | Tuition & Costs | Aid / Scholarships | Net Cost |
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How This Calculator Projects College Costs
College costs rarely stand still. This calculator takes today's annual cost (tuition, fees, room and board, books, and other expenses combined) and grows it forward at your chosen college cost inflation rate until the year your student enrolls, then continues growing it for each additional year they're in school. Historically, published college costs have risen faster than general inflation, which is why the default assumption here is 5% per year rather than a typical 2-3% consumer inflation rate — adjust it if your target school's history suggests otherwise.
What the Required Monthly Savings Figure Assumes
The required monthly savings amount is the level monthly contribution — starting now and invested at your expected annual return — needed so that your investment balance, combined with your current savings (also grown at that same return), fully covers the total remaining funding gap by the time enrollment begins. It does not account for financial aid received during the college years reducing the balance faster, or for taxes on investment gains, so treat it as a starting target rather than an exact prescription.
Close the Gap With the Right Tools
If the required monthly savings number feels out of reach, a savings calculator can help you test how different monthly amounts or timeframes change the outcome. For the portion of costs you expect to borrow rather than save for, the student loan calculator shows what those future monthly payments and total interest are likely to look like.
Frequently Asked Questions
Why does the calculator use 5% for college cost inflation instead of standard inflation?
Published tuition, fees, and room and board have historically risen faster than general consumer inflation, often in the 4-6% range annually. The 5% default reflects that trend, but you can lower it if you're budgeting for an in-state public school or raise it for a private school with a history of steeper increases.
Does the required monthly savings figure account for financial aid or scholarships?
The funding gap it's based on already subtracts your expected annual aid and scholarships from the total projected cost. However, the monthly savings target itself assumes a level contribution starting today and does not assume aid arrives early enough to reduce your invested balance faster, so it's a reasonable starting estimate rather than an exact plan.