College Savings Calculator
Please note: The calculator must be used for informational purposes only. The accuracy of this tool depends on the data entered by you. For truly accurate numbers, please speak with one of our associates.
Aside from saving for retirement, developing a strategy for financing a college education may be one of the most important investment exercises you will ever undertake. To determine how much you’ll need to save/invest annually to pay for your child’s education, take a few minutes to fill out this worksheet.
This calculator is provided for illustrative purposes only and is not intended to be representative of actual results. The information has been obtained from sources believed to be reliable, but we do not guarantee its accuracy. Investment results can vary considerably depending on the type of securities involved, general market conditions and other factors.
* According to the Annual Survey of Colleges, The College Board, New York, NY., the national average for the 2003-2004 school year is $10,636 for public school resident students and $26,854 for private college resident students, which includes room, board and tuition.
a) Based on assumptions used, this will be your college savings pool when your child enters college.
(b) Amount to add to college savings fund at the start of each year.