College Cost Calculator

Plan and calculate the total cost of college education

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College Cost Calculator

This College Cost Calculator can help determine rough estimates of what to expect from college costs, and in turn, how much to begin budgeting for it. For more specific college cost estimates, you can use the College Navigator to get more precise annual college costs data. This calculator is mainly intended for use in the U.S.

🎓 College Cost Details

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%

5% recommended

years
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$

Amount saved so far

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%

Use 0% for 529 plan savings

years

📊 Cost Calculation Results

If paying college costs in full

Total college cost $149,236
Total college cost in today's money $126,276
Equivalent monthly saving $1,712 per month for 7 years
Freshman year cost (rise 5% for 3 years) $34,625 v.s. $29,910 now

If 35% of college costs come from savings

The rest maybe paid by grants, scholarships, student loans, or other financial aids.

You will need to save $52,233
Your target saving amount in today's money $44,197
Equivalent monthly saving $599 per month for 7 years
Amount needed in freshman year: $12,119

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📚 Understanding College Costs

529 Savings Plan

A tax-advantaged investment account designed for education expenses. Earnings grow tax-free when used for qualified education costs.

Financial Aid

Don't forget to factor in grants, scholarships, and other financial aid that can significantly reduce your out-of-pocket costs.

Start Early

The earlier you start saving, the more time your money has to grow through compound interest, reducing your monthly savings requirement.

College Cost Averages (2024-2025)

4-year Private $62,990
4-year Out-of-State Public $49,080
4-year In-State Public $29,910
2-year Public $20,570

College Cost Components

Direct Costs

  • Tuition and Fees: The largest expense, varying by institution type and residency
  • Room and Board: Housing and meal plans if living on campus
  • Books and Supplies: Textbooks, lab materials, and course supplies

Indirect Costs

  • Transportation: Travel to and from campus, local transportation
  • Personal Expenses: Entertainment, clothing, and miscellaneous items
  • Technology: Computer, software, and internet access