College savings plan

How much should I be saving for college?

With college costs increasing at twice the rate of inflation, it is important to start saving early. Interest working for you now in a regular savings program is much better than having interest work against you in the future in the form of education loans. Use our college savings calculator to determine how much you should be saving for college on a regular basis.

Current Savings and Assumptions

Annual college cost inflation (0% to 10%)

Amount saved so far ($)

Child's Name	Current Age (0 to 30)	College Start Age (0 to 30)	Years Attending (0 to 20)	Annual Cost
Child1: Name	Child1: Current Age	Child1: College Start Age	Child1: Years Attending	Child1: Annual Cost
Child2: Name	Child2: Current Age	Child2: College Start Age	Child2: Years Attending	Child2: Annual Cost
Child3: Name	Child3: Current Age	Child3: College Start Age	Child3: Years Attending	Child3: Annual Cost
Child4: Name	Child4: Current Age	Child4: College Start Age	Child4: Years Attending	Child4: Annual Cost
Child5: Name	Child5: Current Age	Child5: College Start Age	Child5: Years Attending	Child5: Annual Cost
Child6: Name	Child6: Current Age	Child6: College Start Age	Child6: Years Attending	Child6: Annual Cost

Assumptions

Before-tax return (-12% to 12%)

Marginal tax bracket (0% to 75%)

Annual increases (0% to 20%)

Reset

Income - Single	Income - Head of Household	Income - Married Filing Jointly	Income - Married Filing Separately	Federal Tax Rate
$0 - $11,600	$0 - $16,550	$0 - $23,200	$0 - $11,600	10%
$11,601 - $47,150	$16,551 - $63,100	$23,201 - $94,300	$11,601 - $47,150	12%
$47,151 - $100,525	$63,101 - $100,500	$94,301 - $201,150	$47,151 - $100,525	22%
$100,526 - $191,950	$100,501 - $191,950	$201,151 - $383,900	$100,526 - $191,950	24%
$191,951 - $243,725	$191,951 - $243,700	$383,901 - $487,450	$191,951 - $243,725	32%
$243,726 - $609,350	$243,701 - $609,350	$487,451 - $731,200	$243,726 - $365,600	35%
$609,351+	$609,351+	$731,201	$365,601	37%

Type	Residence	Tuition & Fees	With Room & Board
Public 4yr	Residence: In-state	Tuition & Fees: $11,260	With Room & Board: $24,030
Public 4yr	Residence: Out-of-State	Tuition & Fees: $29,150	With Room & Board: $41,920
Public 2yr	Residence: In-State	Tuition & Fees: $3,990	With Room & Board: $13,960
Private 4yr	Residence: N/A	Tuition & Fees: $41,540	With Room & Board: $56,190

Inflation		2.9%
U.S. Treasury Bills		3.3%
Long-Term Government Bonds		5.1%
U.S. Large-Company Stocks		10.3%
U.S. Small-Company Stocks		11.8%

Year	Inflation Rate
2014		1.6%
2015		0.1%
2016		1.3%
2017		2.1%
2018		2.4%
2019		1.8%
2020		1.2%
2021		4.7%
2022		8.0%
2023		4.1%