College Savings Planner

Use the College Savings Planner to model your college funding goals and how you plan to help meet them. Then, click on "View Report," and print your personal College Savings Planner report.

Results for Child 1

Cost of college
Estimated total cost
Amount you plan to cover
Amount needed to meet your savings goal
Based on current savings,
you'll cover ...
To reach the full amount you
plan to cover ...

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Here are the average costs of one year of college in today`s dollars for several types of school. In addition to tuition, all costs include room & board on campus, except for public two-year schools for which an estimate of off-campus living expenses is included. Please click the "Select Cost or Specific College" link below this input section to view and select other averages or colleges.

Public 2-year school $15,430
Public 4-year school, in-state $25,280
Public 4-year school, out-of-state $43,170
Private 4-year school, average $57,440
Private 4-year school, expensive $69,071
Average Cost Data © 2024 The College Board, "Trends in College Pricing 2023". Costs are rounded to $100.

The College Savings Planner uses the specified hypothetical fixed average annual rate of return to estimate hypothetical earnings on education savings.

The College Savings Planner takes into account a designated percentage of college cost to be funded by savings. Most families do not save the entire amount, but use student employment, education loans and financial aid to meet a portion of college costs.

The College Savings Planner uses the education cost inflation rate to estimate future college costs. The college cost inflation rate has tended to be higher than general inflation. On average, college costs have historically increased by between approximately 5% and 7% per year.

Some college savings accounts, like 529 savings plans, give you tax-deferred growth and tax-free withdrawals. This means that you won't pay any income taxes on the amount your account earns while it's growing, and if you use the money for qualified education expenses, those earnings will be tax-free when you withdraw them.