College Cost Calculator

Have you ever wondered how much college will cost you? Use this free college cost calculator to find out. Enter in figures to match your specific situation and see how much college might cost you.

Fill out 6 figures:

1. Select from the drop-down list how many years it will take to get through college. The college calculator allows from 1 to 6 years.

2. Enter the current estimate of how much college tuition and fees costs currently. The College Board of education estimated the average amount to be $7,020 for the 2009-2010 academic year in a public school.

3. Enter how many years until college matriculation will occur.

4. Enter the estimate for tuition inflation or use the default of 6.5%. The default is based on historical increases.

5. Enter other expected costs. This may include books, rent, groceries..etc. Based on an average estimate at a public college, the College Board predicted $8,193 for the 2009-2010 academic school year.

6. Enter in an expected inflation rate. This will affect the other expected costs. Historical inflation rates have been close to 3%.

The calculator also tells you how much you would need to save every month to have all of that money saved up by the time college starts.

The calculator assumes that you are not earning any interest on all that money you save. If you are earning some interest, actual required savings amounts may be less.

Now you can start coming up with the best college savings plan!

Return to the top of College Cost Calculator

Money-Management-Works Home Page