College Cost Calculator

Project a 4-year college tuition total from today's annual cost and education inflation, and calculate the required monthly 529 savings contribution.

Free to use · Instant results

Calculator Inputs

Target College Type

For your own reference only — this does not change the calculation. Enter your target school's actual current annual cost below.

Child's Current Age

Expected College Start Age

Annual College Cost Inflation Rate (%)

Current Annual College Cost ($)

Today's estimated annual cost (tuition, fees, room & board) at your target school. This calculator does not look up institution-specific costs — enter your own estimate.

Current 529/College Savings ($)

Expected Annual Investment Return (%)

Required Monthly 529 Savings: $471.25
Projected 4-Year Tuition Total: $77,228.13
Funding Gap (After Existing Savings Growth): $77,228.13
Future Value of Existing Savings: $0.00
Years Until College: 10
Status

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Projected Annual Cost by College Year

Each college year's cost inflates separately based on how far in the future it occurs, rather than repeating one flat future figure.

Each college year's cost inflates separately based on how far in the future it occurs, rather than repeating one flat future figure.
College Year	Years From Now	Projected Annual Cost
1	10	$17,917.84
2	11	$18,813.73
3	12	$19,754.42
4	13	$20,742.14

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How It's Calculated

Formula

\text{Cost}_k = \text{CurrentCost} \times (1+i)^{t + (k-1)}, \quad \text{Total} = \sum_{k=1}^{4} \text{Cost}_k

This calculator projects a 4-year college cost by inflating today's annual cost forward to each of the 4 college years separately — year 1 of college uses the number of years until enrollment as its exponent, year 2 uses one more year, and so on — rather than approximating with one flat future figure repeated 4 times. It then solves for the level MONTHLY 529 contribution (an ordinary annuity, applied at the end of each month) needed to close the gap between that projected total and the future value of your current savings, both growing at your expected annual investment return. This is a planning projection based on the assumptions you enter, not a prediction — it does not model financial aid, scholarships, tax credits, or 529-specific tax rules, and it does not use any built-in tuition dataset: you provide your own current annual cost estimate.

Worked Examples

8-year-old child, $11,000/year today, 5% inflation, 10 years until college

Year 1 of college (10 years away): $11,000 × 1.05^10 ≈ $17,918
Year 2 (11 years away): $11,000 × 1.05^11 ≈ $18,814
Year 3 (12 years away): $11,000 × 1.05^12 ≈ $19,754
Year 4 (13 years away): $11,000 × 1.05^13 ≈ $20,742
Projected 4-year total ≈ $77,228
With $0 current savings and a 6% expected return, solving for the level monthly contribution over 120 months gives the required monthly 529 savings

Frequently Asked Questions

Why doesn't changing 'Target College Type' change the numbers?

This calculator does not maintain a dataset of real institution or state-average costs (those change constantly and vary enormously by school). 'Target College Type' is there for your own reference — enter your target school's actual current annual cost in the cost field below it.

Does this account for financial aid or scholarships?

No. This is a full-cost planning projection based only on the inflation and cost figures you enter — it does not estimate financial aid, merit scholarships, or need-based grants.

Why is the funding target treated as a single lump sum needed at the start of college?

For simplicity, this calculator assumes the full projected 4-year total is saved by the start of year 1 — it does not model continued investment growth on the unspent portion of that sum while your child is actually in school. This is a deliberate simplification, not a hidden assumption.

What if my current savings already cover the projected cost?

The funding gap floors at zero rather than going negative, and the required monthly savings is reported as $0 — you're already on track based on the assumptions entered.