Child Education Cost Calculator
Calculate the total projected cost of college for your child accounting for education inflation. Find out how much to save monthly to fully fund their education.
Part of our Insurance Calculators collection.
Child Education Cost Calculator
Free online calculator
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Average: $35k/yr public, $55k/yr private
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College costs historically rise ~5%/year
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How to Use This Calculator
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Enter your personal details and financial information.
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See the estimated cost or coverage need instantly.
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Adjust inputs to compare different scenarios.
How This is Calculated
Projected Cost = Annual Cost × (1 + inflation)^yearsUntilCollege × 4 years Monthly Savings = PV × r / ((1+r)^n − 1) Where r = monthly return, n = months until college Consider 529 plans for tax-advantaged education savings.
Example Calculation
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Results update as you enter your information.
Frequently Asked Questions
What is a 529 plan and should I use one?
A 529 is a tax-advantaged savings account specifically for education expenses. Earnings grow tax-free and withdrawals for qualified education expenses are tax-free federally (and often state-tax-free). It's the most efficient way to save for college in most cases.
What if my child doesn't go to college?
529 funds can be used for vocational schools, community college, graduate school, and now K-12 tuition. If unused, you can change the beneficiary to another family member or roll funds into a Roth IRA (up to $35,000 lifetime with the SECURE 2.0 Act).