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Project future college costs with inflation and calculate the monthly savings needed to fully fund your child's education.
Age in years
Typically 18
Tuition, room, board, fees
Annual increase rate
Expected duration
Amount saved so far
Regular monthly savings
Projected Total Cost
$175,518
Funding Gap
$110,118
Monthly Needed
$918
| Year | Age | Annual Cost | Cumulative Cost | Account Balance |
|---|---|---|---|---|
| 1 | 8 | - | $0 | $18,600 |
| 2 | 9 | - | $0 | $22,200 |
| 3 | 10 | - | $0 | $25,800 |
| 4 | 11 | - | $0 | $29,400 |
| 5 | 12 | - | $0 | $33,000 |
| 6 | 13 | - | $0 | $36,600 |
| 7 | 14 | - | $0 | $40,200 |
| 8 | 15 | - | $0 | $43,800 |
| 9 | 16 | - | $0 | $47,400 |
| 10 | 17 | - | $0 | $51,000 |
| 11 | 18 | $40,722 | $40,722 | $13,878 |
| 12 | 19 | $42,758 | $83,481 | $0 |
| 13 | 20 | $44,896 | $128,377 | $0 |
| 14 | 21 | $47,141 | $175,518 | $0 |
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529 Plans are tax-advantaged savings accounts designed specifically for education expenses. Contributions grow tax-free, and withdrawals for qualified education expenses are tax-free. Many states offer additional state income tax deductions on contributions, making them one of the most powerful college savings tools available.
Financial Aid includes grants (free money), scholarships, loans, and work-study. FAFSA completion is essential to access federal aid. Even high-income families may qualify for need-based or merit-based aid. Apply early and explore institutional aid from specific colleges.
Scholarships come from colleges, private organizations, and employers. Start researching early and apply to as many scholarships as possible, especially local and lesser-known ones with less competition. Merit scholarships reward academic achievement, athletic ability, and other talents.
Education inflation typically exceeds general inflation. College costs have historically increased 5-6% annually. Start saving early to take advantage of compound growth and spread contributions over many years.
Sagery provides educational estimates, not financial advice. All projections are based on the assumptions you provide — actual results will vary. Consult a qualified financial advisor before making financial decisions.