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College Cost Projector

Project total college cost with inflation and calculate the savings needed.

About College Cost Projector

Each year of study costs more than the last because inflation continues during the course, so the total exceeds four times the first year. The required saving depends on the gap between cost inflation and investment return. When cost inflation exceeds investment return, saving loses ground in real terms, which is why the two rates matter more than the absolute amounts.

Formula

College Cost Projector

Future cost compounds at inflation; required saving is a future value annuity for the shortfall

cost inflation
Education costs have historically risen faster than general inflation
annuity factor
Future value of one unit saved monthly at the expected return

Worked example

With the default values below, College Cost Projector returns Monthly Saving Required of $864.26. Change any input above and every figure here is recalculated in your browser.

Inputs used

Annual cost todayminimum 0
24,000
Years until enrolmentminimum 0 years
10 years
Years of studyaccepts 1–10
4
Annual cost inflationaccepts 0–20 %
5 %
Current savingsminimum 0
15,000
Expected investment returnaccepts 0–20 %
6 %

Results

Monthly Saving Required
$864.26
Total Projected Cost
$168,497.75
Cost in the First Year of Study
$39,093.47
Projected Value of Current Savings
$26,862.72
Shortfall to Fund
$141,635.03

Step by step

  1. 1Values used
  2. 2College Cost Projector
  3. 3Monthly Saving Required= 864.26
  4. 4Total Projected Cost= 168,497.75
  5. 5Cost in the First Year of Study= 39,093.47
  6. 6Projected Value of Current Savings= 26,862.72
  7. 7Shortfall to Fund= 141,635.03

Assumptions and limits

  • The result is derived only from the 6 inputs listed above. Anything not among them is not part of the calculation.
  • In particular, this calculator does not take tax into account.
  • Figures are rounded for display to 2 decimal places, so totals built from several rounded parts can differ slightly from the unrounded arithmetic.
  • Projections depend on assumptions that may not hold, and investment returns are not guaranteed. This is not financial advice. Consider tax-advantaged education savings vehicles available in your jurisdiction and consult a qualified adviser.
  • This is an estimate for general information and not professional financial, tax or legal advice. See the full disclaimer for the limits that apply to this kind of calculator.

How these calculators are built and tested is described on the Methodology page. If a figure looks wrong, please report it.

Projections depend on assumptions that may not hold, and investment returns are not guaranteed. This is not financial advice. Consider tax-advantaged education savings vehicles available in your jurisdiction and consult a qualified adviser.

Frequently Asked Questions

How is College Cost Projector calculated?

Future cost compounds at inflation; required saving is a future value annuity for the shortfall Each year of study costs more than the last because inflation continues during the course, so the total exceeds four times the first year. The required saving depends on the gap between cost inflation and investment return.

Why does College Cost Projector matter?

When cost inflation exceeds investment return, saving loses ground in real terms, which is why the two rates matter more than the absolute amounts.

What values do I need to enter?

This calculator takes 6 inputs: Annual cost today, Years until enrolment, Years of study, Annual cost inflation, Current savings, Expected investment return. The pre-filled defaults are a realistic starting point — replace them with figures from your own environment for a result you can act on.

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