Plan and calculate your savings for your child's higher education.
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Future value including inflation
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Expected savings growth
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To meet college costs
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Gap to be covered
| Year | Child's Age | Savings Balance | Annual Cost |
|---|
Future College Cost = Current Cost × (1 + Inflation Rate)^Years until College
Future Savings = Current Savings × (1 + Return Rate)^Years + Monthly Contribution × [((1 + Return Rate)^Years - 1) / Return Rate]
Higher education costs are rising faster than general inflation. Early planning and consistent saving can help manage these future expenses effectively.
Follow these steps:
The total College Cost is the projected future value of the college cost, including any inflation.
The Savings at College Start is the expected savings growth from the current savings.
The Monthly Savings Required is the amount you need to save each month to meet the college costs.
The Savings Shortfall/Surplus is the difference between the Monthly Savings Required and the current savings.