College Savings Calculator

Take the first step toward securing your child’s future. Answer a few quick questions about your college aspirations and your savings goals, and let our College Savings Calculator provide a personalized estimate of how much to save.

Present

Your Child’s Current Age

Years

Current Savings Balance

Planned Monthly Contribution

Expected contribution to your savings each month.

$10K

College Needs

College Age

Years

Target Annual College Cost

Below are the average annual costs for various types of schools, calculated in today’s dollars. These estimates include tuition and room & board for on-campus living, except for public two-year schools, where off-campus living expenses are factored in.

Average Costs:

Public 2-Year School: $15,960
Public 4-Year School (In-State): $26,210
Public 4-Year School (Out-of-State): $45,380
Private 4-Year School (Average): $59,890
Private 4-Year School (High-Cost): $72,021

To explore specific costs or colleges, you can watch our discussion with JP Morgan's 528 specialist

Source: The College Board, “Trends in College Pricing 2024.” Data rounded to the nearest $100.

Rate of Return

Hypothetical average
annual rate of return.

This calculator assumes a 2% annual inflation rate in the cost of college.
This calculator assumes your child will need 4-years of college tuition.
Results may vary based on your specific needs.

Estimated total education cost

$139,745

You Will Cover

$31,308

(22% of “Estimated total education cost”), based on your current savings.

You Will Need

$139,745

$437 additional per month to meet “Estimated total education cost”, above.

Will I have enough?

A needs based approach of how much you can spend. A Stonewater Financial advisor can help you:

Get a handle on what you spend each year right now.
Walk through how your expenses may change later in life.
Identify and factor in outside sources of income such as Social Security.

Meet with our team for a complimentary college savings analysis.

Book an Appointment

Disclaimer: Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment, tax, or legal advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.