Estimate future college costs and how much you need to save. Uses 2025-2026 average U.S. college cost data.
| 4-year Private University | $65,470 |
| 4-year Public (In-State) | $30,990 |
| 4-year Public (Out-of-State) | $50,920 |
| 2-year Public (Community College) | $21,320 |
Source: The College Board. Includes tuition, fees, housing, and food.
Tuition and Fees: The cost of academic instruction and access to campus facilities. Varies by college, program, credit hours, and residency status.
Room and Board: Housing and meal plans for on-campus students. Can be reduced by living off-campus with parents.
Textbooks and Supplies: Course materials, books, and required supplies. Can be reduced by buying used or renting.
Other Expenses: Transportation, personal items, electronics, entertainment, and miscellaneous costs.
A 529 plan is a tax-advantaged savings account designed specifically for education expenses. Key benefits:
Tip: Start saving early! Compound interest works best over long periods.
College tuition has historically risen about 5-6% per year, well above general inflation. Over a decade, this can nearly double the cost. Using a realistic increase rate (5% is common) is essential for accurate long-term planning.
This calculator uses average national data and standard growth rate assumptions. Actual costs vary significantly by school, program, and location. Use the "custom cost" field to enter a specific school's current annual cost for a more accurate estimate.
Historically, college costs have increased 5-6% per year, roughly double general inflation. The calculator defaults to 5%. You can adjust this based on recent trends or your own expectations.
A common guideline is to save at least 1/3 of expected costs, cover another 1/3 from current income during college years, and the final 1/3 from loans or financial aid. Adjust based on your family's situation.
529 plans allow earnings to grow tax-free and withdrawals are tax-free when used for qualified education expenses. Additionally, many states offer tax deductions or credits for contributions. That's why the calculator defaults to a 0% tax rate for savings in this tool if you're using a 529.
A 529 savings plan is an investment account that grows over time. A 529 prepaid plan lets you lock in today's tuition rates by purchasing tuition credits. Prepaid plans typically cover only tuition and have more restrictions on which schools can be used.
Tuition, fees, textbooks, required supplies, room and board (if enrolled at least half-time), computers and internet access, and special needs equipment. Transportation, health insurance, and student loan repayments are NOT qualified expenses.
This calculator provides an educational estimate only. Actual college costs and investment returns will vary. Consult a financial advisor for personalized college savings advice. Average cost data sourced from publicly available national statistics.