Personal Finance Information


Calculator: What Will It Take to Save for a College Education?



Plan today for your child's bright tomorrow. Use this calculator to anticipate education expenses and see how your savings plan will meet them. (As a guide, inflation in 2015 is expected to be about 3%.)

Then be sure to turn to the credit union for savings plans and student loans for all your family's scholars.

What Will It Take to Save for a College Education?
Annual tuition and expenses
(today's dollars)		 $
Years of college
 
Years until college
 
College savings so far
 		 $
Amount you can save monthly
 		 $
Estimated rate of return on investments
 
Estimated inflation rate
 
Federal tax rate
 
State tax rate
 
First year cost $
Total cost of education $
Your savings plan will save $
This calculator is solely for informational purposes and provides reasonably accurate results; the calculations are not intended to be relied upon as actual savings results computations.

Published March 3, 2000, Reviewed March 22, 2011

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Share accounts in federally insured credit unions are insured up to the Standard Maximum Share Insurance Amount (SMSIA), $250,000 as of October 3, 2008. The Emergency Economic Stabilization Act of 2008 increased the insurance coverage on all accounts up to $250,000 until December 31, 2009.

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