Education savings projection
College Savings Calculator
Use this College Savings Calculator to find a monthly savings target or project how current savings and regular contributions may grow before college.
Calculator
Build a college savings plan
Calculate a monthly target or project what your planned contributions may become.
Calculation
Annual savings projection
| Year | Total contributed | Estimated growth | Projected balance |
|---|---|---|---|
| Year 1 | $14,910 | $626 | $15,535 |
| Year 2 | $19,819 | $1,535 | $21,354 |
| Year 3 | $24,729 | $2,741 | $27,470 |
| Year 4 | $29,638 | $4,261 | $33,899 |
| Year 5 | $34,548 | $6,109 | $40,657 |
| Year 6 | $39,457 | $8,303 | $47,760 |
| Year 7 | $44,367 | $10,861 | $55,227 |
| Year 8 | $49,276 | $13,800 | $63,076 |
| Year 9 | $54,186 | $17,142 | $71,327 |
| Year 10 | $59,095 | $20,905 | $80,000 |
About This College Savings Calculator
Saving regularly can reduce the amount that may need to come from future income or student loans. First, the College Savings Calculator compounds the amount already saved over the selected period. It then includes equal monthly contributions and their estimated growth.
In goal mode, the calculator finds the monthly contribution needed to reach a future-dollar target. Alternatively, projection mode starts with a monthly amount you can afford and estimates the ending balance. As a result, you can approach the same college savings decision from either direction.
How to Use the College Savings Calculator
Follow these steps for an accurate College Savings Projection result
1Choose a Savings Calculation
Calculate the monthly amount needed to reach a goal or project the future balance from a monthly contribution you choose.
2Set the Time Until College
Select your currency and enter how many years remain before the savings will be needed for education costs.
3Enter Your Goal and Current Savings
Use a future-dollar college savings goal, then add the amount already reserved for education.
4Choose a Growth Assumption
Enter an estimated annual return. In projection mode, also add the monthly contribution you plan to make.
5Review the Savings Projection
Compare contributions, estimated growth, future balance, and any projected shortfall or amount above the goal.
How the College Savings Calculator Works
Current Savings
The starting balance is compounded monthly for the full period before college.
Monthly Contributions
Equal deposits are assumed at the end of each month and compound after they are added.
Estimated Growth
Growth is the projected balance minus current savings and all future contributions.
Goal Comparison
The ending balance is compared with the entered future-dollar goal to show a shortfall or surplus.
Important College Savings Notes
- Investment returns are uncertain, so compare conservative and optimistic assumptions.
- The calculation does not include taxes, account fees, contribution limits, or withdrawal restrictions.
- Enter a future-dollar goal because this calculator does not independently inflate college costs.
- Review the plan periodically as costs, financial aid expectations, and available contributions change.
- Compare the projection with the official Investor.gov Compound Interest Calculator when reviewing savings assumptions.
Frequently Asked Questions
Common questions about calculating GPA at College Savings Calculator
Still have questions?
For official GPA rules and academic policies, contact the College Savings Calculator Registrar's Office or your academic advisor.More Student Finance Calculators
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