College Savings Calculator
Projected university cost and the monthly saving needed to reach it.
About this tool
Enter your child's age, the age they will start university, the number of years of study, today's yearly cost, how fast costs rise, what you have saved so far, the return you expect and the share of the cost you want to save for. The calculator shows the projected total cost, your savings target, what current savings grow to and the monthly contribution needed, with the cost of each year of study.
How to plan university savings
University costs have risen faster than general inflation in many countries, so the first step is to inflate today's yearly cost, whether tuition alone or tuition plus living costs, to each year your child will study. For a four-year-old, 25,000 a year today rising 4% a year becomes about 184,000 for four years of study starting at 18. The calculator then grows what you have already saved at your chosen return and works out the monthly saving that closes the gap by the first year of study. Starting early makes a large difference because returns compound for longer. Many families aim to save a share, such as a third, and plan to cover the rest from income, grants, scholarships or student loans. Tax-advantaged accounts, such as US 529 plans, UK Junior ISAs and Canadian RESPs, can improve the numbers. Honest limits: investment returns are not guaranteed, financial aid rules vary, and the cost of a particular university may rise faster or slower than the average you assume. Not financial advice. The savings goal calculator, the compound interest calculator and the inflation calculator are related. Compound interest, explained with real numbers shows why starting early matters.
Frequently asked questions
How much should I save for my child's university?
It depends on the cost and the share you want to cover. Work out the inflated total cost, decide on a share such as a third or all of it, and divide the gap into monthly savings.
How fast do university costs rise?
Historically faster than general inflation in many countries; 3โ5% a year is a common planning assumption.
What is a 529 plan?
A US tax-advantaged education savings account. The UK Junior ISA and Canada's RESP play similar roles.
Is my data saved?
No. The calculation runs in your browser and nothing is stored or sent.