How we worked it out
Updated as you change the numbers.
- Each year of college costs $30,000.00 grown by 4% a year until that year.
- The monthly saving is the payment that, with current savings growing alongside, reaches the target when college starts.
Method and assumptions
Each year of college is today’s cost increased by the cost growth rate until that year, and the years are added up. The monthly saving is the level deposit that, with growth, reaches your share of that total by the first day of college. In practice later years can be funded during college too, so this is a conservative target.
Questions
How much will four years of college cost in 10 years?
At $30,000 a year today and 4% yearly increases, about $189,000 in total.
Sources
Method and figures checked on . Every worked answer on this page is covered by an automated test. Found a mistake? Tell us.