This calculator will help you to create a college saving plan that anticipates the rising cost of college tuition -- as well as other educational expenses -- due to the inflation that is expected to occur between now and when your child graduates high school.
Specifically, this calculator will allow you calculate your present college savings fund's shortfall (savings gap) based on the rate of return you expect to earn on your education investments, and on the rising college costs percentage you expect to experience. The calculator will then take that shortfall and calculate the monthly amount you need to add to your savings in order to eliminate the shortfall.
Finally, the college fund calculator will also create a year-by-year summary showing your savings growth versus the rising college costs.
Note that if you have more than one child and you would like to formulate a college savings plan for all of your children at one time, please visit the Multiple College Planning Calculator.