College Cost Calculator

• College costs are increasing: The cost of tuition, fees, and other expenses at colleges and universities has been steadily increasing over the years. This means that if you wait to start saving for college, you may have to come up with even more money to pay for your education. By starting to save now, you can spread out the cost over a longer period of time and make it more manageable.

• College can be expensive: Depending on where you go to school and what you study, the cost of college can vary significantly. Private colleges and universities tend to be more expensive than public institutions, and some majors, such as engineering or business, may also have higher costs. By starting to save for college early, you can help ensure that you have the funds you need to pay for your education.

• Scholarships and financial aid are limited: While scholarships and financial aid can be a great way to help pay for college, they are often limited and may not cover all of your costs. By starting to save for college early, you can help fill in the gaps and reduce the amount of loans you may need to take out.

• Saving for college can help you save for other goals: Starting to save for college early can also help you save for other financial goals, such as buying a house or starting a family. By setting aside money specifically for college, you can help ensure that you have the funds you need to achieve your other financial goals as well.

• It can teach you good financial habits: Saving for college early can also help you develop good financial habits, such as setting financial goals, budgeting, and saving consistently. These skills can be valuable throughout your life and can help you make smart financial decisions.

There are several ways to start saving for college, including setting up a college savings account, contributing to a 529 plan or LIRP, or even just setting aside a portion of your allowance or earnings. No matter how much you are able to save, starting early can help you pay for the rising costs of higher education and achieve your financial goals.