Here are the basic steps for calculating your future college costs, as well as the required annual savings to meet a shortage in funds:
A Step-By-Step Guide to Calculating College Costs and Required Savings
By Ken Clark, About.com Guide
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Introduction
While there are plenty of college cost and savings calculators available online, it’s wise to compute it by hand at least once. Doing so gives you a better sense of whether or not other estimates are in the right ballpark.
Prev
- Introduction
- Determine What Your College of Choice Costs Now
- Determine What Your College of Choice Will Cost in the Future
- Determine What Your Current College Fund Will Be Worth
- Determine What Your Future Shortfall Will Be
- Determine What You Need to Save Each Year to Cover the Shortfall
- Begin Investigating Your Savings Options
College Account Basics
Which Account Should You Use?What's a Section 529 Plan?Tips to Picking the Best 529 Plan
Financial Aid Basics
Guide to Federal LoansLoan Forgiveness ProgramsHow To Apply for Financial Aid
Tax Breaks for College Costs
Deducting Your TuitionObama's College Tax CreditIs Student Loan Interest Deductible?
Explore Saving for College
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