College Cost Projector
Project 4-year college cost from current tuition, years to enrollment, and annual tuition inflation.
Returns projected total and monthly savings needed.
Total college cost goes far beyond tuition. A complete 4-year estimate must include tuition, fees, room, board, books, transportation, and personal expenses — and account for annual tuition inflation.
The base formula (without inflation): 4-Year Cost = Annual Cost × 4
With annual tuition inflation (typically 3–5%/year): Total Cost = C₁ + C₁(1+r) + C₁(1+r)² + C₁(1+r)³
Where C₁ = Year 1 cost and r = annual cost increase rate.
2024 average annual costs (College Board data):
- Public 4-year in-state: $28,840/year (tuition + fees + room/board)
- Public 4-year out-of-state: $46,730/year
- Private nonprofit 4-year: $60,420/year
Worked example (Private university, 4% annual increase): Year 1: $60,000 Year 2: $60,000 × 1.04 = $62,400 Year 3: $62,400 × 1.04 = $64,896 Year 4: $64,896 × 1.04 = $67,492 Total: $254,788
This is the sticker price. Net price after scholarships and grants is typically much lower.
Other costs often overlooked:
- Textbooks and supplies: $1,200–$1,500/year
- Transportation: $1,000–$4,000/year (flights home, car costs)
- Personal expenses: $2,000–$3,000/year
- Technology (laptop, software): $800–$1,500 one-time
Financial aid impact: Average grant aid at private universities is ~$23,000/year, reducing effective cost significantly. Always compare net price (after aid) not sticker price when comparing schools.
Student loan repayment reality: Every $10,000 borrowed at 6.5% on a 10-year plan = ~$113/month in loan payments after graduation.