College Fund Calculator
Calculate how much you need to save monthly to reach your child's college fund goal based on age, target, and return rate.
Monthly Savings Needed
College fund calculator determines the monthly contribution needed to reach a savings goal by the time your child turns 18.
Formula (future value of an annuity):
Monthly Payment = (Target - CurrentSavings × (1+r)^n) × r / ((1+r)^n - 1)
Where:
- r = Monthly interest rate (annual rate / 12)
- n = Number of months until college (typically age 18)
- Target = Desired college fund amount
- CurrentSavings = Amount already saved
Average college costs (2025–2026):
- Public in-state: $25,000–$30,000/year
- Public out-of-state: $45,000–$55,000/year
- Private university: $55,000–$80,000/year
- 4-year total (in-state): $100,000–$120,000
- 4-year total (private): $220,000–$320,000
College costs rise ~5% per year, so plan for future costs, not current ones.