![]() ![]() Other Information Available About College Savings Calculators ![]() The three sections: Project Costs, Projected Savings and The Bottom Line will deliver an estimated cost of how much adjustment is needed in the amount of money to be saved to go to school. It also gives helpful tips for paying for school, especially if there is a projected shortfall. There are also areas in the calculator to input the number of years until school starts, interest, savings-to-date, and what amount someone is saving per month, if any.Īfter inputting whatever data the user has, the college savings calculator will determine the answers to all of those questions in an easy-to-read report, along with a graph displaying the amount of savings needed over time, along with inflation-adjusted tuition data. ![]() After determining the number of years of attendance, the user can input the percentage of savings they believe they’ll have by the time the student starts school. The college savings calculator allows the user to enter in an exact cost of school per year or use average figures for public and private 2- and 4-year schools. It also allows its user to input multiple scenarios to help them see how different savings plans will work. It allows someone to determine the amount of money needed for college, and calculate the amount of money you need to save to attend school. The college savings calculator allows you to research a number of financial-related questions related to the cost of attending schools. The College Board provides a handy college savings calculator at its website, /fincalc/college_savings.jsp. Determining Costs with a College Savings Calculator With costs on the increase, using a college savings calculator will help answer key questions about picking a school that one can afford. The center said that during the past decade tuition, room and board costs rose 32 percent at public schools and 24 percent at private schools. With the average price for tuition, room and board at a public school topping $12,200, and private schools averaging $31,233 for the 2008-2009 academic year, according to the National Center for Education Statistics, students need to factor in finances when they are attending school. ![]()
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