Age of children
Age of your child as on the date.
Age to start education
Input the age when your child will be a college student.
Your estimated cost of annual tuition fees. You can click here to get an overview of current costs for U.S. undergraduate colleges.
Room and board
The per child cost you are estimating to spend on their room and board every year.
Education cost inflation
The rate by which you expect the current educational costs will increase every year.
Currently saved amount for future educational expenses.
Amount of dollar you wish to put into the account. It is assumed that you put these money at the beginning of every month.
Rate of return
Your expected rate of return from the savings. Theoretically, this is the future rate of inflows predicted at present time. So, it is usual that the actual return will fluctuate that of expected. As high return is subject to high risk, you can choose short-term investment opportunities to offset the time volatility and higher risk premium.