College Cost Calculator
Estimate total college costs and plan your education funding strategy
The College Cost Calculator helps you estimate the total cost of higher education, including tuition, fees, room and board, and other expenses. Plan your savings strategy and understand funding options to make informed decisions about college financing.
Basic Information
Current Annual Costs
Funding Sources
Quick Scenarios
Cost Analysis
Enter college information to calculate total costs
How College Cost Planning Works
Cost Components
Funding Sources
Average College Costs by Type (2023-24)
| College Type | Tuition & Fees | Room & Board | Total Cost |
|---|---|---|---|
| Public 2-Year (Community College) | $3,800 | $9,400 | $13,200 |
| Public 4-Year (In-State) | $10,950 | $12,310 | $23,260 |
| Public 4-Year (Out-of-State) | $28,240 | $12,310 | $40,550 |
| Private 4-Year | $41,540 | $14,650 | $56,190 |
Example: 4-Year State University
Student starting college in 2 years, attending 4-year in-state public university
Annual Costs (Current)
4-Year Total (with 4% inflation)
Frequently Asked Questions
When should I start saving for college?
The earlier you start, the better. Even small amounts saved when a child is young can grow significantly due to compound interest. Starting when a child is born gives you 18 years to save and benefit from investment growth.
What's the best way to save for college?
529 education savings plans offer tax advantages and are specifically designed for education expenses. Other options include Coverdell ESAs, UGMA/UTMA accounts, and regular investment accounts. Consider your state's 529 plan for potential tax deductions.
How much financial aid can I expect?
Financial aid depends on your Expected Family Contribution (EFC) calculated from the FAFSA. Aid includes grants, scholarships, work-study, and loans. The average aid package covers about 60% of costs at public schools and 70% at private schools, but varies widely by income and school.
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