Drawloop Blog

As high school seniors prepare to move on to college, parents struggle with the increasing expense required to send their children to college. Beyond financial aid, parents can help offset this burden by planning ahead and getting their arms around the financial commitment and required annual savings. The College Tuition Planner factors in how much you should save for your child(ren)’s college education. The calculator factors in your current balance for college savings, expected earnings rates on your savings and expected annual costs for college.

Assumptions:
Child Age 10
Starts College at Age 18

Results:
Based on the above assumptions, the total college costs for your child are $119,400. You should annually save $7,640 each year for 8 years until your child enrolls in college.

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