This tool calculates different combinations to save a lump sum amount to pay college expenses for a child or someone else. The calculator calculates the future cost of tuition based on the college cost inflation rate that you designate.
The calculator assumes you save with a taxable account. If you want to simulate saving with a tax-advantaged account, enter a zero in the fields for federal and state income tax rates.*
Tax-advantaged accounts to save for college tuition and other expenses include Section 529 plans and Coverdell education savings accounts (formerly called education IRAs).