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Formula & explanation
College Cost Calculator uses the following calculation:
This is a simplified model intended for planning and education. Real-world offers from lenders, institutions, or tax authorities may include additional fees, rules, or adjustments not reflected here.
Frequently asked questions
Why does college cost inflation often outpace general inflation?
Tuition and fees at many institutions have historically risen faster than the broader Consumer Price Index, though this varies by school and year.
What savings vehicles are commonly used for college?
529 plans are a popular tax-advantaged option in the US, alongside Coverdell ESAs and general taxable savings.
Does financial aid change this picture?
Significantly, for many families — this calculator doesn't account for aid, scholarships, or loans, which reduce the amount that must be saved or paid out of pocket.