College Cost Calculator: Projected Cost and Savings Gap
A college cost calculator grows today’s annual attendance cost by an assumed education inflation rate and estimates the cost of a multi-year program. It then compares that amount with projected dedicated savings and grants.
Quick answer
College sticker price and net price are different. Use a school’s current cost of attendance and realistic grants, then update the projection as plans and aid offers change.
At a glance
- What it calculates
- Project future college costs and the savings gap after grants, current savings, and planned contributions.
- Who it is for
- US parents and students planning how much of a degree will be funded by savings versus loans.
- Coverage
- United States (federal rules; state and local rules vary)
- Data and assumptions
- A cost inflation rate you enter applied annually to today's cost, plus a constant return on existing savings; aid formulas and merit awards are not modelled.
- Cost
- Free, no signup, calculations run in your browser
- Last reviewed
- 2026-07-09
Calculator
How to use this calculator
- Enter today’s full annual cost of attendance.
- Enter years until enrollment and program length.
- Choose a cost-increase assumption.
- Enter current savings, monthly deposits, and return.
- Subtract realistic grants and review the gap.
Explanation
What it is
A college cost calculator grows today’s annual attendance cost by an assumed education inflation rate and estimates the cost of a multi-year program. It then compares that amount with projected dedicated savings and grants.
How it works
The calculator grows today’s annual cost to the first college year, multiplies by program years for a simplified total, projects savings with monthly contributions, and subtracts grants and savings.
When to use it
Use it when a child is still years from enrolment and you need to know whether current 529 contributions are enough.
Limitations
- FAFSA, Student Aid Index and institutional aid formulas are not calculated.
- 529 state tax deductions and qualified-expense rules are not modelled.
- Published cost of attendance changes annually by institution.
Key terms
- Cost of attendance
- A school estimate including tuition, fees, housing, food, books, transportation, and personal expenses.
- Net price
- Cost of attendance minus grants and scholarships.
- 529 plan
- A tax-advantaged education savings arrangement subject to federal and state rules.
- Education inflation
- The assumed annual growth in college costs.
Formula
The calculator grows today’s annual cost to the first college year, multiplies by program years for a simplified total, projects savings with monthly contributions, and subtracts grants and savings.
Worked example
A $30,000 annual cost growing at 4% for 10 years becomes about $44,400 for the first year. Four years, savings growth, and grants determine the remaining gap.
FAQ
How much will four years of college cost?
Start with the school’s current cost of attendance, project increases, and account for grants. Costs vary widely by institution, residency, housing, and program.
Should I use sticker price or net price?
Use cost of attendance for a conservative starting point, then model grants and scholarships separately rather than assuming today’s net price will remain unchanged.
Does this include student loans?
No. The result is a funding gap that could be met with income, additional aid, loans, or lower-cost choices.
What return should I assume for college savings?
Use a range consistent with the investment mix and the shorter time horizon as enrollment approaches.
Does the calculation increase each college year separately?
This simplified version uses the projected first-year cost for each program year. For a conservative estimate, increase the input or add a buffer for later-year inflation.
Common mistakes
- Projecting today's sticker price forward without cost inflation.
- Counting expected federal aid as a grant when much of it is loans.
- Ignoring the number of years of study when the degree is longer than four years.
- Assuming a single return on 529 savings right up to the first tuition bill.
Tips
- Use published cost of attendance, not tuition alone, as the starting figure.
- Apply a separate inflation rate for tuition and for living costs if they differ.
- Revisit the projection each year as aid packages and costs change.
- Treat merit aid as a possibility, not a planning assumption.
Sources and editorial review
Educational estimates only; not personalized financial, tax, legal, lending, investment, or insurance advice.