OT....college savings? Lump sum calculator?

[TnTWalter]

I'm looking for a calculator where you input kids age and it tells you how much you need to invest for their college education.

I have found many that tell you monthly amounts but I'm looking for a one time shot thing per kid.

Thanks so much.

Trish

 

[TnTWalter]

has anyone done this? please? thanks.

Trish

 

[ryanshana]

I found one that told you the total amount for a 4 year college in 16 years

and it said

by the year 2025, a four-year, public, in-state degree for Colin will cost $194,678.47.

REALLY? Please say it's not so!


http://www.paxworld.com/education/calculators/college-savings-calculator/

 

[ryanshana]

or try this?

https://www.learningquestsavings.com/learningquest/advantages/investing_for_college.jsp

 

[RN4Babies]

I'm looking for a calculator where you input kids age and it tells you how much you need to invest for their college education.

I have found many that tell you monthly amounts but I'm looking for a one time shot thing per kid.

Thanks so much.

Trish

How much you invest depends on how you decide to invest it. I've been putting money into our state's EdVest system for years. Until about 15 months ago, my son's account was at $53,000. As of March 2009, it's sitting at $30,700. The economy picked a really, really bad time to tank; he starts college in four months. He's opting to go to a two year college for his respiratory therapy degree and live at home to save money.

FYI, our state schools are running about $12,000/year for tuition, room and board (not including any transportation, books or personal expenses).

 

[twoanddone]

I decided to do the prepaid route. I chose 4 yr university and pay 120 per child a month. I think the total amount is 20000. Once I pay off my student loans, I'll probably pay theirs off in full. It isn't as risky as the investment type that I'm afraid will tank to much.

 

[TnTWalter]

Just wanted to update with an answer in case someone ever searches....

http://www.accelservices.org/calculators/lumpsave.html

And also this site gives estimated costs based on your child's current age...

https://www.learningquestsavings.com/learningquest/advantages/investing_for_college.jsp

 

[badblackpug]

I found one that told you the total amount for a 4 year college in 16 years

and it said

by the year 2025, a four-year, public, in-state degree for Colin will cost $194,678.47.

REALLY? Please say it's not so!


http://www.paxworld.com/education/calculators/college-savings-calculator/

.......and pray they don't go to medical school!

..............we sold our souls to Sallie Mae....