College Cost Calculator
Estimate your future college expenses and plan your savings
College Information
Savings Information
Estimated Costs
Savings Tips
- Start saving early to take advantage of compound interest
- Consider a 529 plan for tax-advantaged savings
- Research scholarships and financial aid options
Reference: Average Annual U.S. College Costs (2024-2025)
| College Type | Average Annual Cost | Notes |
|---|---|---|
| 4-year private | $62,990 | Tuition, fees, and living expenses |
| 4-year public (in-state) | $29,910 | For state residents |
| 4-year public (out-of-state) | $49,080 | For non-residents |
| 2-year public | $20,570 | Community colleges |
Source: The College Board
Understanding Financial Aid
Financial aid can significantly reduce your out-of-pocket college costs. There are four main types of financial aid:
Grants
Need-based awards that don’t require repayment. Federal Pell Grants are the most common.
Scholarships
Merit-based or need-based awards from schools or private organizations.
Loans
Borrowed money that must be repaid with interest. Federal loans typically offer better terms.
Work-Study
Part-time jobs to help earn money for college expenses.
Complete the FAFSA each year to qualify for federal and most state financial aid programs.
529 College Savings Plans
529 plans offer tax advantages for college savings. Earnings grow tax-free and withdrawals are tax-free when used for qualified education expenses.
Qualified Expenses Include:
- Tuition and fees
- Room and board
- Books and supplies
- Computers and internet access
Many states offer tax deductions or credits for 529 plan contributions.