Savings Plan Calculator
 
Savings Plan Designer
This calculator shows you how much money you must contribute each month to an interest-bearing bank account or investment fund in order to reach your savings goals.

Parents should try to save at least half the projected costs of their child's college education. Ideally the savings plan (in the parents' name) should be established when the child is born, but it is never too late to start saving. (To reach $35,000, you would need to contribute $25.12 per week for 17 years to an account that earns 5% interest.)

If you're trying to analyze the effectiveness of your current savings plan, you may want to use the Savings Growth Projector instead to calculate the growth potential of your current contributions.


Current Savings:
Interest Rate on Savings:
Years to Enrollment:
Contribution Frequency:
Savings Goal: Dollar Amount ( ), or
percent of projected college costs.
One-year costs are currently
and increasing at per year.