College: Tools

With the cost of college increasing each year (and outpacing inflation) how are you supposed to invest enough? It begins with a bit of planning. Use this worksheet to see how well your current plan is working, then begin to refine your strategy accordingly to meet your goal.

Some tips for filling out the worksheet:

• Input your data in today's (current) dollars. This calculator is designed to take into account the effects of inflation, so that you don't have to.

• For some fields, we've provided default inputs – you are welcome to edit these if you wish.

Your Current Investments

•	How much do you currently have invested toward college in tax-free accounts (529 plans and Coverdell Education Savings Accounts)?		$
	How much are you adding to your tax-free accounts each month?		$
	Anticipated rate of return for your investments
•	How much do you currently have invested toward college in taxable accounts?		$
	How much are you adding to your taxable accounts each month?		$
	Anticipated rate of return for your investments

Household Information

Federal tax rate (see table below)
State tax rate		%
Average annual rate of inflation		%
Average annual college cost rate of inflation		%

2006 Federal Income Tax Brackets and Rates

Single Return Married Filing Jointly Return Federal Tax Rate

$0 - $7,550

$0 - $15,100

10%

$7,551 - $30,650 $15,101 - $61,300 15%

$30,651 - $74,200 $61,301 - $123,700 25%

$74,201 - $154,800 $123,701 - $188,450 28%

$154,801 - $336,550 $188,451 - $336,550 33%

Over $336,550 Over $336,550 35%

College Investment Goal

Student's current age
Student's age when entering college
Estimated annual cost of attendance (see examples below in current dollars)		$
Number of years in college
Estimated annual financial aid (include all grants, scholarships, work study and loans)		$

Sample Undergraduate Budgets (average), 2004-2005

Type of College Annual Cost of Attendance

2-year public $2,849*

4-year public (in-state) $14,640

4-year public (out-of-state) $21,931

4-year private $30,294

*Includes the costs of tuition, fees, books, and supplies. Does not include costs of room, board, transportation, or other expenses.
Source: Trends In College Pricing © 2004 by College Entrance Examination Board, New York, New York.

Privacy Policy
We value the integrity of the information you provide. Read our privacy policy for details.

Any tax or legal information provided is a summary of our current understanding and interpretation of the current income tax regulations and is not exhaustive. Investors should consult their tax advisor or legal counsel for advice and information concerning their specific situation.

This Web site is accompanied by current prospectuses for Wells Fargo Advantage Funds^®, an EdVest^SM program description (PDF), and a tomorrow's scholar^® program description (PDF).

For 529 plans, an investor's or a designated beneficiary's home state may offer state tax or other benefits that are only available for investments in that state's qualified tuition program. Please consider this before investing.

Not FDIC Insured • No Bank Guarantee • May Lose Value

©2010 Wells Fargo Funds Management, LLC. All rights reserved. EdVest and tomorrow's scholar are state-sponsored 529 college savings plans administered by the Wisconsin Office of the State Treasurer. Wells Fargo Funds Management, LLC, a wholly owned subsidiary of Wells Fargo & Company, provides investment advisory and administrative services for Wells Fargo Managed Account Services, Wells Fargo Advantage Funds, and the EdVest and tomorrow's scholar plans. Other affiliates of Wells Fargo & Company provide subadvisory and other services for the Funds. The Funds and shares in the 529 plans are distributed by Wells Fargo Funds Distributor, LLC, Member FINRA/SIPC, an affiliate of Wells Fargo & Company.

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Next Steps

Give the gift that lasts a lifetime – start investing in your child's education today!

Open your account online.
Download an application.

Specialists are available at 1-800-359-3379 24 hours a day, 7 days a week to help you get started.


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