Calculate Your College Costs

Calculate Your College Costs
Anyone who has been to college or who is still paying off a student loan can attest to the fact that a college education is an expensive endeavor. 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.

You can use the following 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. When planning for the future, people often speak in terms of "current" and "future" dollars. "Future dollars" simply takes into consideration the effects of inflation. This calculator is designed to take into account the effects of inflation, so that you don't have to. Input your data as it is correct today, and the calculator will do the rest.
For some fields, we've provided default inputs – you are welcome to edit these if you wish.

Your Current Investments

Current taxable assets allocated for college (investments other than your EdVest or Coverdell Education Savings Account assets):
$
Monthly investment toward college (does not include your EdVest or Coverdell Education Savings Account investments):
$
Increase monthly investment by rate of inflation? Yes No
Anticipated rate of return for your investments
How much do you currently have invested toward college in tax-free (EdVest or Coverdell Education Savings Account) accounts?
$
How much are you adding to your tax-free (EdVest or Coverdell Education Savings Account) accounts? Select one option and fill in the corresponding box. If desired, values in the box may be blank or zero.
$ monthly OR
$ annually
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	%

Single Return	Married Filing Jointly Return	Federal Tax Rate
2010 Federal Income Tax Brackets and Rates
$0 - $8,375	$0 - $16,750	10%
$8,376 - $34,000	$16,751 - $68,000	15%
$34,001 - $82,400	$68,001 - $137,300	25%
$82,401 - $171,850	$137,301 - $209,250	28%
$171,851 - $373,650	$209,251 - $373,650	33%
Over $373,650	Over $373,650	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

Sample Undergraduate Budgets (average), 2008-2009
Type of College	Annual Cost of Attendance
2-year public	$2,402*
4-year public (in-state)	$14,333
4-year public (out-of-state)	$25,200
4-year private	$34,132

*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 © 2008 published by the College Board.

Click here for a list of Wisconsin colleges and 2009-2010 tuition rates.

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This Web site is accompanied by a current program description (PDF) for the EdVest^SM plan.

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/NCUA INSURED • NO BANK GUARANTEE • MAY LOSE VALUE