College Cost Calculator

For the 2025-2026 academic year, average costs are approximately: In-state public university: $25,000-$28,000/year. Out-of-state public university: $40,000-$45,000/year. Private university: $55,000-$60,000/year. These include tuition, room, board, and fees. Costs vary significantly by institution and location.

A common target is to save one-third of the total cost: one-third from savings (like 529 plans), one-third from current income during college years, and one-third from financial aid and loans. For a public university costing $100,000 over four years, aim to save approximately $33,000.

A 529 plan is a tax-advantaged savings plan designed for education expenses. Contributions grow tax-free, and withdrawals are tax-free when used for qualified education expenses (tuition, room, board, books, computers). Many states offer tax deductions for 529 contributions.

Historically, college tuition has increased 3-5% annually, well above the general inflation rate. Over four years, this compounds significantly: a $30,000/year cost growing at 4% annually becomes approximately $134,000 in total four-year costs versus $120,000 without inflation.

Research consistently shows that college graduates earn significantly more over their lifetimes than those with only a high school diploma — approximately $1 million more on average. However, the return on investment varies by major, institution, and individual circumstances. Use the calculator to evaluate costs against expected earning potential in your chosen field.