THE NUMORIX GUIDE
How to use the College Savings Calculator
Last reviewed September 14, 2026
What this calculator does
The route calculates years until college, inflates annual college cost by (1 + inflation)^years, and multiplies that future annual cost by years in college.
Formula and method
The route calculates years until college, inflates annual college cost by (1 + inflation)^years, and multiplies that future annual cost by years in college. It projects current savings with annual return and monthly contributions with a monthly annuity factor, then reports the positive difference between total need and projected savings. The separate months-to-goal loop grows current balance monthly toward total need.
Variables and inputs
Enter child's current age, college start age, years in college, current annual college cost, current savings, monthly contribution, expected annual return, and college inflation. Ages and years are years; cost and savings are dollars; return and inflation are annual percentages.
Worked example
For a child age 5 starting at 18, there are 13 years. At $25,000 annual cost and 5% college inflation, future annual cost is 25,000 x 1.05^13 = about $47,141 and four-year need is about $188,564. At 7% return, current $10,000 grows to about 10,000 x 1.07^13 = $24,098 before adding the future value of monthly $300 contributions.
How to interpret the result
The shortfall compares a future education-cost target with modeled savings at the college start date. Education inflation and investment return are separate assumptions; increasing either can materially change the result. The output does not select an account or funding source.
Common mistakes to avoid
Use today's annual cost, not the already inflated future cost, when entering annual college cost. Keep college inflation separate from investment return. Make sure college start age is later than the child's current age.
Assumptions and limitations
The model assumes one cost per year, one return, one inflation rate, and regular monthly contributions. It does not model tuition by year, room and board variation, scholarships, financial aid, taxes, account fees, withdrawals, or market losses. The months-to-goal loop uses a simplified target convention.