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This college savings calculator shows how much money you may be able to save for your child's or children's education by the time they are ready to start school. Based on the amount you may save, and the estimated total cost of college, this calculator will help to determine the amount of savings you may have remaining.

 

With the cost of college projected to increase 6.5% a year, the total cost of sending your child to school is estimated to be about $72,939. After your child graduates from school, you could expect a shortfall of $21,345.

 
Current College Savings
Taxable(Brokerage Account)
$5,000
Tax-Free (529 Plan)
$5,000
Current College Annual Contributions
Taxable(Brokerage Account)
$1,000
Tax-Free (529 Plan)
$1,000
 
Tax Rate (Federal & State)
25.00%%
6.50%%
Number of Students
 
Name of Student
School of Choice
10
Current Age
10
College Age
 
Years in College
4
Annual Estimate
$10,000
 
A Coverdell Education Savings Account (ESA) from Scottrade is a convenient, tax-free way to save for future educational expenses.
For details on criteria, calculations, limitations and assumptions used, please see:

Calculations & Assumptions
This calculator is for informational purposes only and should not be considered investment advice. The results presented by this calculator are hypothetical and may not reflect the actual growth of your own investments. Scottrade is not responsible for the consequences of any decisions or actions taken as a result of information provided by this tool. Scottrade is not responsible for any human or mechanical errors or omissions. Please consult a tax, legal, or financial advisor with questions regarding your investment objectives and personal tax or financial situation.
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