College Funding Calculator

Estimate what it takes to fund college for your children — as a lump sum today or as even payments over time

Children
Child 1
Savings & Return Assumptions
$
e.g. 529 plan balances, savings set aside for college
%
Nominal annual return on savings/investments
Annual Costs, Inflation & Funding Goals

Costs are per student per year in today's dollars. Defaults approximate Penn State University Park in-state rates. The funding goal is the share of each category you want this plan to cover.

Today's Annual Cost
Inflation Rate
Funding Goal
$
%
%
$
%
%

Books, travel, misc.
$
%
%
Tax-advantaged savings strategies: How you save can matter as much as how much you save. 529 college savings plans offer tax-deferred growth and tax-free withdrawals for qualified education expenses, and many states (including Pennsylvania) allow a state income-tax deduction for contributions. Federal education tax credits — such as the American Opportunity Tax Credit and Lifetime Learning Credit — may also reduce out-of-pocket costs, though eligibility rules and interactions with 529 withdrawals can be complex. Please discuss these strategies with a financial or tax professional before acting.
Disclaimer: This tool is for educational illustration only and is not financial, tax, or legal advice. Default costs approximate published Penn State University Park in-state rates and will differ by school. Inflation rates and investment returns are assumptions. Actual results will vary.