A majority of young people aspire to attend college and their parents typically support that decision by placing value and priority on higher education. College planning almost always includes a conversation regarding the cost of tuition and the potential contribution from various financial aid sources. These funds are basically used to cover tuition and perhaps books but there are other fees such as room and board that also need to be discussed. The total cost of college calculator can help students create an accurate picture of college and prepare students and parents alike for the estimated financial obligations that college entails.
Building a Cost of College Calculator
The template is quite easy to use and includes a number of different factors that are relevant to parents who establish a college savings account. Regardless of the age of the child when the savings plan begins, contributions from all sources are still considered as line items in the cost of college calculator. The free template can be downloaded here for free and parents can begin working on their college savings goals without leaving this page. Individuals can customize the template by adding special contributions or expenses that are expected to impact their college savings plan.
Creating a Comprehensive College Budget
Planning for college may include creating a cost of college calculator that covers more than one child who will be entering college around the same time. Even with these unusual circumstances, a cost of college calculator has room to accommodate the various situations that may arise when a college savings plan is put into practice. Some of the fields that are already included in the template include:
- Age of student
- Number of years to save
- Estimated tuition cost per year
- Estimated family contribution per year
- Estimated student aid contributions per year
Because the template is so easy to customize, users find that they can quickly make adjustments to create hypothetical scenarios that would potentially alter their ability to consistently save the same amount for college each month.
Download: Cost of College Calculator
- College Costs Calculator
- College Cost Calculator
- College Cost Savings
- College Loan Calculator
- School Expense Calculator
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