Education Planner – Version 4.00

All Data Entry cells show up in red.

The education planner considers one child at a time. It assumes that you will save money up to when your child enters school, but you will not contribute anything beyond that point. Enter the child’s name, age and the year you plan for them to begin college. You will also enter the annual cost of school, in today’s dollars, for a school like the one you assume you child will attend. You may consider calling a representative school to get an estimate of what room and board; tuition, books and fees are estimated to cost per year at such a school.

Inflation for Colleges has been averaging approximately 7% annually over the last decade.

What Lump Sum Today (less current savings) Will Fully Fund Goal?: This answers what amount of money, over and above your current education savings, invested at an assumed rate of return, will fully fund the goal.

Lump Sum Needed at Beginning of School: This indicated the amount of money you will need in an account when your child begins college, assuming you do not contribute any more savings to the account, to completely cover all assumed expenses.

Monthly Savings required: This indicates how much you will need to set aside to achieve your goal.

Repeat this process for each child.