FINANCIAL NEEDS ANALYSIS

 

 

 

 

THINK ABOUT HOW MUCH TUITION and other costs have risen since you went to school. Then multiply a college education price tag by the number of booster seats you've seen around your breakfast table over the years.  It's easy to jump to the conclusion that your projected college savings budget could rival that of the Defense Department.  Using the tables on this page and the attached worksheet we will help you take stock of how big that number really has to be and to take stock of what you've already got.

Expected cost for public and private schools (including tuition, room and board, transportation, books and other expenses, are shown in Table 1.
Enter the approperate values from these tables into the Worksheet (Click here to bring up Worksheet).  Where computer capabilities are limited it may help to print these tables for use in entering the information in the Worksheet.

Table 1. Expected Four - Year Cost Of Attending College

Years
Beginning

Public
College
Private
College
Years
Beginning
Public
College
Private
College
2007
$74,579
$217,298
2014
$112,139
$326,736
2008
$79,054
$230,336
2015
118,868$
$346,340
2009
$83,797
$244,156
2016
$126,000
$367,120
2010
$88,825
$258,805
2017
$133,560
$389,147
2011
$94,154
$274,333
2018
$141,573
$443,496
2012
$99,804
290,793
2019
$153,560
$512,367
2013
$105,792
$308,293
2020
$168,573
$553,419

Table 2 Lump-Sum
Multiplier
Table 3 Monthly
Savings Divisor
Years Until Child
Begins College
Multiplier
Years Until Child
Begins College
Divisor
18
4.0
18
572.7
17
3.7
17
518.7
16
3.4
16
468.7
15
3.2
15
422.4
14
2.9
14
379.5
13
2.7
13
339.8
12
2.5
12
303.0
11
2.3
11
269.0
10
2.2
10
237.5
9
2.0
9
208.3
8
1.9
8
181.3
7
1.7
7
156.3
6
1.6
6
133.1
5
1.5
5
111.6
4
1.4
4
91.8
3
1.3
3
73.4
2
1.2
2
56.4
1
1.1
1
40.6

 
 
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