College Cost Calculator | Estimate Education Expenses
Plan for college expenses with our comprehensive cost calculator. Estimate tuition, room and board, books, and other expenses while accounting for inflation.
Category: Financial
College Expenses (Annual)
Funding Sources
Frequently Asked Questions
What expenses should I include when calculating college costs?
Beyond tuition, include room and board, books and supplies, transportation, personal expenses, and any fees charged by the institution. Don't forget to account for inflation, which typically increases college costs by 3-5% per year.
How much should I budget for college textbooks and supplies?
College students spend an average of $1,200-$1,500 per year on textbooks and supplies, though this varies by major. STEM and art majors typically have higher costs due to specialized materials and textbooks.
What funding sources are available for college expenses?
Common funding sources include savings (529 plans, education IRAs), scholarships and grants, federal and private student loans, work-study programs, and family contributions. Start by completing the FAFSA to determine eligibility for federal aid.
How does college inflation compare to general inflation?
College costs historically increase at a rate of 5-8% annually, which is significantly higher than the general inflation rate (typically 2-3%). This is why it's important to use a higher inflation rate when planning for future college expenses.