If your child is 2, how much will you have to pay for college when your child starts attending at the age of 18? To estimate your future expenses, you can use this calculator:
http://finance.yahoo.com/calculator/college-education/col-02
This calculator factors in an "Annual college cost inflation" of 6%.
What I like about this calculator is that you can enter the information for more than one child at once. The calculator will show you the results one graph and on one table.
What I don't like about this calculator is that you have to guess what the annual cost of the college would be today. This prediction is not easy to do. For example, it does not take into account any financial aid your child might receive.
To get the most information with this calculator, as with any calculator, type in and compare a number of your estimates.
Wednesday, November 5, 2008
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