Develop a college investment plan
step five
How much must you save every year (or month) to meet your target?
Go again to “Calculators” at finaid.org. Under “Savings,” choose “Savings Plan Designer (flat contribution).” Type in:
- the amount of your current savings, if any
- your projected interest rate on savings, if it’s different from the default number that already appears
- the number of years before your child begins college
Choose how often you plan to make investments.
Type in your savings goal and current one-year costs for your target school.
Hit “Calculate” to get a summary of your calculations and to find out how much you should invest regularly in order to meet your target.
