The Lifetime Education Cost Planner helps you estimate the total cost of your child’s education from kindergarten through college. By factoring in tuition inflation, investment growth, and your savings contributions, this calculator shows you whether you’re on track to fully fund their education or if you need to adjust your savings strategy. All of the data are inflation adjusted. Dynamic cash flow is calculated each month to keep track of the savings deposit, education spending (annual withdrawal) and investment compounding. Make informed decisions about private vs public school choices and see your projected savings balance at each stage.
Lifetime Education Cost Planner Calculator
Child Information
Savings Plan
Education Stages Configuration
Elementary School (Kindergarten – 6th Grade, 7 years, Ages 5-12)
Includes tuition & fees
High School (7th – 12th Grade, 6 years, Ages 12-18)
Includes tuition & fees
College (4 years, Ages 18-22)
Includes tuition, room & board
Note on Default Values: Default costs are based on 2024-2025 US national averages. Private elementary: ~$13,000/year; Private high school: ~$18,000/year; Private college: ~$55,000/year (includes room & board). Public school costs include estimated fees and supplies. Tuition inflation default of 3.5% reflects the 10-year average for private schools. Adjust these values based on your specific situation and location.
Lifetime Education Cost Planner Calculator Instructions
- Child’s Current Age: Enter your child’s current age. Use negative numbers for future children (e.g., -2 if expecting in 2 years).
- Tuition Inflation Rate: The default 3.5% reflects the 10-year average for private school tuition increases. Adjust based on your expectations.
- Current Education Savings: Enter any existing savings dedicated to education. If none, leave at 0.
- Expected Annual Investment Growth: Your anticipated return on education savings (default is 6%).
- Monthly Contribution: How much you plan to save each month for education costs.
- Annual Contribution Increase: Percentage by which you’ll increase contributions each year (default 3%).
- Education Type Selection: Check the boxes for Private School/College or uncheck for Public. Default costs will update automatically.
- Customize Costs: Override the default annual costs with your specific school or college estimates.
- Click Calculate: See total costs for each stage, your projected savings at each entry point, and your final position after all education is paid for.
- Review Results: Check the “Status” at each stage to see if you’re fully funded, nearly there, or underfunded for that upcoming education phase.