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Calculators


Got a question that involves number crunching? Use the calculators on this page to find the mathematical answer to the most commonly asked number-crunching questions, and see your inputs displayed next to the graph, chart, and/or table output in a side-by-side display.

Calculator: Print This Page
Saving for College Calculator
Projected Costs
$

College inflation typically runs 4% to 6% per year.

How Your Savings Match Up
$
$
%

This calculator projects the future cost of college and illustrates how your savings, if any, match up for each year of college. If there is a funding shortfall, the calculator shows that amount each year, and calculates both the monthly savings amount and the lump-sum amount needed to eliminate the shortfall.


Saving for College Calculator Chart

These results are based on the supplied data shown and the assumptions that follow.

Projected cost of college (total for all years): $397,677

Amount you want to fund: $397,677

Projected value of college savings: $229,860

Shortfall: $167,817
Your savings would fall short of your funding goal by:

... year 1 $39,579
... year 2 $41,122
... year 3 $42,725
... year 4 $44,391

Funding the shortfall would require additional monthly contributions of $588.49 or a one-time lump-sum payment today of $83,356.49.



    Assumptions

  • The projected value of college savings does not take into account federal or state income taxes, or investment fees and expenses, all which may vary depending on the savings vehicle selected (e.g., 529 plan, mutual fund, certificate of deposit). Earnings are compounded monthly. This is a hypothetical example and is not intended to reflect the actual performance of any specific investment, nor is it a guarantee of future value. The projection assumes a fixed annual return; the rate of return on your actual investment portfolio will be different, and will vary according to actual market performance. This is particularly true for long-term investments. It is important to note that investments offering the potential for higher rates of return also involve a higher degree of risk to principal.
  • College savings, if any, are mapped proportionately against each year of college. Savings not used in a given year continue to earn interest at the rate selected.
  • The shortfall is the difference between the projected cost of college (adjusted by the percentage of costs you want to fund) and the projected value of college savings.
  • If there is a shortfall, the calculator determines both the extra monthly savings needed (in addition to any monthly savings currently being made) and the lump-sum amount needed today to eliminate the shortfall. If there is a surplus, this number represents the amount of money you’ll have left over after paying all college costs.
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Securities offered through LPL Financial, member FINRA/SIPC.  Insurance products offered through LPL Financial or its licensed affiliates. Kern Schools Federal Credit Union and Kern Schools Wealth Management are not registered broker/dealers and are not affiliated with LPL Financial.

Investment Advisory Services offered through LPL Financial, a Registered Investment Advisor

The investment products sold through LPL Financial are not insured Kern Schools Federal Credit Union deposits and are not NCUA insured. These products are not obligations of the Kern Schools Federal Credit Union and are not endorsed, recommended or guaranteed by Kern Schools Federal Credit Union or any government agency. The value of the investment may fluctuate, the return on the investment is not guaranteed, and loss of principal is possible.

 


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