Cost of Delaying Savings Calculator
If you select a state, the in-state cost estimate will be used for the Public Four-Year In-State colleges in that state. If you do not choose a state, the cost estimate of public in-state schools will be the national average for all Public Four-Year In-State colleges, and the cost of individual public colleges will be the out-of-state costs.
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An average based on the financial aid office estimates of the amount needed by a student to cover expenses such as laundry, transportation, entertainment, furnishings, and similar expenses. While these costs are not paid directly to the college, they are expenses that students tend to incur and will vary from student to student.
The estimated average cost of books and supplies for a typical student for an entire academic year.
The charges for meals and rooming accommodations for a typical student sharing a room with one other student for an academic year.
The assumed annual rate of increase in college costs.
The aggregated cost of college based on the college's current costs as reported to the IPED's database increased by the specified Tuition Inflation amount.
44% of future college cost is $0
Use the slider below to select a savings goal as a percent of the estimated future cost of college. The rest will be assumed to be funded by financial aid, student employment, current income, and/or loans.
Alternative Funding - $0 (this amount is assumed to be funded by financial aid, student employment, current income, and/or loans)
Please provide the total amount of college savings that you currently have saved in 529 plans, brokerage accounts, savings accounts, or other savings vehicles.
The hypothetical average pre-tax rate of return you expect for your college savings.
Summary
Your Savings Goal
$0
Monthly Contribution Needed
$0
With $0 currently saved and a 6% rate of return, you must save $0 per month to meet your savings goal of $0. The table below lists the additional and total monthly contributions needed for each year savings is delayed for the next
five years.
| Years Delayed The amount of years savings is delayed | Additional Monthly Contribution The additional amount you’ll need to save each month if you delay your savings by the years delayed | Total Monthly Contribution The total amount you’ll need to save each month if you delay your savings by the years delayed |
|---|---|---|
| 1 | $0 | $0 |
| 2 | $0 | $0 |
| 3 | $0 | $0 |
| 4 | $0 | $0 |
| 5 | $0 | $0 |
Additional Monthly Contributions
The chart below shows the additional amount you will need to save each year if you delay the start of your savings program. For example, hover over year 1. If you wait one year to begin saving, you will have to increase your monthly contribution by $0 to reach the same end savings amount as if you began saving today.
Recapturing Delayed Savings
The information above assumes a savings goal that is 44% of the total cost of college. Below is analysis of how choosing savings goals at different percentages of college cost affects the monthly contribution needed to meet the goal, and how much more it increases every year that savings is delayed.
Monthly Contribution
| Years Delayed | 100% of Cost | 75% of Cost | 50% of Cost | 25% of Cost |
|---|---|---|---|---|
| 0 | $0 | $0 | $0 | $0 |
| 1 | $0 | $0 | $0 | $0 |
| 2 | $0 | $0 | $0 | $0 |
| 3 | $0 | $0 | $0 | $0 |
| 4 | $0 | $0 | $0 | $0 |
| 5 | $0 | $0 | $0 | $0 |