What this calculator does
College costs rise faster than general inflation. This calculator projects what one year of tuition will cost when your child actually enrolls, and the total cost across a multi-year degree program, using a compounding education inflation rate.
How to use it
Enter today's annual tuition, the education inflation rate (historically often 4–6% per year), the number of years until enrollment, and the program length. The tool compounds today's tuition forward to the enrollment year and multiplies by the program length to estimate the total bill.
The formula explained
Future tuition uses standard compound growth: $$\text{FV} = \text{PV} \times (1 + r)^{n}$$ where PV is current tuition, r is the inflation rate as a decimal, and n is years until enrollment. Total program cost is that enrollment-year tuition multiplied by the program duration, giving a planning estimate of the full degree cost in tomorrow's dollars.
Worked example
With current tuition of $25,000, a 5% education inflation rate, 10 years until enrollment, and a 4-year program: $$\text{FV} = 25{,}000 \times (1.05)^{10} \approx \$40{,}722 \text{ per year}.$$ $$\text{Total} = 40{,}722 \times 4 \approx \$162{,}887 \text{ across the degree}.$$
FAQ
What inflation rate should I use? College tuition inflation has averaged roughly 4–6% annually, higher than general CPI. Use a conservative figure to avoid underestimating.
Does this include room, board, and fees? No — it models tuition only. Add other annual costs to current tuition if you want a fuller estimate.
Why is total cost just first-year tuition times duration? This gives a simple planning estimate in enrollment-year dollars. Real costs may rise further each year of study, so treat the figure as a baseline.
