Estimate How Much You Need for College

College Savings Calculator

With the cost of college constantly on the rise, it's never too early to start saving! Our free, online "College Savings Calculator" is a great way for parents and students to estimate how much they'll need to save for higher education.

Enter your information in the boxes below. Please do not include commas or dollar signs. When you click "Calculate," the amount you need to save each year will appear below.

Calculators are provided for consumer use. Accuracy is dependent on user input. Mission Valley Bank is not responsible for user results nor does the bank guarantee accuracy.

Help with terms used on the calculator.



Your Results

Click the "CALCULATE" button to view your results.

College Savings Calculator Help


Years to College

How many years before you/your child will enter college?   
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Current Savings

How much do you currently have set aside for your/your child's college education?
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Rate of Return

What is the average annual long-term investment return you expect to earn on your college savings? The lower the expected rate, the more you'll need to save to meet your goal. For stocks or mutual funds you should consult a prospectus. Please be aware that past performance is no guarantee of future performance. 

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Current Annual Cost

What is the current annual cost for the college of your choice? Remember to factor tuition, room and board, and books into your calculation. If you are unsure, a typical public university costs about $8,000 per year and a typical private university can run $20,000 per year, today.

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Annual Increase

What is the percentage that the annual cost might increase? A good rule of thumb is that tuition rates will increase at about twice the general inflation rate. On average, tuition tends to increase about 8% per year. 

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Number of Years Enrolled

How many years will your child take to complete college? Remember some courses of study may take more than the typical four years. 

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