College Savings Calculator | Saving for College
With student loan debt at an all-time high, exceeding both automobile and credit card debt in the United States, it’s more important than ever to save for your education as far enough in advance as possible. It’s never too early to start building an education fund for yourself or for your children. Use the building an education fund calculator to help you determine approximately how much you will need to save on a regular basis before college begins.
The earlier you build and contribute to an education fund, the less you will have to rely on student loan and credit card debt to fund your education and the more likely you will be to lead a financially healthy life after college. According to a recent ACCC poll, 77 percent of respondents have outstanding student loan debt. Many feel that their debt has held them back from achieving traditional milestones such as getting married, buying or leasing a car, buying a home, have a child, etc. For a full breakdown of the results of the student loan debt poll, check out the infographic.
Download ACCC’s financial workbook for pre-college and current college students for information on everything from choosing a bank and credit card to how to earn money from part-time jobs and scholarships and how to save money during college on textbooks, rent, clothing, and electronics.