How much should I save for my children’s college education?
How much you save for your children’s college education will depend on a variety of factors, including the cost of tuition, how many children you have, how many years until they begin college, and your own financial situation.
Our calculator below can give you an idea of how much you should consider saving each month. It considers variables such as the age of your children, how many children you have, the rate of inflation, and rate of returns on your investments. It does not consider variables such as scholarships or other financing sources such as student loans, which is important to remember as you begin your savings plan for your children’s education. Bellco members can learn more about higher education funding through Sallie Mae® Student Loans and higher education savings options from CFS.
If you have younger teens, you can start teaching them financial responsibility at an earlier age with a Bellco Free Student Checking Account.
The calculator provided on this page is provided for general and educational purposes only. It is not intended to provide legal, tax, or investment advice. The accuracy of this online tool and its applicability to the information provided is an estimate and is not guaranteed. Your actual figures (i.e., monthly saving amount, cost of tuition, etc.) could vary based on many factors.