How To Calculate The Potential Cost Of College For Your Child

How can I calculate the potential cost of college for my child?

Calculating college costs is probably one of the most difficult things to do, because there has been such a large inflation rate on college costs recently. Probably a rate of inflation of between 7% and 1% a year. What you want to do is think about the potential colleges that your child might go to, contact them directly and try to find out what it costs to go to those colleges today. You want to look beyond tuition costs when calculating college costs. You also ought to look at the cost of living. Some schools are in very expensive areas. So what the cost of living might be, books, fees, tuition. And if it's not local, you want to factor in also the transportation costs for the child to come home and visit for holidays.