Are you saving enough for college?

The sooner you start saving for your child's education, the better your chances are of keeping up with rising tuition costs. But how do you set a realistic savings goal? In developing a plan, you should consider more than just the age of your child and the cost of tuition at your local college. Use the Tuition Savings Calculator to consider these factors as well as others--such as how much interest your money will earn, and how fast tuition is rising.

Results

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To meet your child's future college costs, you should make an annual deposit of $6,256.
Initial balance	$1,000
Total deposits	$62,557
Total interest earned	$31,710
Total taxes paid	$7,928
Total college savings fund	$87,340
Now, develop a plan for your entire family. Complete the steps for each child, and add the results to arrive at your overall educational savings plan.