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This
calculator will help you to determine how much money you need to invest
on a monthly basis now, in order to be able to pay for your child's
college education by the time they are ready to start college. The
calculator allows you to choose between In-State and Out-of-State,
between Resident and Commuter and between Public or Private -- and
adjusts the estimated costs according to those selections. Plus, the
calculator even adjusts the future cost of attending college based on
your own estimated rate of inflation.
Projected
Total Four-Year Costs of Attending College: Four-year costs are
based on The College Board's Annual Survey of Colleges for the
2000-2001 school year and include tuition, room and board (adjusted by
"resident"/"commuter" selection), transportation, books, and other
expenses. The costs are enrollment-weighted and inflated based upon
your selected estimated annual rate of inflation. An 8% annual return
on investment is assumed but does not represent a specific security.
The calculator also assumes no additional investments or earnings once
the child starts school and that investments are made at the beginning
of each school year.
The large
text box will display detailed instructions/information when clicking
in or tabing into any text box.
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