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College Savings Calculator

Please note: The calculator must be used for informational purposes only. The accuracy of this tool depends on the data entered by you. For truly accurate numbers, please speak with one of our associates.

Aside from saving for retirement, developing a strategy for financing a college education may be one of the most important investment exercises you will ever undertake. To determine how much you'll need to save/invest annually to pay for your child's education, take a few minutes to fill out this worksheet.

Current annual costs:*
Number of years in college:
Amount you've already put aside:
Your child's age now:
College costs will increase		% a year
Your investments will return		% a year after taxes.
Your child will enter college at age


Four years of college will cost
(a) The future value of your investment is
(b) Your annual contribution needs to be

This calculator is provided for illustrative purposes only and is not intended to be representative of actual results. The information has been obtained from sources believed to be reliable, but we do not guarantee its accuracy. Investment results can vary considerably depending on the type of securities involved, general market conditions and other factors.

* According to the Annual Survey of Colleges, The College Board, New York, NY., the national average for the 2003-2004 school year is $10,636 for public school resident students and $26,854 for private college resident students, which includes room, board and tuition.

a) Based on assumptions used, this will be your college savings pool when your child enters college.

(b) Amount to add to college savings fund at the start of each year.

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NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE COVERAGE FOR TRANSACTION ACCOUNTS
All funds in a "noninterest-bearing transaction account" are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC's general deposit insurance rules. The term "noninterest-bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, money-market deposit accounts, and Interest on Lawyers Trust Accounts ("IOLTAs"). For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.