College Savings Calculator (2024)

Start shifting your mindset.

Learn More Close

Maybe that number was a lot bigger than you expected. Don’t stress. It’s going to take some hard work to get that dollar amount down, but it is possible. Student loans are not an option—so don’t even begin to think about that.

Action Steps

• Watch the student loan documentary, Borrowed Future.
• Learn about your other options besides student loans.
• Get a job and start saving.

Redefine the dream school.

Learn More Close

The only dream school out there is the one you can graduate from debt-free. Keep an open mind, and try exploring more options.

Action Steps

• Try the calculator again with a state school or a community college.
• Ask yourself: Do I really need to go to a four-year university?

Search for scholarships.

Learn More Close

Scholarships are a key part of graduating debt-free, and there are tons available.

Action Steps

• Learn how scholarships work and how to find them.

Focus on grades and testing.

Learn More Close

As you get closer to graduation, you have to stay focused! Your grades, test scores and behavior can affect your scholarship awards and determine whether or not you even get into college. You’re almost done—don’t mess it up now!

Action Steps

• Plan for college and get graduation ready.
• Take the SAT as early as possible and as many times as possible.
• Take the ACT as early as possible and as many times as possible.
• Take as many advanced classes and CLEP tests as you can.

Start shifting your mindset.

Learn More Close

Get serious about tackling this number. It’s going to take some hard work from both you and your student, but you can get this dollar amount down! Whatever you do, do not—I repeat—do not take out a single loan. While student loans are meant to make life easier, all they do is cause a lifetime of stress for you and your child.

Action Steps

• Watch the student loan documentary, Borrowed Future.
• Learn about your other options besides student loans.
• Understand how scholarships work and how to find them.

Redefine the dream school.

Learn More Close

If your child can’t go to their dream school without going into debt, it’s time to consider other options.

Action Steps

• Try the calculator again with a state school or community college.
• Talk with your child about the options outside of a four-year university.

Set expectations and goals.

Learn More Close

Help your teenager stay focused on the end game by encouraging them to keep their grades up, take advanced classes and stay out of trouble.

Action Steps

• Plan for college and get graduation-ready.
• Encourage your student to start taking the SAT as early as possible.
• Encourage your student to start taking the ACT as early as possible.

Take care of your future first.

Learn More Close

A lot of parents put paying for college above saving for their own retirement. Don’t do that! I know you want what’s best for your child, but your first responsibility is to make sure your own finances are in order. They’ll follow your example—remember that.

Action Steps

• Join a Financial Peace University class with others locally or from home online.
• Read The Total Money Makeover, by Dave Ramsey.
• Track your spending. Sign up for the EveryDollar budgeting tool for free!
• Don’t even know where to start? Take our free assessment.

Start shifting your mindset.

Learn More Close

Get serious about tackling this number. It’s going to take some hard work from both you and your student, but you can get this dollar amount down! Whatever you do, do not—I repeat—do not take out a single loan. While student loans are meant to make life easier, all they do is cause a lifetime of stress for you and your child.

Action Steps

• Watch the student loan documentary, Borrowed Future.
• Learn about your other options besides student loans.
• Learn how scholarships work and how to find them.
• Talk to your student about the dangers of debt and set financial goals together.

Redefine the dream school.

Learn More Close

If your child can’t go to their dream school without going into debt, it’s time to consider other options.

Action Steps

• Try the calculator again with a state school or community college.
• Talk with your child about the options outside of a four-year university.

Set expectations and goals.

Learn More Close

Help your teenager stay focused on the end game by encouraging them to keep their grades up, take advanced classes and stay out of trouble.

Action Steps

• Encourage your student to start taking the SAT as early as possible.
• Encourage your student to start taking the ACT as early as possible.