By third grade, your child is halfway to college. Are you halfway through paying for it?
For most Mississippi families, that answer is no, so we've put together a helpful calculator to help you set the right goals for your family's budget. Simply enter your child's information below and click CALCULATE.
Your child has years until college and would like to attend
for year(s) and plans to live .
You wish to save enough to pay for % of projected college costs.
Expect college costs to increase by % per year.
Expect to earn % after-tax each year in your college savings fund.
One moment please..
“These calculations are made available to you as educational, self-help tools and are intended to provide you with approximate estimates of potential future tuition costs, potential savings invested in a hypothetical 529 college savings plan, monthly and yearly contributions that may be needed to fund your child's education. There may be additional costs associated with attending college that have not been factored into the calculations, such as miscellaneous administrative charges, discretionary meal expenses, supplies, etc.
The results presented are hypothetical illustrations and may not reflect the actual growth, if any, of your investment in a particular 529 plan. Any hypothetical rate of return used does not reflect actual performance or predict future results of the program. Rates of return will vary over time. Investments which seek to achieve higher rates of return are more volatile and involve a higher degree of risk.
The calculator takes into account tax variables based upon what you select. There may be limitations or restrictions on eligibility for tax benefits depending on the tax code in your state of residency.
These calculations do not constitute investment advice. As your financial situation changes, you should review your investment goals, time period for college investing, and personal financial situation and reassess whether you are investing enough to meet your college savings goals. You may want to consult with a qualified advisor before making an investment.
The calculations do not reflect management, administrative and other fees associated with 529 plans. If these fees had been reflected, any growth of the total contribution during the same investment period would have been lower. Investments in a 529 Plan are neither insured nor guaranteed and there is the risk of investment loss. Account value will fluctuate based upon a number of factors, including general financial market conditions.”