How much to save each year for college

by Grace

How much do you need to save each year to pay for your child’s college?

NerdWallet calculated the amounts based on average costs of college and expected increase in annual costs.

Do you want to fund 50% of your child’s college costs?  If your child is ten years old, then you’ll have to save almost $6,000 a year to pay half his costs to attend an in-state school.

20150519.COCSaveForCollege2

If you’d like to fine tune your calculations, try using the World’s Simplest College Cost Calculator from SavingForCollege.

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