Quick Guide to College Costs Start saving today! The sooner you start the more time you have to earn interest on your money. Amount you would need to save to have $10,000 available when your child begins college. (Assuming a 5% interest rate) |
| If you start saving when your child is: | Number of years saving | Approximate monthly savings | Principle | Interest earned | Total savings |
| Newborn | 18 | $29 | $6,160 | $3,840 | $10,000 |
| Age 4 | 14 | $41 | $6,896 | $3,104 | $10,000 |
| Age 8 | 10 | $64 | $7,696 | $2,304 | $10,000 |
| Age 12 | 6 | $119 | $8,561 | $1,439 | $10,000 |
| Age 16 | 2 | $395 | $9,460 | $510 | $10,000 |
Find out more ways to save for college.
Family Educational Rights and Privacy Act
Click here for information regarding your child's privacy rights once your child enters college.