How much would the cost be to send a kid to college in 2015? (please include everything)?

Here is your answer

The average public college in your state today is $15,566 and for a private college $31,916. If your child was to goto an out of state public college you could expect to pay $23,239. I used 9 years until your child goes to school.

So with that in mind here we go:

Current One-Year Costs: $15,566.00

Tuition Inflation Rate: 6.00%

Years to Enrollment: 9 years

Adjust after Matriculation: yes

First Year Projected Costs: $26,298.43

Second Year Projected Costs: $27,876.34

Third Year Projected Costs: $29,548.92

Fourth Year Projected Costs: $31,321.85

Total Projected Costs: $115,045.53

Current One-Year Costs: $31,916.00

Tuition Inflation Rate: 6.00%

Years to Enrollment: 9 years

Adjust after Matriculation: yes

First Year Projected Costs: $53,921.41

Second Year Projected Costs: $57,156.70

Third Year Projected Costs: $60,586.10

Fourth Year Projected Costs: $64,221.26

Total Projected Costs: $235,885.46

Current One-Year Costs: $23,239.00

Tuition Inflation Rate: 6.00%

Years to Enrollment: 9 years

Adjust after Matriculation: yes

First Year Projected Costs: $39,261.80

Second Year Projected Costs: $41,617.51

Third Year Projected Costs: $44,114.56

Fourth Year Projected Costs: $46,761.43

Total Projected Costs: $171,755.31

I do these numbers on a reg basis for myself I have 3 that will attend college in the future. The most important thing I can tell you is start saving now 529 plans are great vehicals. Also look at the link below to see what your portion on finacial aid, if any is available.

http://finaid.org/calculators/finaidestimate.phtml...

To save 115k you will need to save about $775/month with the a conservative growth rate of 7%. If you put $12000 away today (your exclusion amount for a gift) you would then need to pay into your 529 with about $625/month

If you need more help just email me.

As much as you can begin to save today in a 529 college savings plan approved by your state. Do not sacrifice your retirement by not funding that at the same time, however. When your boys get to college age, the difference between what you have saved in a 529 plan and the cost of college, will more than likely be made up through student grants and loans, if not by scholarships.

Good luck!

about 100 bucks a month if they get federal student loans. :-)