College Savings Calculator

A college savings calculator is a great tool to plan for the future for your kids.

As with any other part of managing your money, if you have kids and you choose to pay for them to go to college, then you will have to create a plan to save money for college.

The last thing that you want for your kids is to be saddled with debt when they graduate college. So use this savings calculator to determine the best plan to create and follow.

Your first step is to determine how much you will need to save. Enter in what you have saved already, what you plan to contribute each year, what the current college costs are, your kids ages, the rate of return you plan to get and what the education inflation rate is. Then hit calculate.

I know it seems overwhelming when you start to think about saving for college for your kids. So just take the first step and start saving today with an ING Direct Savings account. The Orange Savings Account. Earn high interest. Great rates, no fees, no minimums. Start saving in under 5 minutes.

Just take one step and then another and before you know it you be following your plan and will have saved the money your kids will need.

Remember to look to your employer to see if they have education savings plans, and if you are in Canada, look into Registered Education Savings Plans (RESPs). These are plans where the government will contribute money to your plan based on how much you contribute.

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