College cost calculator
Total cost of a degree including rising fees, living costs, savings and the loan you would need.
About the college cost calculator
Total cost of a degree including rising fees, living costs, savings and the loan you would need.
Part of SmartCalcy’s finance tools. It runs in your browser with no account, uses your own currency and units (change them at the top of the page), and gives estimates for information only, so check official guidance before you rely on a result.
How to use the college cost calculator
What it calculates and when to use it
Totals the cost of a degree including rising costs, living costs and aid, and shows the gap against your savings.
How to use it, step by step
- Enter yearly tuition, housing and food, and other costs.
- Enter years of study and when the course starts.
- Enter the yearly cost increase, your savings and your monthly saving.
What each input means
- Yearly cost increase – How fast tuition and living costs grow.
- Grants – Aid you do not repay, per year.
How to read the results
- Total cost after aid – Sum of each year’s inflated cost minus aid.
- Still to fund – Cost minus savings by the start date.
- Extra monthly saving – The monthly amount needed to close the gap.
The formula
Year k cost = base cost × (1 + increase)^(start + k − 1). Savings = FV of current savings and monthly deposits at the return. Extra monthly saving = gap ÷ future value of 1 a month.
A worked example
Tuition of 12,000, living costs of 10,000 and other costs of 2,500 a year, for 4 years starting in 8 years with 4% yearly increases cost about 142,384 in total. Saving 200 a month at 5% gives 23,548, leaving 118,836; you would need about 1,009 more a month to cover it.
Assumptions and limits
- All costs rise at the same rate.
- Student finance rules and tax differ by country.
Common mistakes
- Using today’s prices for a course that starts years away.
Frequently asked questions
Is aid inflated too?
Yes, here aid rises at the same rate as costs. If it is fixed, enter it as zero and adjust.
Related tools
Details
- Savings by the start date
- £23,548
- Still to fund
- £118,836
- Save extra each month to cover it
- £1,009
- Cost in today’s money
- £98,000
Cost by year
| Year | Cost | Aid | You pay |
|---|---|---|---|
| 1 | £33,530 | £0 | £33,530 |
| 2 | £34,871 | £0 | £34,871 |
| 3 | £36,266 | £0 | £36,266 |
| 4 | £37,717 | £0 | £37,717 |