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Life Planning Center > Paying For College
Developing a Funding Strategy
  • Pre-Funding the Cost
  • Your Pre-Funding Strategy Depends upon where You Are Now
  • Monthly Investment Program
  • Your Investment Objective
  • Understand Risk
  • Basic Strategies
  • How Is Investing for College Different from Other Investing?

Monthly Investment Program

This table* shows how much more you have to invest each month, the later you begin a college investment program for your child.

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Child's Age
Now

Public College
$20,000/Year

College
$30,000/Year

Private College
$40,000/Year

0 $390 $585 $780
1 $406 $609 $812
2 $423 $634 $846
3 $442 $663 $884
4 $462 $694 $924
5 $486 $728 $972
6 $511 $767 $1,022
7 $541 $811 $1,082
8 $574 $860 $1,148
9 $612 $917 $1,224
10 $656 $984 $1,312
11 $708 $1,062 $1,416
12 $770 $1,155 $1,540
13 $846 $1,269 $1,692
14 $941 $1,411 $1,882
15 $1,062 $1,593 $2,124
16 $1,224 $1,836 $2,448
17 $1,450 $2,175 $2,900
18 $1,789 $2,683 $3,578

* Assumes you start investing at the age of your child in the left-hand column and you invest each month through their senior year of a four-year college. College costs go up 5% per year and you invest your money, after taxes, at 7% per year.

To reasonably expect a 7% rate of return, you're going to have to take some risk and invest in stocks or growth investments.

Clearly, the longer you wait, the more you'll have to put away each month to cover the cost. Saving now makes it easier when the time comes to pay the bills.

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Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Franklin Mint Federal Credit Union and Mint Wealth Advisors are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Mint Wealth Advisors, and may also be employees of Franklin Mint Federal Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Franklin Mint Federal Credit Union or Mint Wealth Advisors. Securities and insurance offered through LPL or its affiliates are:

Not NCUA Insuredor Any Other Government Agency No Credit Union Guarantee Not Credit Union Deposits May Lose Value

The LPL Financial Registered Representatives associated with this site may only discuss and/or transact securities business with residents of the following states: NJ, PA, NY, DE, AZ, MI, FL, MD, TX, VA, GA, NC.



Financial Learning Center content created by TrueBridge, Inc. The information provided is based upon sources and data believed to be accurate and reliable. The content contained herein is intended for information and illustrative purposes only, should not in any way be construed as a personal recommendation, and should be used in conjunction with individual professional advice.

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