What is a college planning calculator and how does it work?

A college planning calculator is an online tool that helps estimate the cost of college and create a plan for paying for it. It works by taking into account various factors such as the cost of tuition, room and board, textbooks, and other expenses, as well as the length of time a student plans to attend college, inflation, and potential scholarships or financial aid.

To use a college planning calculator, users typically input their personal and financial information such as their current savings, family income, and expected contributions from parents or other sources. The calculator then provides an estimated total cost of attending college and recommends a savings plan to help achieve the required funds. Some calculators also allow users to compare the costs of different colleges and universities based on their individual criteria.

Overall, a college planning calculator is a useful tool for students and families who want to plan and budget for the cost of college and avoid taking on excessive debt.