The first step in planning for your child's college education is to estimate how much it will cost. By using the cost of college today, an average college-cost inflation rate (estimated to be around 5% - 7%) and the number of years you have until your child goes to college, you can estimate the total amount required to fund your child's education. The calculator below will give you a good idea of the total amount you will need to send your child to a public or private school. Once you have an estimate of the amount you must save, you can make an informed decision on what type of school you can afford and how to save the necessary funds.