Data Entry: Assumptions

The data entry for the College Funding calculator is divided into two sections: the assumptions, (shown below), and the student and college information, shown below the assumptions.

These fields build the assumptions for making the calculations. Each one is discussed below.

Annual increase in college expenses

Enter the estimated annual increase in costs for college expenses.

Rate of return on college investments

Enter the annual rate of return that will be earned on the current and additional college savings.

College payment frequency

This determines how frequently college is paid for. All options start college payments the first month that college starts. The detail of the various options are described below.

Annually: Payments are made annually on the first of the month.

Bi-Annually: Payments are made with two equal payments per year.

Quarterly-first 3 quarters: Three equal payments are made per year the first three quarters after college starts.

Quarterly: Four equal payments are made over the calendar year.

Monthly over 9 months: College costs are divided into 9 equal payments.

Monthly: College costs are made monthly over the calendar year after college starts.

College cost method

This selects how to determine the costs for the college education. The three methods are described below.

Average values: This uses the average values for the colleges. The average values, and the list for the various types of colleges, can be configured by selecting "File/Config" from the ribbon bar and selecting "College Types" in the navigator on the left.

Manual values: The cost of the individual college for each student can be entered manually.

Configure for each student: Each college added below can be configured to use either "Average values" or "Manual values."

Current college savings balance

This is the total current college savings balance.

Current monthly savings

Enter the total monthly savings for all college students.

Annual increase in savings

Enter the increase in savings a client will make each year.

Month to increase additional savings

Select the month that the client will increase their monthly savings (both current and any calculated additional college savings required).