How Much Do I Need?

The Cost of Education

Industry experts calculate the total cost of attending a four-year university at between $50,000–$100,000 depending on the school.

And costs are on the rise. According to the College Board, a national nonprofit association, the average cost of a four-year public school rose 7.7 percent to $3,754. Likewise, the cost of private universities rose 5.5 percent to $17,123.

In addition to tuition, factor in:

• Lots of expensive books
• Room and board
• Transportation
• Miscellaneous expenses that add up

A Great Investment

But it's worth it. The U.S. Census Bureau reports that people with a bachelor's degree typically earn more than 80 percent more money than people who merely graduated from high school. Eighty percent! So while it may be expensive, it's a great investment. And that's good news for parents looking forward to an empty (or at least roomier) nest.

And the REALLY good news is that the amount of available student aid is also rising. To figure out how much you'll need for your child's education, see the planning calculator.