College Planning

Get ideas about how to help fund a child's college education. 

On this page: 

Savings goals

One of your savings goals might be to help your children, grandchildren, or other students you know pay for a college education. As tuition costs increased at a rate greater than inflation over the past 20 years,1 it's important to think strategically about college planning.

Be sure to max out your retirement accounts first, then prioritize and contribute to other savings goals, such as helping relatives pay for college. 

Start saving early

If the cost of college continues to rise along its historical trend, newborns will need approximately $275,0001 to attend a four-year, in-state public university, and over twice that to attend a private school.

While this figure may seem high, remember that saving for college is like saving for retirement—by starting early, investing regularly, and contributing as much as you can, you give yourself the best chance of success. 

Check box icon

What you can do now

  • Get more details on paying for college—including how undergraduate tuition and fees, room and board, and other expenses can change over time—at CollegeBoard.org.
  • Use our College Savings Calculator to estimate costs, your potential savings goals, and more. 

Ready to get started with Schwab?