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This calculator shows you how much money you must contribute each month to an interest-bearing bank account or investment fund in order to reach your savings goals.

Parents should try to save at least one-third to half the projected costs of their child's college education. Ideally the savings plan (in the parents' name) should be established when the child is born, but it is never too late to start saving. (To reach $35,000, you would need to contribute $25.12 per week for 17 years to an account that earns 5% interest.)