Want to start planning and saving for college but not sure how? MEFA’s Education Planning Center is the perfect place to start. The tool can:
• Project your future college savings
• Estimate what college might cost for you
• Help you discover colleges and scholarships
Use the tool
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You can use MEFA’s Education Planning Center to project college costs and create a personal savings strategy for each child in your family. Here’s how to get started. First, visit mefa.org/educationplanningcenter. Click on the orange Get Started button and create a username and password to start using the tool.
A good place to start is the Financial Center. Once you enter income and savings information, you can select colleges and see a personalized side-by-side breakdown that includes the total cost of attendance at each school, your projected financial aid, how much borrowing would be required, and whether that debt is manageable based on the Loan Manageability Index.
Navigate to the Content Center to find modules and articles organized by your child’s age and grade. In addition to the content modules, the Education Planning Center includes a set of standalone tools in the Resource Center that you can use at any point. The savings calculator lets you see how much you need to save monthly to reach your college savings goal.
The SAI calculator lets you estimate your family’s expected financial aid eligibility. The loan navigator lets you model loan payments and see how different borrowing decisions affect long-term cost. The college search lets you explore colleges by size, location, programs, and more. The scholarship search lets you search thousands of scholarships and grants your student may qualify for.
The cost of delaying savings tool shows how much more you’ll need to contribute if you start saving for college on the later side. Ready to get started? Visit mefa.org/educationplanningcenter.