Inputs : Parents ages, children's ages, starting of college
Current college expenses
Various inflation rates that apply to different college expenses
Annual per child savings toward college expenses
Variable rate of growth on savings - decreasing as child gets closer to college
% of college that parents will pay
Outputs: Projected cost of college, necessary savings rate, lump sum to pay for college. For both public and private school costs.
See attached document - it does most of the calculations now, but I need to tweak it by hand for each new client, depending on the starting ages of the children, etc.)
I would like it to automatically pick up the correct rate of return, based on the age of the child (rate of return listed in B4-C11).
Would like to have table in AD4 to AO10 automatically populate, based on when child or (children) start college.
Set up for 2 children now, ideally could be variable...