The cost of college tuition has soared in recent years and is expected to continue rising faster than inflation. Money can help you plan for this expense in the Planner.
1 On the
navigation bar (The strip at the top of the Money screen where you can click to go to the different areas in Money.), click
Planner.
2 Click Lifetime Planner.
3 In the left pane, click Expenses.
4 Click College & Other.
2 In the middle of the screen, click New Expense. The New Expense wizard appears.
3 Click Future college expenses and then click Next.
4 Follow the instructions on the screen.
5 In the left pane, click Results to see how these goals affect your long-term forecast.
6 Review your forecast details. If you don't like what you see in the forecast, you might want to allocate more to long-term savings in your budget.
If my child will live away from home during college, should I also adjust my family's living expenses?
No. Money does this for you automatically. By default, this is scheduled when your child turns 18.
Where can I go for more information about college costs?
See the Education chapter of Decision Center. (On the navigation bar (The strip at the top of the Money screen where you can click to go to the different areas in Money.), click Decisions. Then click Education.)
How do I add current college expenses to my plan?