Financial Compass:College Funding Screen

From UngerKnowledgeBase

The College Funding screen lets you enter information about college expenses and savings information for the children in the file. This screen is part of the College Funding module, and is conditionally part of the Survivor Needs module when Yes' is selected in the Provide funds for college funding? field in the Survivor Needs screen.

There are two ways to enter information about college costs:

1. You can manually enter the college name, assumed cost in in today’s dollars, the years of college, and the percent the client and co-client expect to fund; or
2. You can click to access a database where you can look up and select regional college costs for specific colleges and universities.

• Note, the analysis can only be run on a child who is younger than 18 years old.

College Funding Information	Description
College Cost	Click this button to lookup the costs and regional averages for 2 and 4-year colleges and universities. The selection you make in the table will be applied to the College Name/School Type, Current Annual Cost and Years of School fields described below. The lookup table is displayed in a pop-up window. If this window does not appear review your pop-up blocker settings.
	College Name/School Type The name or description of the college.
	Current Annual Cost The annual cost for college in todays dollars.
	Years of School The number of years of college costs you want to fund.
	Percent to Provide The percentage of costs to fund.
Savings for College	Current Savings Balance The current balance of funds set aside for college.
	Current Monthly Savings The monthly savings currently being set aside for college costs.
	Expected Rate of Return The effective, projected annual growth rate for college funds.