Granite Edvance launches new online tools to help families save for college

Concord, NH – Granite Edvance has introduced two new online tools to help families make better-informed decisions about saving for higher education: the College Savings Estimator and the Cost of Delaying Savings Calculator. 

The tools are designed to provide clarity and guidance for families as they plan ahead: 

• The College Savings Estimator allows families to enter their student’s current grade level and assumed college information. The calculator uses hypothetical inflation information to estimate the future cost of college and recommends a monthly contribution to the student’s 529 plan to afford the college education. 

• The Cost of Delaying Savings Calculator uses similar information to estimate how a delay in savings would affect the family’s monthly contribution amount. 

• Both calculators allow families to change the information entered to see different future scenarios. 

A 529 plan—one of the most popular ways to save for college—is a tax-advantaged investment account that grows free from federal income tax, with tax-free withdrawals for qualified education expenses. According to the College Savings Plans Network, more than $525 billion has been was saved nationwide in 529 accounts, as of December 31, 2024.  

“While it’s never too early to start saving for college, it’s also never too late,” said Granite Edvance President and CEO Christiana Thornton. “There’s still an opportunity, no matter where you are in the process, and Granite Edvance is here to help. Our new tools are designed to help parents, grandparents, and caregivers take the first step toward building a stronger financial future for the students they care about.” 

Families can access the new tools at www.GraniteEdvance.org/calculate-the-costs/.