Sallie Mae’s College Cost Calculator Named One of Nation’s Best

Business Wire

AdvisoryHQ Ranking Says Sallie Mae’s Calculator is Easiest to Use

NEWARK, Del.--(BUSINESS WIRE)-- Sallie Mae — the nation’s saving, planning, and paying for college company — announced today its College Cost Calculator has been named one of 2017’s top college savings calculators by AdvisoryHQ, an online news source that reviews and ranks financial services products and providers. Sallie Mae’s calculator received the highest score possible in the ranking’s ease-of-use component.

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Sallie Mae’s free College Cost Calculator lets students and families estimate the cost of college in three simple steps. Enter a school’s annual cost of attendance, the number of years until the student enrolls, and the number of years the student will attend, and the calculator quickly computes the expected cost.

“If you want simplicity, the Sallie Mae College Cost Calculator has it,” AdvisoryHQ reported in its review. “One good thing about this calculator is that it provides you some flexibility, in that you control whether to just consider tuition or add room and board in, as well.”

The College Cost Calculator is just one of the free online tools Sallie Mae offers to help students and families make college happen. The College Planning Calculator features step-by-step instructions for creating a customized how-to-pay-for-college plan, and the Future Savings Calculator estimates savings growth over time. The company also offers suggestions on how to save for college; a comparison of college savings plans; tips on how to achieve college savings goals; and more.

“September is National College Savings Month, which means now is a great time to tap into Sallie Mae’s saving-for-college resources and put them to work,” said Martha Holler, senior vice president, Sallie Mae. “If you haven’t saved for college, our tips can help you start, and if you’re wondering whether you’re saving enough, our tools can help you gauge your success — and they’re all just a few clicks away.”

Here are Sallie Mae’s top saving-for-college suggestions:

Open a separate account for college savings — and make deposits regularly. Put aside a percentage of expected college expenses or a portion of the household budget, or simply commit to saving something, no matter how much, each month. Set up direct deposits, and make saving automatic.
Set a specific savings goal — and a target date for achieving it. Make tracking progress especially easy with a goal-based savings account like SmartyPig, a free, online, FDIC-insured account with competitive rates. SmartyPig was recently awarded the 2017 America Saves Designation of Savings Excellence, which is presented annually to financial institutions that promote sensible savings habits. SmartyPig accounts are offered through Sallie Mae Bank, Member FDIC.
Invest in a tax-advantaged account like a 529 college savings plan. In many states, a 529 plan can be opened with as little as $25. In addition to tax benefits, many 529 plans offer matching grant programs, and some offer scholarships.
Fuel savings faster with cash-back rewards programs. Look for programs like free-to-join Upromise by Sallie Mae, which lets members deposit cash-back earnings directly into a college savings account.

For more information about saving, planning, and paying for college, visit SallieMae.com.

Sallie Mae (Nasdaq: SLM) is the nation’s saving, planning, and paying for college company. Whether college is a long way off or just around the corner, Sallie Mae offers products that promote responsible personal finance, including private education loans, Upromise rewards, scholarship search, college financial planning tools, and online retail banking. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.