College Savings Goal

I did some research on college savings for Anne. With the estimated cost of college going up every year, we are trying to start saving early. According the calculator below, for us to save the money she needs for college, we have to start saving almost $600 a month. Yikes and that's just for one child. I guess we had better get started.  We obviously can't save $600 a month at this time but maybe we can save enough for one year of school.  We only need $150 a month for that. Every little bit helps, right?

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Results

If your goal is to cover 100% of the $246,972 projected cost of college,
you will need to start making monthly contributions of $577 to meet that goal.

Your child:

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Will be attending a college that currently costs $ annually. 
Has   1  2  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18   years until college. 
Will attend college for   1  2  3  4  5  6  7  8   years on a            full time           half time          basis.

You:

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Wish to save enough to pay for % of projected college costs. 
Wish to meet your savings goal by the time your child            begins           ends          college. 
Currently have $ in your college savings.
Wish to make            lump sum           annual           semi-annual           monthly          contributions to your college savings.
Expect college costs to increase by % per year. 
Expect to earn % after-tax each year in your college savings plan. 

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"Precious treasure and oil are in a wise man's dwelling, but a foolish man devours it." Proverbs 21:20

"The plans of the diligent lead to profit as surely as haste leads to poverty." ~ Proverbs 21:5