How does my current savings impact the estimated cost of college using a college planning calculator?

Your current savings can have a significant impact on the estimated cost of college using a college planning calculator. When you enter your savings information into the calculator, it will subtract that amount from the total estimated cost of attending college. This means that the more you have saved, the less you may need to borrow or find alternative ways to pay for college.

However, it's important to keep in mind that college planning calculators only provide estimates and should not be used as a substitute for professional financial advice. Additionally, it's recommended to regularly review and update your savings plan as you get closer to the time when you or your child will be attending college.