How much do you have to save for college?

There is no set number for how much a person or parents should save for college because all schools have different tuition rates. On average, tuition for a bachelor's degree in 2014 is just over $33,000. However, this number is expected to increase significantly.

One way to determine how much a student may need is to look at the average tuition and divide that amount by how many months are left before the student begins classes. This provides an idea of how much money needs to be saved every month to have enough to pay for college out of pocket.