Torrid Technologies Releases College Savings Planner, the Latest Addition to its WebCalcsâ Financial Calculators Suite

This new application, which includes 529 plan functionality, has been developed to answer a very important question "How much will parents have to save to put their children through college"? Banks, mutual funds, insurance companies, broker dealers and advisory firms may license the product to enhance their existing online marketing and service strategies. Private labeling will ensure the user is unaware that they are accessing a third party product.

The advanced version of the College Savings Planner will allow the user to identify a specific college for each child; the system will then access a database containing the current expenses related to attending that school and project out the cost of future tuition and housing expenses. It will then illustrate how much needs to be saved to pay all those tuition bills for each child. The system can be used for any after-tax investments or tailored for 529 plans, college savings accounts, or Coverdell Education Savings accounts.

Torrid Technologies was founded in 1993 and is focused on delivering interactive financial solutions. Its products are being used by clients such as Safeco, Franklin-Templeton, MONY Group, Zurich Scudder Investments, and Massachusetts Financial Services to attract and retain investor’s assets.