529 College Savings Calculator

How much do you need to save monthly to fund your child's education? Accounts for tuition inflation and investment growth.

College Cost & Timeline

Child's Current Age

College Start Age Usually 18

Current Annual College Cost ($) Total cost (tuition, room, board, fees)

Years in College

Tuition Inflation Rate (%/yr) Historical avg ~5% per year

Expected 529 Return (%/yr) Age-based funds typically 6–8%

Current 529 Balance ($) What you already have saved

Savings Coverage Goal (%)

About 529 College Savings Plans

A 529 plan is a tax-advantaged savings account designed for education expenses. Contributions grow tax-free, and qualified withdrawals for education expenses are also tax-free federally (and usually state tax-free too).

Key 529 Facts

No annual contribution limit (but contributions over $18,000/year trigger gift tax rules)
Many states offer state income tax deductions for contributions
Can be used for tuition, room and board, books, computers, and K-12 expenses
Can be transferred to another family member if child doesn't go to college
Starting 2024: Unused 529 funds can be rolled into a Roth IRA (up to $35,000 lifetime, with conditions)
Counts against FAFSA, but at a lower rate than student assets

Start Early — Compounding Matters

Starting at birth vs. age 5 can cut your required monthly savings nearly in half. Even small amounts compound significantly over 18 years.

Note: This calculator provides estimates only. Actual college costs, investment returns, and financial aid availability will vary.