College Savings (529 Plan) Calculator
Estimate whether you are on track to pay for college. Enter your child's age, what you have saved, your monthly contribution and today's college cost to see your projected savings, the inflated total cost and the gap.
How to use the college savings calculator
- Enter your child's current age and the age college starts.
- Add your current savings, monthly contribution and expected return.
- Set today's annual college cost, cost inflation and years in college.
Examples
Saving for a 5-year-old
Age 5, college at 18, $10,000 saved, $300/month, 6% return, $25,000/year cost, 5% inflation, 4 years
Projected savings about $91,963 against a projected cost near $203,185, a gap, with roughly $772/month needed to fully fund it.
Frequently asked questions
What is a 529 plan?
A 529 plan is a tax-advantaged account for education costs. Investments grow tax-deferred, and withdrawals for qualified expenses like tuition, fees, books and room and board are generally federal tax-free. This calculator models the balance; check your own plan and state for tax specifics.
How are projected savings calculated?
Your current savings grow at the expected annual return until college starts. The monthly contributions are added as the future value of an ordinary annuity at the same rate (annual return divided by 12 each month), then both are summed.
How is the projected college cost worked out?
The annual cost you enter is treated as today's money. Each future year of tuition is inflated by your cost inflation rate to the year it is actually paid, then every college year is added together for the total.
What does the required monthly contribution mean?
It is the level monthly deposit that, on top of your grown current savings, would exactly fund the projected total cost. If your current savings already cover the cost on their own, it shows zero.
Are returns, costs and tax treatment guaranteed?
No. The return, college cost and inflation are assumptions you provide, not promises. Markets and tuition both vary, so treat the result as a planning estimate and revisit it as things change.
Are my numbers sent anywhere?
No. The math runs entirely in your browser. Nothing you type is uploaded, saved or shared.
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