Plan for education costs with a 529 college savings calculator. Enter your child's age, target college costs, monthly contributions, and expected returns to see if you're on track. Compare projected savings against estimated tuition costs with inflation.
A 529 plan is a state-sponsored, federally tax-advantaged investment account designed specifically for education expenses. Contributions are made with after-tax dollars (no federal deduction, though most states offer a state-level deduction or credit for residents who use the in-state plan), but the investments grow tax-free, and qualified withdrawals — for tuition, fees, books, computers, room and board, and certain K-12 expenses up to $10,000 per year — are entirely tax-free at both federal and state levels.
The math problem 529 plans solve is brutal: college costs have inflated at roughly 4–5% annually for decades, well above general inflation. A four-year private college that costs $300,000 today may cost $480,000 by the time a current 5-year-old enrolls. Even in-state public universities can run $115,000–$140,000 for a full degree. Funding this from cash flow during the college years is essentially impossible for most families; the only viable path is to start saving early and let compounding do the heavy lifting.
This calculator compares your projected 529 balance at college start age (based on your current balance, monthly contributions, and expected return) against the projected cost of college (current annual tuition inflated forward by your chosen tuition inflation rate, times years of college). The output shows how much of the cost you're on track to cover and what gap, if any, remains. Treat the cost projection as a stress test — small differences in tuition inflation produce large differences in the final number.
Child age 0, $0 starting balance, $400/mo contribution, 7% return, $28,000 current annual tuition, 5% tuition inflation, 4 years of college. n = 18 years Projected balance at age 18: $400 × 12 × [(1.07^18 − 1)/0.07] ≈ $173,000 Projected 4-year cost: $28,000 × (1.05^18) × 4 + interpolation ≈ $290,000 Coverage: ≈ 60%. The remaining $115,000 gap can be filled by parental cash flow during college, student loans, or scholarship/grants. Increasing the contribution to $600/mo: balance ≈ $260,000, coverage ≈ 90%.
Child age 10, $15,000 starting balance, $500/mo contribution, 6% return, $40,000 current annual tuition (private mid-tier), 5% tuition inflation, 4 years. n = 8 years Projected balance at age 18: 15,000 × 1.06^8 + 500 × 12 × [(1.06^8 − 1)/0.06] ≈ 23,900 + 60,000 ≈ $84,000 Projected 4-year cost: ≈ $215,000 Coverage: ≈ 39%. Starting late dramatically limits the achievable balance. Increasing monthly to $1,000 only raises balance to ~$140,000 (still 65% coverage). Time, not contribution rate, is the dominant variable.
Child age 3, $25,000 starting balance, $1,000/mo contribution, 7% return, $80,000 current annual tuition (elite private), 5% tuition inflation, 4 years. n = 15 years Projected balance: 25,000 × 1.07^15 + 1,000 × 12 × [(1.07^15 − 1)/0.07] ≈ 68,950 + 301,500 ≈ $370,500 Projected 4-year cost: $80,000 × (1.05^15) × 4 (plus tuition inflation across years) ≈ $740,000 Coverage: ≈ 50%. Even with aggressive saving, fully funding an elite private college from a 529 alone is extremely difficult. The remainder usually comes from parental cash flow during college, merit/need-based aid, and family contributions outside the 529.
Use this calculator any time after a child is born — or earlier, if you're a future parent planning ahead — to set or revisit a 529 contribution rate. The earlier you start, the more compounding does for you. Starting at birth with $300/mo at 7% produces about $134,000 by college age. Starting at age 10 with the same $300/mo produces only about $52,000.
It is also useful to revisit annually. As the child grows older, the appropriate asset allocation usually shifts more conservative (most 529 age-based portfolios automate this), which means the assumed return should also moderate over time. Re-running the calculator each year with updated balances and a current realistic return helps catch drift early.
Pair this with the savings-goal calculator (general-purpose goal funding), the compound-interest calculator (to model what an increased contribution would do), and the cost-of-living calculator (because the "right" college cost depends heavily on geography).
A few key 529 facts worth knowing: (1) most states offer a state income tax deduction for 529 contributions to the in-state plan, often $5,000–$10,000 per child per year. (2) SECURE 2.0 (2024+) allows rolling up to $35,000 lifetime of unused 529 funds into a Roth IRA for the beneficiary, subject to conditions. (3) Parent-owned 529s count as parental assets on FAFSA, assessed at a maximum of 5.64% per year — much better treatment than student-owned savings. (4) Funds can be transferred to another family member if the original beneficiary doesn't need the money.
See how your money grows over time with compound interest and regular contributions.
Find out how much to save each month to reach your financial goal.
Calculate how your savings grow with regular deposits and compound interest.
Project future college costs with inflation and savings growth.
Build a CD ladder strategy for optimal liquidity and returns.
Calculate how long it takes to save one million dollars.
Current cost per year
Projected Savings
$80,680
Projected Tuition Cost
$203,185
Surplus / Shortfall
$-122,505
Shortfall
Total Growth
$28,880
| Year | Age | Contributions | Growth | Balance |
|---|---|---|---|---|
| 1 | 6 | $3,600.00 | $408.00 | $9,008.00 |
| 2 | 7 | $3,600.00 | $648.48 | $13,256.48 |
| 3 | 8 | $3,600.00 | $903.39 | $17,759.87 |
| 4 | 9 | $3,600.00 | $1,173.59 | $22,533.46 |
| 5 | 10 | $3,600.00 | $1,460.01 | $27,593.47 |
| 6 | 11 | $3,600.00 | $1,763.61 | $32,957.08 |
| 7 | 12 | $3,600.00 | $2,085.42 | $38,642.50 |
| 8 | 13 | $3,600.00 | $2,426.55 | $44,669.05 |
| 9 | 14 | $3,600.00 | $2,788.14 | $51,057.19 |
| 10 | 15 | $3,600.00 | $3,171.43 | $57,828.63 |
| 11 | 16 | $3,600.00 | $3,577.72 | $65,006.34 |
| 12 | 17 | $3,600.00 | $4,008.38 | $72,614.72 |