The college savings calculator shows how much to save monthly in a 529 plan to reach your college cost goal, and how much it costs to wait. Starting earlier dramatically reduces the required monthly contribution.
Your Situation
Current avg: $25K in-state public, $55K private
Enter your situation to see your 529 savings plan.
Monthly Contribution Needed
Savings Summary
Cost of Waiting
Starting earlier dramatically reduces monthly contributions needed.
How to Plan Your College Savings
The college savings calculator projects what college will cost when your child enrolls (accounting for tuition inflation), then works backward to determine how much to save each month starting now.
The Power of Starting Early
A parent who starts saving $200/month at birth will have approximately $80,000 by the time a child is 18 (assuming 6% returns). The same parent starting at age 10 would only accumulate about $27,000 with the same monthly contribution. The early start results in nearly 3x the savings with the same monthly investment.
Tuition Inflation Reality
College costs have risen about 4-6% annually over the past 20 years. A school that costs $35,000/year today will cost roughly $57,000/year in 10 years at 5% inflation. Our calculator applies this inflation to estimate what you'll actually need, not just today's cost.
Tax Advantages of 529 Plans
529 plan earnings grow tax-free, and qualified withdrawals (tuition, room, board, books, computers) are also tax-free. Many states offer a state income tax deduction for contributions — check your state's plan. The Secure 2.0 Act now allows unused 529 funds to roll into a Roth IRA (lifetime limit $35,000), eliminating the risk of over-saving.
If the Monthly Amount Seems Too High
Any amount you save reduces future debt. Saving $5,000 total is worth it — it directly reduces how much you borrow. You can also save for partial college funding, targeting 50% or 75% of costs rather than 100%, with the rest covered by scholarships, work-study, or loans.
FAQ
What is a 529 plan?
A 529 plan is a tax-advantaged savings account specifically for education expenses. Contributions grow tax-free, and withdrawals for qualified education expenses (tuition, room & board, books) are also tax-free. Most states offer a 529 plan with state tax deduction benefits for residents.
How much does college cost in total?
Average total cost (tuition, room & board, fees, books) for 4 years is approximately $110,000 at public in-state universities, $220,000 at public out-of-state, and $250,000+ at private colleges in 2026 dollars. With 5% annual inflation, these figures are significantly higher for children currently under 10.
When should I start saving for college?
The earlier the better due to compound growth. Starting at birth vs. starting at age 10 can mean needing to save 2-3x more per month to reach the same goal. Even $100/month started at birth compounds significantly by college age.
What investment return should I assume for a 529?
A balanced stock/bond portfolio inside a 529 plan has historically returned about 5-7% annually. For a child under 10, a stock-heavy allocation (6-7% assumed return) is common. As they approach college age, portfolios shift toward bonds (4-5% assumed return) to reduce risk.
Can 529 funds be used for K-12 education?
Yes, up to $10,000 per year can be used for K-12 tuition at public, private, or religious schools. Unused 529 funds can be transferred to another family member (sibling, parent, etc.) or rolled over into a Roth IRA up to $35,000 lifetime under the SECURE 2.0 Act.