The college fund calculator shows you exactly how much to save each month to fully fund your child's college education. It accounts for tuition inflation and investment growth so you hit your target no matter when you start saving.
College Savings Calculator
How to Plan a College Fund
Starting a college fund early is the most powerful decision you can make for your child's education. This college fund calculator shows the real cost of waiting.
529 Plans: Tax-Advantaged Savings
A 529 plan grows tax-free and withdrawals for qualifying education expenses are federal tax-free. Many states offer state income tax deductions for contributions. In 2025–2026, you can contribute up to $18,000/year per beneficiary without gift tax implications ($36,000 per couple). 529 funds can now also be used for K-12 tuition up to $10,000/year and apprenticeship programs.
The Cost of Waiting
Starting at birth vs. age 5 for a $60,000/year private school (at 5% inflation, 7% returns): birth = ~$800/month; age 5 = ~$1,100/month. That 5-year delay costs $300/month extra for 13 years — $46,800 more invested for the same outcome. Starting is more important than the amount.
FAQ
Is this college fund calculator free?
Yes, completely free. All calculations run locally in your browser.
How much should I save for college each month?
For a public university (average $30,000–$35,000/year in 2026), saving from birth with a 7% annual return and 5% tuition inflation, you'd need about $350–$500/month. Private universities ($55,000–$65,000/year) require $700–$1,000/month. Starting early is the most powerful factor — every year earlier roughly saves 15–20% of the monthly payment.
What is a 529 college savings plan?
A 529 plan is a tax-advantaged savings account specifically for education expenses. Contributions grow tax-free and withdrawals for qualified education expenses are also tax-free. Most states also offer a state income tax deduction for contributions. 529 funds can be used for tuition, room and board, books, and fees.
What is tuition inflation?
College tuition has historically increased 4–6% per year — roughly double general inflation. A public university costing $30,000/year today will cost approximately $49,000–$58,000/year in 15 years at 3–5% annual inflation. Your savings must grow faster than tuition inflation to maintain purchasing power.
Should I save more or take out student loans?
Saving is almost always better than loans. A $30,000 student loan at 6.5% over 10 years costs $40,500 total. That same $30,000 invested at 7% over 10 years grows to $59,000. Even modest savings significantly reduces the loan burden your child graduates with.