See how much you need to save for college, project your 529 plan growth, and find out if you're on track to cover tuition, room, and board.
Child & savings information
College assumed to start at age 18
$
What you've already saved
$
How much you'll add each month
$
e.g. tax refund or bonus each year
$
e.g. gift, inheritance, or windfall today
%
Typical 529 plan: 5–8%
%
College Board historical average: 3–5% per year
Typically 4 years
🏫Community CollegeLoading...Tuition only · commuter
🔧Trade SchoolLoading...Tuition only · commuter
🏛️Public In-StateLoading...
🎓Public Out-of-StateLoading...
🏛️Private UniversityLoading...
✏️Custom amountEnter below
Include room & board
Toggle off for commuter students
* Costs shown are 2026 national averages. Actual costs vary by institution.
$
Total annual cost including room & board
Savings projection
Savings vs cost projection
Chart shows projected 529 balance vs projected college cost over time. College cost assumes 5% annual inflation.
What if I adjust my contribution?
Year by year breakdown
Year
Child's age
529 balance
Projected cost
Gap / surplus
How it works
How this calculator works
Enter your child's current age, the school type, and how much you've already saved. The calculator projects how much you'll need by enrollment and how much to save monthly to reach that goal, accounting for college cost inflation and investment growth over time.
1
Enter child's age
How many years until college enrollment
2
Choose school type
Public in-state, private, community college, and more
3
Enter current savings
Any amount already saved toward college
4
See your target
Monthly savings needed to reach your college goal
FAQ
Frequently asked questions
What is a 529 college savings plan?
A 529 plan is a tax-advantaged savings account designed specifically for education expenses. Contributions grow tax-free federally and withdrawals are tax-free when used for qualified education expenses such as tuition, room and board, books, fees, and computers. Most states offer their own 529 plan and some provide a state income tax deduction for contributions. There is no annual contribution limit, though contributions are subject to gift tax rules — you can front-load up to 5 years of annual gift exclusions ($18,000 × 5 = $90,000) in a single year per contributor.
How much does college cost on average?
According to the College Board, average annual costs for the 2024-2025 school year are approximately $28,840 for public in-state universities (tuition, fees, room and board), $46,730 for public out-of-state, and $60,420 for private four-year colleges. Community colleges average around $4,050 per year for tuition and fees only.
How fast do college costs increase?
College costs have historically increased at about 4-6% per year — faster than general inflation. This calculator defaults to 4% annual college cost inflation, which is a conservative estimate. Over 18 years a $30,000 annual cost today could grow to approximately $61,000 per year by the time your child enrolls.
Can 529 funds be used for expenses other than tuition?
Yes — 529 funds can be used for a wide range of qualified education expenses including tuition, room and board, books, supplies, computers, and fees. Since 2019 up to $10,000 per year can also be used for K-12 private school tuition. Unused funds can now be rolled over to a Roth IRA under certain conditions thanks to the SECURE 2.0 Act.
What if my child doesn't go to college?
You have several options if your child doesn't use the 529 funds. You can change the beneficiary to another family member, roll up to $35,000 into a Roth IRA for the beneficiary (subject to conditions), use funds for trade or vocational schools, or withdraw the money — though non-qualified withdrawals are subject to income tax and a 10% penalty on the earnings portion only.
Does a 529 plan affect financial aid eligibility?
A parent-owned 529 plan is counted as a parental asset on the FAFSA and assessed at a maximum rate of 5.64% — a relatively small impact on aid eligibility. A student-owned 529 is also treated as a parental asset. Grandparent-owned 529 plans no longer count against financial aid under the updated FAFSA rules effective for the 2024-2025 school year.