529 College Savings Calculator

Project how much you’ll have saved for college and how much more you’d need to save each month.

By the CalculateBright team · Updated · How we calculate

Tuition, fees, room and board
  

    How to use the 529 College Savings calculator

    1. Enter your numbers. Fill in child’s age now, age starting college, yearly college cost today, years of college, college cost inflation, saved so far, monthly contribution, investment return.
    2. Read your results. Results update instantly. The headline shows the projected savings at college start; the breakdown below show the details.

    How the projection works

    The calculator inflates today’s yearly college cost by the college inflation rate to each year your child will be enrolled, adds those years up, and compares the total with what your savings will grow to by the first year of college.

    Future cost = cost today × (1 + inflation)years until each college year
    Monthly needed = contribution that grows savings to the total cost

    529 plan basics

    • Earnings grow tax-free and withdrawals are tax-free for qualified education expenses (tuition, fees, books, room and board; K–12 tuition up to an annual cap; and student loan repayments up to a lifetime limit).
    • Many states give a tax deduction or credit for contributions to their own plan.
    • Unused funds can be moved to another family member, or (since 2024, within limits) rolled into the beneficiary’s Roth IRA.

    There’s no federal annual contribution limit, but gifts above the 2026 annual exclusion ($19,000 per donor per beneficiary) use gift tax exemption unless you elect 5-year averaging.

    Worked example

    With these inputs: child’s age now 5; age starting college 18; yearly college cost today $30,000; years of college 4; college cost inflation 4%; saved so far $10,000; monthly contribution $300; investment return 6%.

    The calculator gives a projected savings at college start of $92,407 (covers 44% of the estimated $212,120 cost). Other results: total projected cost $212,120, funding gap $119,714, monthly needed to cover 100% $808.45, first-year cost $49,952.

    What your results mean

    Projected savings is what you’ll likely have when college starts. The funding gap is what loans, scholarships, current income or extra savings would need to cover.

    Tips

    • Start early: even small monthly amounts compound for 18 years.
    • Check your state’s 529 tax deduction.
    • Shift to more conservative investments as college approaches.

    Frequently asked questions

    How much should I save in a 529 per month?

    It depends on target school and years left. Saving $250 a month from birth at 6% grows to roughly $97,000 by age 18.

    Is there a 529 contribution limit for 2026?

    No annual federal limit, but contributions above $19,000 per donor per beneficiary count against the gift-tax exclusion; states set lifetime limits.

    How much does college cost?

    Costs vary widely: in-state public, out-of-state public and private colleges differ by tens of thousands a year. Use a school’s net price calculator for a specific estimate.

    What happens if my child doesn’t go to college?

    Change the beneficiary, use it for eligible trade or apprenticeship programs, roll up to the lifetime limit into a Roth IRA, or withdraw with tax plus a 10% penalty on earnings.

    Does a 529 hurt financial aid?

    Parent-owned 529s count as parental assets, assessed at up to 5.64% in the federal aid formula, far less than student assets.

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    Sources