Finance

529 College Savings Calculator

Project how much your 529 plan will grow and whether it'll cover your child's education costs.

Child's Current Age

College Start Age

Current 529 Balance ($)

Monthly Contribution ($)

Expected Return (%/yr)

College Type

Tuition Inflation (%/yr)

Formula:
FV = Balance × (1+r/12)^n + PMT × [(1+r/12)^n − 1] / (r/12)
Future Tuition = Current × (1 + inflation)^years

What is a 529 Plan?

A 529 plan is a tax-advantaged savings plan for education expenses. Contributions grow tax-free, and withdrawals are tax-free when used for qualified education expenses including tuition, room & board, books, and even K-12 tuition (up to $10k/year).

529 Plan Benefits

Tax-free growth and withdrawals for education
State tax deduction in many states
High contribution limits ($300k+ depending on state)
Can transfer to another family member if child doesn't use it
As of 2024, unused 529 funds can be rolled into a Roth IRA (lifetime max $35k)