College costs rise every year, and the bill arrives all at once — four tuition payments in four years. A 529 plan lets savings grow tax-free for education, but the hard part is knowing how much to put in. This calculator projects what college will cost by the time your child enrolls, how much your current savings will grow to, and how much you’d need to contribute each month to close the gap.
How to use the college savings calculator
- Enter your child’s age, the age when college starts and the years of college you are planning for.
- Pick a school type for tuition and fees. The presets are 2025–26 national averages from the College Board; choose My own estimate for a specific school.
- Add housing, food and books per year in today’s dollars, or 0 to plan for tuition only.
- Set the yearly college cost increase and the share of costs you want to save for.
- Enter your current 529 balance, monthly contribution and expected return.
How the projection works
The second formula recognizes that you don’t need the whole four-year bill on day one: money for later years keeps earning while earlier bills are paid. i is the monthly equivalent of the annual return and n the months until enrollment.
Worked example
A 5-year-old will start an in-state public university at 18. Tuition averages $11,950 today and the family adds $12,000 a year for housing, food and books — $23,950 in today’s dollars. Costs rise 4% a year, the 529 earns 6%, and the account holds $10,000 with $250 added monthly.
First-year cost in 13 years = 23,950 × 1.0413 = $39,878.51; four-year total = $169,342.66
Needed at enrollment (money keeps earning 6%) = $155,056.01
Projected 529 balance = $79,517.08 — about 51% funded
Monthly contribution to fully fund = $574.55, or a one-time deposit of about $35,416 today
At the current pace the account would pay the first two years and part of the third. Raising the contribution to $600 a month puts the family on track.
2025–26 average tuition and fees
| School type | Published tuition and fees |
|---|---|
| Public two-year (in-district) | $4,150 |
| Public four-year (in-state) | $11,950 |
| Public four-year (out-of-state) | $31,880 |
| Private nonprofit four-year | $45,000 |
Source: College Board, Trends in College Pricing and Student Aid 2025. Published prices rose between about 2.7% and 4% from the year before. Many students pay less after grants and scholarships.
529 plan rules worth knowing
- Tax-free growth. Earnings aren’t taxed federally when used for qualified expenses, and many states give a deduction or credit for contributions.
- K–12 and credentials. Up to $20,000 a year can now be used for K–12 tuition and related costs, and postsecondary credentialing programs qualify too (IRS).
- Gift rules. Contributions count toward the $19,000 annual gift exclusion for 2026; a five-year election allows a larger one-time gift.
- Flexibility. Unused money can go to a sibling, a future grandchild or, within limits, the beneficiary’s Roth IRA.
For a general savings target, try the savings goal calculator; to see the cost of borrowing instead, use the student loan calculator.
Projections assume steady returns and cost growth, which won't happen exactly. This is an estimate for planning, not investment or tax advice; check your state's 529 plan rules.
Frequently asked questions
How much should I save for college each month?
It depends on the school, years until enrollment and expected returns. For a child aged 5 heading to an in-state public university, with $12,000 a year of living costs, 4% cost growth and a 6% return, fully funding four years takes about $575 a month on top of a $10,000 starting balance.
What does college cost now?
The College Board's Trends in College Pricing 2025 reports average 2025–26 published tuition and fees of $4,150 at public two-year colleges, $11,950 at public four-year schools for in-state students, $31,880 for out-of-state students and $45,000 at private nonprofit four-year colleges. Housing, food and books are extra, and net prices after grants are often lower.
What can a 529 plan pay for?
Qualified higher-education expenses include tuition, fees, books, supplies, equipment, and room and board for students enrolled at least half-time. Up to $20,000 a year can now go to K–12 tuition and related costs, and postsecondary credentialing programs also qualify, according to the IRS.
Is there a limit on 529 contributions?
There is no annual federal contribution limit, but contributions are gifts. In 2026 each donor can give up to $19,000 per beneficiary without using any lifetime gift exemption, and a special election lets a donor spread a contribution of up to five years' worth over five years. Each state also caps the total account balance.
What happens if my child doesn't go to college?
You can change the beneficiary to another family member, keep the money for future education, or withdraw it. Earnings on non-qualified withdrawals are taxed and usually face a 10% penalty. Under SECURE 2.0, a limited amount can be rolled into the beneficiary's Roth IRA if the account has been open at least 15 years.