How to use the 529 plan calculator
- 1 Enter your child's age and current 529 balance.
- 2 Enter your monthly contribution and expected return.
- 3 Enter today's yearly college cost and the cost inflation rate.
- 4 Choose the years of college and read how much is covered.
Worked example
A 3-year-old with $5,000 saved and $300 a month at 6%, for a college that costs $30,000 a year today. The 529 could reach about $98,056 at 18. With 4% cost inflation, four years of college may cost about $229,429, so the plan covers 43%. Saving about $458 more a month would cover it all.
529 rules worth knowing
- Tax-free withdrawals for tuition, fees, books, computers and room and board at eligible colleges, trade schools and many schools abroad.
- K-12 tuition: up to $20,000 a year per student from 2026, raised from $10,000.
- Gifts: contributions count as gifts. You can give up to $19,000 per child in 2026, or front-load five years ($95,000) in one go with a gift tax election.
- Leftover money can go to another family member, or up to $35,000 over a lifetime can roll into the beneficiary's Roth IRA if the account has been open 15 years.
Many states give a tax deduction for contributing to their own plan. Saving for your own retirement comes first; check it with the Retirement Calculator. See long-term growth with the Compound Interest Calculator.
Features
Future cost
College costs rise each year until and during college.
Gap and fix
Shows the shortfall and the extra monthly saving to cover it.
Share covered
See what percentage of costs your plan pays.
When to use it
New parents
Set a monthly amount early, when growth has the most time. See growth with the Compound Interest Calculator.
Public or private
Compare in-state, out-of-state and private college costs. Keep your own plan on track with the Retirement Calculator.
Grandparents
Plan gifts into a 529. Check your credit with the Child Tax Credit Calculator.
Catch-up
See what to save if you started late. Compare with borrowing using the Student Loan Calculator.
Related Savings and Investing tasks
Frequently asked questions
What is a 529 plan?
A tax-advantaged education savings account. Growth is tax-free, and withdrawals for qualified education expenses are not taxed.
What can a 529 pay for?
College tuition, fees, books, room and board, up to $20,000 a year of K-12 tuition from 2026, apprenticeships and up to $10,000 of student loan repayment.
Can I deduct 529 contributions?
Not federally, but over 30 states give a state income tax deduction or credit.
How much can I contribute?
There is no yearly federal limit, but gifts above $19,000 a person in 2026 use your lifetime gift exclusion unless you elect to spread up to $95,000 over five years. Plans set total limits, often over $500,000.
What if my child does not go to college?
You can change the beneficiary to another family member, roll up to $35,000 into the child's Roth IRA over time, or withdraw with tax and a 10% penalty on earnings.
What does college cost?
Published tuition and fees for in-state public four-year colleges average about $11,000 a year, and total cost of attendance including housing is often $25,000 to $30,000. Private colleges cost much more.
Does a 529 affect financial aid?
A parent-owned 529 counts as a parental asset, which has a small effect on aid.
Which state's plan should I use?
Start with your home state's plan if it offers a tax deduction. Otherwise, compare fees and investment options across states.
What are age-based portfolios?
Investments that shift from stocks to bonds and cash as the child gets closer to college.
Results are estimates based on the official rates linked above. Confirm important figures with the issuing authority or a qualified adviser before you act on them.
Built and reviewed by Hamza Farooq, founder and lead developer
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