How the calculator works
- It grows today's yearly cost by your inflation rate to each year your child is in college, and adds those years up.
- It grows your current savings and monthly contributions at your expected return until college starts.
- It compares the two and, if there is a gap, finds the extra monthly amount that would close it by the start date.
Money that stays invested during college would keep growing, so this is a slightly cautious estimate.
Ways to make the most of a 529
- Start early: a contribution made when your child is a baby has 18 years to grow.
- Check your state's plan for a tax deduction, and compare fees between plans.
- Ask grandparents to contribute for birthdays and holidays; many plans offer gift links.
- Most plans offer age-based portfolios that shift to safer investments as college gets closer.
Already borrowing? Plan repayments with the student loan calculator. Saving for other goals? See the savings calculator.
Last reviewed October 2026.
Frequently asked questions
What is a 529 plan?
A 529 plan is a tax-advantaged savings account for education. Your money grows free of federal tax, and withdrawals are tax-free when used for qualified costs like college tuition, fees, books, room and board, up to $10,000 a year of K–12 tuition, apprenticeships and some student loan repayment. Many states also give a state tax deduction for contributions.
How much does college cost?
According to the College Board, average published tuition and fees for 2025–26 were $11,950 at in-state public four-year colleges, $31,880 for out-of-state students and $45,000 at private nonprofit colleges. Adding housing and food brings the yearly totals to roughly $26,000, $46,000 and $61,000. Your actual price after grants can be much lower.
What inflation rate should I use for college costs?
College prices have risen faster than general inflation over the long run, though growth has slowed in recent years. Many planners use 3% to 5% a year. Try a couple of rates to see the range.
What if my child doesn't go to college?
You can change the beneficiary to another family member, use the money for trade school or apprenticeships, or roll up to $35,000 over a lifetime into the beneficiary's Roth IRA (if the account has been open 15 years, within annual limits). Non-qualified withdrawals pay income tax plus a 10% penalty on the earnings.
Do I need to save 100% of the cost?
Not necessarily. Many families aim to save a portion, often a third to a half, and cover the rest with current income, scholarships, grants and modest loans. The calculator shows what share your plan covers.