529s offer tax-free growth for qualified expenses and many states give tax deductions. Compare to taxable accounts for flexibility.

What inflation rate should I use?

Historically 4–6%; use the high end to be conservative.

When should I reduce risk?

Many glide down risk 3–5 years before college to avoid volatility. Adjust expected return accordingly.

Does this include financial aid?

No. Aid depends on many factors; this is a savings projection only.

What if I have multiple kids?

Run separate projections or allocate savings across beneficiaries; totals here are per child.

finance calculator

529 College Savings Calculator

Project future college costs with inflation and see whether your current savings and monthly contributions will cover them or leave a shortfall.

Results

Projected annual cost (first year): $54,572
Total projected cost (all years): $218,287
Projected 529 balance at college start: $128,895
Shortfall (if any): $89,392
Years until college: 16.00

How to use this calculator

Enter your child’s current age and expected college start age.
Enter current annual cost, cost inflation %, and years of college.
Enter current savings, monthly contribution, and expected annual return.
Review projected cost, 529 balance at college start, and any shortfall.

Inputs explained

College cost inflation: Historical averages run 4–6%/yr; use a conservative number.
Expected return: Assumed annual return on your 529 investments; adjust lower as college nears.
Years of college: Typically 4, but adjust for longer programs.

How it works

We grow today’s annual cost by the college cost inflation rate over the years until college to get first-year cost, then multiply by years of college for a total cost.

We compound current savings monthly with your contribution and expected return until college start.

Shortfall = total projected cost − projected 529 balance (floored at 0).

Formula

Projected annual cost = Current cost × (1 + Inflation)^{Years until college}
Total cost = Projected annual cost × Years of college
Balance grown monthly with contributions at Expected return ÷ 12
Shortfall = Total cost − Projected balance (min 0)

When to use it

Setting a contribution plan to meet future tuition costs.
Adjusting contributions after a market change or a new child.
Comparing in-state vs private school cost assumptions.

Tips & cautions

Use conservative returns and realistic inflation (4–6%) to avoid shortfalls.
Increase contributions as income grows to close gaps sooner.
Shift to safer investments as college nears to reduce volatility risk.
Assumes steady contributions and returns; does not model market volatility or changing contributions.
Does not include taxes/aid; 529 tax benefits and financial aid effects aren’t modeled.
Treats cost inflation and returns as constant; real-life varies.

Worked examples

Age 2 → 18, $25k current cost, 5% inflation, $5k saved, $400/mo, 5% return, 4 years

Projected annual cost ≈ $54,572; total ≈ $218,287
Projected 529 at start ≈ $128,895
Shortfall ≈ $89,392

Age 8 → 18, $30k current cost, 4% inflation, $15k saved, $600/mo, 6% return, 4 years

Projected annual cost ≈ $44,407; total ≈ $177,629
Projected 529 at start ≈ $126,110
Shortfall ≈ $51,519

Deep dive

This 529 college savings calculator projects future college costs with inflation and compares them to your 529 balance based on current savings, contributions, and expected return.

Use it to see if you’re on track for tuition or if you need to increase contributions to close a shortfall.

FAQs

Should I use a 529?: 529s offer tax-free growth for qualified expenses and many states give tax deductions. Compare to taxable accounts for flexibility.
What inflation rate should I use?: Historically 4–6%; use the high end to be conservative.
When should I reduce risk?: Many glide down risk 3–5 years before college to avoid volatility. Adjust expected return accordingly.
Does this include financial aid?: No. Aid depends on many factors; this is a savings projection only.
What if I have multiple kids?: Run separate projections or allocate savings across beneficiaries; totals here are per child.

Related calculators

finance

Savings Goal Timeline Calculator

Estimate how many months it will take to reach a savings goal given your current balance, monthly contributions, and expected return.

finance

Emergency Fund Calculator

Estimate how much cash you should keep for emergencies based on monthly expenses and risk factors like variable income, single-income household, and dependents.

finance

Savings Growth Calculator

Project account balances when you combine an initial deposit with ongoing monthly contributions.

Estimates only. College inflation, returns, aid, and tax benefits vary. Consult a financial professional for personalized planning.