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529 College Savings Calculator

Calculate 529 savings needed for college.

Plan education costs from K-12 through university.

Free college savings calculator.

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Complete K-12 + College Cost Planning

This calculator projects the full cost of educating your child from kindergarten through college, accounting for inflation, investment growth, and your existing 529 balance.

Use the pre-filled examples above to see realistic scenarios, or customize every detail to match your family's situation.

The calculator breaks down costs into five interactive tabs:

- **K-12 Costs**: Public vs private school scenarios with inflation adjustments

- **College Costs**: Tuition, room & board, and fees for in-state, out-of-state, or private universities

- **529 Strategy**: Monthly contribution targets to reach your savings goal

- **Education vs Retirement**: Balance competing priorities and see trade-offs

- **Timeline**: Year-by-year breakdown of contributions, growth, and withdrawals

Start with a pre-filled example, then adjust child's age, school choices, current 529 balance, and contribution amounts to build your personalized education funding plan.

How to Use the 529 Strategy Tab

The **529 Strategy** tab shows your monthly savings target to reach your college cost goal. Key metrics include:
  • **Monthly Savings Target**: How much to contribute each month to fully fund college by the start date
  • **Total Contributions**: Sum of all monthly deposits between now and college
  • **Investment Growth**: Expected returns on your 529 investments (adjustable rate)
  • **Projected College Cost**: Total college expenses accounting for annual inflation
If the monthly target feels too high, try: - Starting with a partial funding goal (e.g., 50-75% of total costs) - Adjusting expected 529 returns (conservative: 5-6%, moderate: 7%, aggressive: 8-9%) - Comparing in-state public vs private college costs - Increasing your current lump sum contribution if possible

Balancing Education and Retirement Savings

The **Education vs Retirement** tab helps you see the trade-off between 529 contributions and retirement savings.

Remember:

**You can borrow for college, but not for retirement.** Financial planners recommend funding retirement first, then education savings with any surplus.

  • If 529 contributions force you to reduce 401(k) contributions below your employer match, you're leaving free money on the table
  • A common strategy: max out employer match → Roth IRA → 529 → additional 401(k)
  • Consider partial college funding goals (50-75%) instead of 100% if retirement savings would suffer

The calculator shows how different 529 contribution levels impact your retirement timeline.

Use this to find a sustainable balance that supports both goals without sacrificing your long-term financial security.

Key Financial Terms

Understand the essential concepts behind this calculator

529 Plan (Qualified Tuition Plan)

A tax-advantaged savings plan designed to encourage saving for future education costs, with tax-free growth and withdrawals for qualified expenses.

Learn more →
View all financial terms in our glossary →

Frequently Asked Questions

Common questions about the 529 College Savings Calculator

College costs inflate at approximately 5% annually. If in-state public college costs 8,000 today, it will cost about 2,800 per year in 15 years, or 28,000 total for 4 years. Use our calculator to project exact costs based on your child's age and school preferences.
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College Cost Trends

Education cost data from College Board Annual Survey of Colleges. Costs include tuition, fees, room, and board. Historical increases average 5-6% annually, approximately double general inflation. Actual costs vary significantly by institution type, location, and whether student lives on/off campus. Private university costs often exceed public by 2-3x.
→Source: College Board(2024-25 Academic Year)

Education Savings Projection

Calculations project future education costs using historical cost inflation rates (5-6% annually) and investment returns (6-8% annually based on balanced portfolio). Computes required monthly savings to reach goals. Does not account for financial aid, merit scholarships, or tax benefits of 529 contributions which vary by state.

Retirement Priority and Flexibility

Prioritize retirement savings before fully funding education—you can borrow for education but not retirement. Financial aid formulas count 529 assets in need calculations. Education costs vary dramatically by institution choice. Consider community college starts, merit scholarships, living at home, and reasonable student loans as part of strategy rather than attempting to save full projected costs in advance.