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529 Plan Calculator

Calculate how much to save in a 529 education savings plan to cover future college costs based on current age, tuition inflation, and investment returns.

Child and school timing

Cost and investment assumptions

$
%
$
%

Monthly contribution needed

$209.92

13 years until college, 7.0% expected return

Projected total cost

$84,848.10

4 years at 4.0% inflation

Future value of current balance

$2,952.16

Growth on today's 529 balance

Funding mix at enrollment

  • Contributions$43,824.0251.6%
  • Investment growth$41,024.0848.4%

How this 529 projection works

Inflate each college year separately, then solve for the monthly deposit that closes the gap.

  1. Project each school year

    Ct=C0×(1+g)tC_t = C_0 \times (1 + g)^t

    Today's $12,000.00 annual cost is compounded forward at 4.0% for each year of enrollment. Summing those years gives $84,848.10 in projected tuition and fees.

  2. Grow the current balance

    FV=PV×(1+r)nFV = PV \times (1 + r)^n

    Your current $1,000.00 529 balance compounds at 7.0% through the savings period, reaching $2,952.16 before the last funded year.

  3. Solve for monthly contributions

    FVannuity=PMT×(1+i)n−1iFV_{\text{annuity}} = PMT \times \frac{(1 + i)^n - 1}{i}

    The remaining $81,895.93 gap is filled with equal monthly deposits at a monthly rate of 0.583% over 204 months.

Projected annual costs

Each row shows the inflated cost for one school year.

YearAgeCost
Year 1Age 18$19,980.88
Year 2Age 19$20,780.12
Year 3Age 20$21,611.32
Year 4Age 21$22,475.77
Projections use your entered return and college-cost inflation assumptions. Actual 529 performance, state tax treatment, and tuition increases can differ. This tool is for planning only, not tax or investment advice.
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What is a 529 plan calculator?

A 529 plan is a tax-advantaged account used to save for qualified education expenses. This calculator estimates how much college may cost after inflation, how your current balance can grow, and the monthly contribution needed to close any funding gap before enrollment. All math runs in your browser.

Enter your child's age, the age when college starts, today's annual cost, and your return and inflation assumptions. The tool inflates each school year separately, compounds your existing 529 balance, and solves for the monthly deposit required to reach the total. For broader monthly budgeting that includes an education savings bucket, the 50-30-20 rule budget calculator splits take-home pay across needs, wants, and savings. Once you know how much room is left for retirement, the 401k calculator projects employer match and long-term account growth.

How future college costs are projected

Each school year is inflated from today's annual cost to the year that year begins. If today's cost is $12,000, inflation is 4%, and college starts in 13 years, the first year costs about $19,980. Later years cost more because inflation keeps compounding.

Ct=C0×(1+g)tC_t = C_0 \times (1 + g)^t

C₀ is today's annual cost, g is the annual college-cost inflation rate, and t is the number of years until that school year starts. Summing each inflated year gives the total projected cost across the years you choose to fund.

How monthly contributions are calculated

The calculator first grows your current 529 balance to the end of the savings period using compound return. The remaining gap between projected costs and that future value is filled with equal monthly deposits. Investopedia's future value of an annuity formula describes the same ordinary-annuity math used here.

FV=PV(1+r)n+PMT×(1+i)m−1iFV = PV(1+r)^n + PMT \times \frac{(1+i)^m - 1}{i}

PV is your current balance, r is the annual return, n is years of growth on that balance, PMT is the monthly contribution, i is the monthly return, and m is the number of monthly deposits. The calculator rearranges this equation to solve for PMT after subtracting the future value of your current balance from the total projected cost.

What counts as a qualified expense

529 withdrawals used for qualified education expenses are generally tax-free at the federal level. Qualified costs include tuition, fees, books, supplies, and room and board for students enrolled at least half time. State tax treatment varies. This calculator models total annual cost as one figure; split tuition, housing, and fees in your inputs if you want a tighter estimate.

Frequently asked questions

What return rate should I use?
Many planners use 6% to 7% for a stock-heavy 529 portfolio early on, then lower assumptions as college approaches. Age-based funds follow a similar glide path. Use a conservative rate if you want a cushion against market downturns.
What inflation rate fits college costs?
Historical college-cost inflation has often run near 5% per year, above general inflation. You can enter your own assumption based on the schools you are targeting.
Does this include state tax benefits?
No. Some states offer deductions or credits for 529 contributions. This calculator focuses on the savings math, not your tax return.
What if I already save monthly?
Enter your current 529 balance in the starting balance field. The monthly contribution result shows the additional deposit needed to fully fund the projected cost under your assumptions.
Can I fund fewer than four years?
Yes. Change the years of college to fund. The calculator sums only the school years you select.
Are the results stored?
No. Changing the fields only updates the page URL so you can copy and share your inputs.

Resources and references

The formulas and methods in this calculator were checked against these independent sources.