Free Tool

529 College Savings
Plan Calculator

Estimate how much you need to save each month to fully fund your child's college education — factoring in tuition inflation, investment growth, and your existing savings.

Calculate Now →
$36K+ Average annual public college cost
5–7% Historical 529 average return
Tax-Free Qualified withdrawals

Your Details

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Avg. public 4-yr: ~$26K/yr | Private: ~$58K/yr

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Your Savings Plan

Monthly Contribution Needed $—
Total College Cost (Inflation-Adjusted) $—
Years to Save —
Projected Balance at College $—
Total Contributions $—
Tax-Free Growth $—

Projected Growth Over Time

Want to learn more about maximizing your 529 plan?

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How the 529 Calculator Works

01

Enter Your Details

Input your child's age, expected college start date, current savings, and projected college costs.

02

Set Your Assumptions

Adjust the expected rate of return and college inflation rate to match your investment strategy.

03

Get Your Plan

See your required monthly contribution, projected balance, and total tax-free investment growth.

Frequently Asked Questions

What is a 529 college savings plan?

A 529 plan is a tax-advantaged savings account specifically designed to help families save for education expenses. Contributions grow tax-deferred, and withdrawals used for qualified education expenses — including tuition, fees, books, and room and board — are completely tax-free at the federal level.

How much should I contribute to a 529 plan?

The right contribution depends on your child's age, your target school's cost, and your expected investment return. Our calculator above gives you a personalized monthly contribution target. Generally, starting early and contributing consistently leads to the best outcomes due to compound growth.

What is the contribution limit for a 529 plan in 2024?

There's no annual contribution limit, but contributions are treated as gifts. The annual gift tax exclusion for 2024 is $18,000 per donor per beneficiary. You can also "superfund" a 529 by making a lump-sum contribution of up to $90,000 (5 years × $18,000) per beneficiary at once.

What happens if my child doesn't go to college?

If funds aren't used for education, you can change the beneficiary to another family member, roll funds to a Roth IRA (up to lifetime limits, per recent SECURE 2.0 rules), or withdraw the money (subject to taxes and a 10% penalty on earnings only).

Are 529 plans state-specific?

No — you can open a 529 in any state and use it at any accredited college nationwide. However, some states offer tax deductions only for contributions to their own state's plan. Check your state's rules to maximize your tax benefit.

Want a deeper dive into 529 strategy?

Read Our Complete 529 Guide →