College Savings (529) Goal Planner
Estimate whether your current college savings and contributions might cover future college costs in a simple, educational model. Optionally, see what monthly contribution might be needed to reach a coverage target.
This is an educational planner to help you understand college savings projections, not personalized financial, tax, or legal advice.
Last updated: February 9, 2026
Planning for College Costs That Keep Rising
The 529 college savings planner answers the question every parent asks: am I saving enough? College costs have risen faster than general inflation for decades—what costs $30,000/year today could be $50,000+ in 10 years. Without running the numbers, most families either save too little or don't know where they stand.
The most common mistake? Using today's college costs as your target. A family saving $300/month for 15 years might think they're on track for a $25,000/year school, not realizing that school will cost $45,000/year by the time their child enrolls. Tuition inflation changes everything.
Enter your current savings, monthly contributions, years until college, expected returns, and projected tuition inflation. The planner shows whether your savings will cover 100% of projected costs—or what contribution would get you there.
What Shapes Your College Savings Target
Years until college is your biggest lever. Starting when your child is born gives you 18 years of compound growth. Starting at age 10 gives you only 8 years—requiring much higher monthly contributions to reach the same goal.
Current annual college cost varies dramatically by school type:
- Public in-state: ~$25,000-$30,000/year (total cost of attendance)
- Public out-of-state: ~$45,000-$55,000/year
- Private university: ~$55,000-$85,000/year
Tuition inflation rate has historically averaged 5-8% annually, though recent years have been closer to 4-5%. This planner lets you adjust this assumption to see how different rates affect your target.
Expected investment return should be realistic. 529 plans invested in stocks have historically averaged 6-7% after inflation, but age-based portfolios shift to bonds as college approaches, reducing expected returns in later years.
Target coverage percentage doesn't have to be 100%. Many families target 50-75%, expecting scholarships, financial aid, or reasonable student loans to cover the rest.
Two College Savings Scenarios
Example 1: Starting at Birth
Inputs: 18 years until college, $0 current savings, $300/month contributions, targeting state university ($28,000/year today), 5% tuition inflation, 6% investment return.
Result: Projected total 4-year cost: approximately $245,000. At $300/month, projected savings at enrollment: approximately $116,000—about 47% coverage. To reach 100%, monthly contribution would need to be ~$635.
Interpretation: Starting at birth makes 100% coverage achievable at ~$635/month. But 47% coverage with $300/month is still valuable—it covers nearly half, with scholarships or financial aid covering the rest. Many families target 50-70% coverage intentionally.
Example 2: Late Start at Age 10
Inputs: 8 years until college, $15,000 already saved, $500/month contributions, targeting state university ($28,000/year today), 5% tuition inflation, 6% investment return.
Result: Projected total 4-year cost: approximately $165,000 (fewer years of inflation). Projected savings at enrollment: approximately $82,000—about 50% coverage. To reach 75% coverage, monthly contribution would need to be ~$800.
Interpretation: Starting late limits compound growth, but $15,000 head start helps. Targeting 75% coverage instead of 100% keeps contributions manageable. The family plans for modest student loans (~$25,000 total) to bridge the gap—much less than average student debt.
When to Use This Planner
Use this planner when:
- You're starting a 529 and want to know how much to contribute monthly
- You're checking whether your current savings pace will meet your goal
- You're comparing costs: in-state vs. out-of-state vs. private
- You're deciding whether to target 50%, 75%, or 100% coverage
- You have multiple children and need to budget across accounts
This planner won't:
- Calculate your specific state's tax deduction for 529 contributions
- Estimate financial aid or scholarship amounts
- Account for withdrawals during college years
- Guarantee any outcome—tuition inflation and returns vary
What to Know About 529 Plans
Tax advantages matter. 529 earnings grow tax-free federally, and qualified withdrawals aren't taxed. Many states offer tax deductions for contributions—often $2,000-$10,000 per year. Check your state's plan before choosing an out-of-state option.
Don't over-save. Funds not used for qualified education expenses face taxes plus a 10% penalty on earnings. But the SECURE 2.0 Act now allows unused 529 funds to roll into a Roth IRA (up to $35,000 lifetime, with conditions), reducing the over-saving risk.
Age-based portfolios reduce risk automatically. Most 529s offer portfolios that shift from stocks to bonds as college approaches. This protects against a market crash right when you need the money. If managing your own allocation, shift to conservative investments 2-3 years before enrollment.
Financial aid impact is modest. Parent-owned 529s are counted as parental assets on FAFSA, reducing aid eligibility by up to 5.64% of the account value—much less impactful than student-owned assets.
Assumptions in This Planner
- Tuition inflation and investment returns remain constant (real rates vary)
- Contributions happen consistently each month
- No withdrawals until college enrollment
- Total cost of attendance (tuition + room/board + fees) is the target, not just tuition
These simplifications show the trajectory of your savings plan. Real outcomes depend on actual tuition increases, market performance, and whether your child attends a school matching your cost assumptions.
Sources
For Educational Purposes Only - Not Financial Advice
This calculator provides estimates for informational and educational purposes only. It does not constitute financial, tax, investment, or legal advice. Results are based on the information you provide and current tax laws, which may change. Always consult with a qualified CPA, tax professional, or financial advisor for advice specific to your personal situation. Tax rates and limits shown should be verified with official IRS.gov sources.