529 College Savings Calculator
See how your 529 plan grows over time and how much to save each month to hit your college cost target.
College Cost Benchmarks (2026)
| School Type | Annual Cost | 4-Year Total | Monthly Savings (15 yrs, 6%) |
|---|---|---|---|
| Public 2-Year (Community) | $10,000 | $20,000 | $69/mo |
| Public 4-Year (In-State) | $27,000 | $108,000 | $371/mo |
| Public 4-Year (Out-of-State) | $44,000 | $176,000 | $605/mo |
| Private Non-Profit | $58,000 | $232,000 | $798/mo |
| Ivy League / Top 25 | $82,000 | $328,000 | $1,128/mo |
How to Plan 529 College Savings — Step by Step
A 529 plan grows tax-free and withdrawals for qualified education expenses are tax-free. Here's how to calculate your savings target and get there.
- 1Estimate future college cost. Current average 4-year cost: $110,000 (public in-state) to $240,000 (private). Apply 5% annual college inflation. A child born today will face ~$284,000–$620,000 in 18 years at current trends.
- 2Decide your coverage goal. Most families aim to fund 50–100% of expected costs. Scholarships, loans, and work-study cover the rest. 50% coverage = a more achievable target without over-saving in a restricted account.
- 3Calculate required monthly contribution. Use future value of annuity formula. Starting at birth with 7% growth targeting $150,000: Monthly = $150,000 × (r/12) / [(1+r/12)^216 − 1] ≈ $340/month.
- 4Choose the right 529 plan. Your state's plan may offer a state income tax deduction. If not, compare to other states — Utah, Nevada, and New York often have low-fee options. Use age-based portfolios that automatically shift from stocks to bonds as college approaches.
Monthly Savings Needed to Reach $150,000 by Age 18
| Child's Current Age | Years to College | Monthly (5% return) | Monthly (7% return) |
|---|---|---|---|
| Newborn (0) | 18 | $415 | $340 |
| 3 years old | 15 | $535 | $455 |
| 5 years old | 13 | $650 | $565 |
| 8 years old | 10 | $945 | $855 |
| 10 years old | 8 | $1,280 | $1,180 |
| 12 years old | 6 | $1,870 | $1,755 |
Starting early cuts required monthly savings in half vs starting at age 10. The newborn-to-college advantage is $840/month vs $340/month at 7% return.