529 College Savings Calculator
Project how your 529 college fund could grow from current savings, monthly contributions, and investment returns — then compare it to estimated college costs.
Compare against college cost (optional)
Add an estimated cost to see whether your plan is on track to cover it.
Frequently Asked Questions
What is a 529 plan?
A 529 plan is a tax-advantaged US savings account designed for education costs. Investments grow tax-deferred and qualified withdrawals are federal-tax-free.
Does the growth get taxed?
Earnings grow tax-deferred, and qualified withdrawals for education are free from federal income tax. State tax treatment and deductions vary, so check your state’s rules.
Will my plan cover college?
Enter an estimated annual college cost and years in college to compare your projected balance against the total need and see any shortfall or surplus.
Understanding the 529 College Savings Calculator
A 529 plan is a tax-advantaged US account built for education costs, where investments grow tax-deferred and qualified withdrawals are free from federal income tax. This 529 college savings calculator projects how a plan could grow between now and the first year of college. You enter your current balance, a recurring monthly contribution, the number of years until enrollment, and an expected annual return. The tool compounds everything monthly to estimate the projected balance, how much you actually contributed, and how much came from investment growth. Optionally, add an estimated annual college cost to see whether your plan is on track or falls short.
How it works
The calculator compounds your balance once per month. Each month it multiplies the running balance by one twelfth of your annual return, then adds your monthly contribution, repeating for every month until college begins. Total contributed is your starting savings plus all monthly deposits; investment growth is the projected balance minus everything you put in. If you supply an annual college cost, the tool inflates that figure forward to each college year (using your optional cost-inflation rate), sums it across the years in college, and subtracts the total from your projected balance to show a surplus or shortfall. A growth chart plots balance against contributions so you can see compounding pull ahead over time.
Worked example
Suppose you start with $5,000, add $300 a month, have 15 years until college, and expect a 6% annual return. Compounding monthly, the plan grows to roughly $112,000. Of that, about $59,000 is money you contributed and roughly $53,000 is investment growth. If you estimate $25,000 per year for 4 years of college with 5% cost inflation, the projected cost grows to around $230,000 — revealing a shortfall and a signal to raise contributions or start earlier.
Tips & common mistakes
- Start early — the extra years of compounding usually matter more than the size of any single contribution.
- Be realistic with your expected return; a 5-6% long-term assumption is more prudent than chasing double-digit figures.
- Add a cost-inflation rate, since college costs have historically risen faster than general inflation.
- 529 tax benefits and state income-tax deductions are state-specific — check your own state's plan before assuming a deduction.
- Qualified withdrawals are federal-tax-free, but non-qualified withdrawals can incur income tax plus a 10% penalty on earnings.
- Revisit the projection yearly and adjust contributions as costs, returns, and your timeline change.
Sources & methodology
- • IRS — Topic No. 313 / Publication 970, Qualified Tuition Programs (529 plans)
- • U.S. Securities and Exchange Commission (Investor.gov) — An Introduction to 529 Plans
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Reviewed by the TopOpenTools editorial team · Last updated June 2026. These tools provide general estimates for educational purposes only and are not financial, tax, insurance, investment, or medical advice. Verify important decisions with a qualified professional.