529 Plan Calculator (College Savings Simulator)

Free 529 plan calculator. Enter your current balance, monthly contribution, and expected return to project your balance at college enrollment and see how it compares to your savings goal.

What Is the 529 Plan Calculator?

A 529 plan is a tax-advantaged college savings plan offered by U.S. states. Investment earnings grow tax-free, and withdrawals are also tax-free when used for qualified higher education expenses such as tuition, books, and room and board. This calculator projects your account balance at the time your child enrolls in college based on your current balance, monthly contribution, and expected rate of return, and shows how that balance compares to a savings goal you enter.

College costs in the U.S. vary enormously by school type and state residency, ranging from roughly $100,000 to well over $200,000 for four years. Because starting early lets compound growth do more of the work, this calculator also shows the monthly contribution needed to reach your goal exactly if your current pace falls short.

How to Use the 529 Plan Calculator

Enter your current balance Enter the amount already saved in the 529 plan. Leave it at 0 if you have not started yet.
Enter your monthly contribution Enter the amount you plan to contribute each month going forward.
Enter your expected annual return Enter the expected annual return of the investments held in the plan. A conservative estimate of 5-7% is commonly used.
Choose the years until college Select the number of years from now until your child is expected to enroll in college (typically age 18).
Enter your savings goal and review the results Enter your target school's estimated total cost as your savings goal to see your projected balance, achievement rate, and required monthly contribution if you are behind.

Tips for getting more out of it

Starting a 529 plan right after a child is born maximizes the number of years compound growth has to work, so an earlier start often matters more than a larger monthly contribution.
Many states offer a state income tax deduction for contributions to their own 529 plan, so check your home state's tax benefits before comparing plans from other states.
As college approaches, consider shifting from a stock-heavy allocation to a more conservative mix of cash and bonds (an age-based portfolio) to reduce the risk of an unexpected drop in balance right before enrollment.
It is common for grandparents and other relatives to contribute to a 529 plan as a gift. Many plans also support "superfunding," which lets a donor front-load up to five years of the annual gift tax exclusion in a single contribution.
In case tuition ends up lower than expected or your child does not attend college, it is worth understanding beneficiary changes and the newer option to roll over unused funds into a Roth IRA under certain conditions.

When to Use This Calculator

Deciding when to start a 529 plan

Compare how much the projected balance changes if you start saving right after birth versus a few years later, to see how much starting years matter.

Deciding on a monthly contribution amount

Adjust the monthly contribution while watching the achievement rate to find an amount that fits your budget.

Checking whether you are on track

If your current pace falls short of your goal, see exactly how much you would need to contribute monthly to close the gap.

Comparing plans for multiple children

Run the calculator separately for each child with a different number of years until college to estimate the savings pace each one needs.

529 Plan Glossary

529 Plan: A tax-advantaged college savings plan established under Section 529 of the U.S. Internal Revenue Code. Investment earnings grow tax-free, and withdrawals are tax-free when used for qualified education expenses.
Qualified Higher Education Expenses: Expenses such as tuition, required books and supplies, and certain room and board costs that can be paid from a 529 plan tax-free. Using funds for non-qualified purposes triggers tax and a penalty on the earnings portion.
Beneficiary: The person (typically a child or grandchild) whose education expenses the 529 plan funds are intended for, designated separately from the account owner.
Savings Plan: The type of 529 plan that invests contributions in mutual funds or similar investments, with the balance fluctuating based on market performance. This calculator assumes this type of plan.
Prepaid Tuition Plan: A type of 529 plan that locks in future tuition at current prices, usually limited to specific in-state public colleges. Its mechanics differ from investment-based savings plans.
Non-Qualified Withdrawal: A withdrawal from a 529 plan used for purposes other than qualified education expenses. The earnings portion is subject to ordinary income tax plus a 10% additional tax penalty.

Frequently Asked Questions

It depends on how your 529 plan investments are allocated between stocks and bonds, but for long-term savings, a conservative estimate of 5-7% annually is commonly used. Many plans offer an age-based portfolio that shifts toward safer assets as enrollment approaches, so it can be realistic to lower your assumed return for the final years.

As of 2026, a rough benchmark is around $100,000 for four years at an in-state public college, and over $230,000 for a private college. If you already know the target school, using its published tuition and room-and-board figures will give a more accurate estimate.

The earnings portion is subject to ordinary income tax plus a 10% additional tax penalty. There are some exceptions where the penalty is waived, such as when the beneficiary receives a scholarship. Check official state plan information or a tax professional for details.

Since a beneficiary must be designated for each account, families typically open a separate account per child. Most plans allow changing the beneficiary, so unused funds from one child can often be transferred to a sibling's account.

Because 529 savings plans invest in mutual funds, a market downturn can leave the balance lower than projected. Since this calculator assumes a constant rate of return for simplicity, it is a good idea to revisit your assumptions periodically as enrollment approaches and adjust your contributions if needed.

Side Note — Where the Name "529 Plan" Comes From

The name "529 plan" comes directly from Section 529 of the U.S. Internal Revenue Code, which established the program. When it was codified in 1996, it was officially called a "Qualified Tuition Program," but the section number became the common name used in everyday conversation. It is not unusual in the U.S. for tax-advantaged programs to end up known by a code section or an acronym rather than their formal title.

529 plans are administered at the state level, and you are generally free to enroll in another state's plan even if you do not live there. Many states offer a state income tax deduction for contributions to their own plan, so checking your home state's plan first is usually the standard advice. That said, families in states without a tax deduction, or with high-fee investment options, often choose a lower-cost plan from another state instead.

The allowed uses of 529 funds were originally limited mostly to college tuition, but the scope has gradually expanded through legislation. In 2018, up to $10,000 per year in K-12 private school tuition was added as a qualified expense. In 2019, apprenticeship program costs became eligible, and in 2020, up to $10,000 (lifetime) could be used to repay student loans. More recent legislation has also created a pathway to roll over unused 529 funds into a Roth IRA under certain conditions, addressing the long-standing worry that leftover savings from a child who did not attend college, or whose costs turned out lower than expected, might otherwise go to waste.

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