College Savings Calculator (529 Plan)
Use 529 plans for tax-optimized education savings
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529 College Savings Plans
College costs have risen faster than inflation for decades, making early planning essential. A 529 plan offers tax-advantaged growth.
Use this calculator to see if you're on track and how much to save monthly.
529 Plan Benefits
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Tax-Free Growth
Earnings not taxed annually
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Tax-Free Withdrawals
For qualified education expenses
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State Tax Benefits
30+ states offer deductions
The Power of Starting Early
Based on $100,000 goal with 7% annual returns:
| Start Time | Years | Monthly |
|---|---|---|
| At Birth (18 years) | 18 | $212 |
| Age 5 (13 years) | 13 | $368 |
| Age 10 (8 years) | 8 | $746 |
| Age 15 (3 years) | 3 | $2,435 |
FAQ
Q: What if we save too much?βΌ
A: Change beneficiary, save for grad school, roll to Roth IRA ($35K lifetime), or pay 10% penalty on earnings only.
Q: How do 529 plans affect financial aid?βΌ
A: Parent-owned 529s are assessed at only 5.64% on FAFSA. Grandparent-owned plans aren't reported (2024+).