529 College Savings Calculator
Estimate how much your 529 college savings plan will be worth when your child starts college. Enter the child's age, target college start age, current balance, monthly contribution and expected annual return to see the projected balance and investment growth.
yrs
yrs
%
Estimated 529 balance when college begins
- 1
Monthly return rate
6% ÷ 100 ÷ 12 = 0.005 - 2
Months to save
13 × 12 = 156 - 3
Growth factor
(1 + 0.005)ⁿ = 2.1772How much one unit of money grows over the full compounding period at the monthly rate. - 4
Existing balance grows to
5,000 × 2.1772 = 10,886.18 - 5
Monthly contributions grow to
200 × (2.1772 − 1) ÷ 0.005 = 47,089.47 - 6
Projected balance
10,886.18 + 47,089.47 = 57,976
How does this calculator work?
A 529 plan grows with compound interest: Balance = current × (1+r)^n + monthly × ((1+r)^n−1)/r. Contributions are after-tax but investment growth and qualified withdrawals (tuition, room and board, books) are federal-tax-free. Starting early maximises the compounding period, which is the single biggest driver of the final balance.
Formula
How this is calculated
A 529 plan is a US tax-advantaged savings account designed for education expenses. Contributions grow tax-deferred and qualified withdrawals — for tuition, room, board, books and other approved costs — are tax-free at the federal level. Most states also offer a state income tax deduction on contributions.
The calculator uses the same compound interest formula as any savings or investment projection. Your current balance is the lump sum that grows from today, and the monthly contribution is an annuity added each month. Both streams compound at the same expected annual return (divided by 12 per month). The difference between the projected balance and the total cash put in is the investment growth — the tax-free portion at withdrawal.
Results are before tax and assume a constant return, which real 529 investments (typically age-based target-date funds) do not guarantee. The 2025 annual gift-tax exclusion is $19,000 per donor per beneficiary; contributions above this trigger the gift tax unless you use the 5-year election ("superfunding") allowing a lump-sum of up to $95,000. Unused funds can now be rolled over to a Roth IRA (up to $35,000 lifetime, subject to annual Roth limits) under the SECURE 2.0 Act.
Frequently asked questions
Yes. Since the Tax Cuts and Jobs Act of 2017, up to $10,000 per year per beneficiary can be used tax-free for K-12 tuition at public, private or religious schools. Qualified apprenticeship programmes and certain student loan repayments (up to $10,000 lifetime) are also now covered at the federal level.
You can change the beneficiary to another qualifying family member at any time with no penalty. Alternatively, under SECURE 2.0, after 15 years you can roll up to $35,000 into a Roth IRA for the beneficiary (subject to annual Roth limits). Non-qualified withdrawals are subject to income tax plus a 10% penalty only on the earnings portion, not on contributions.
A rough benchmark is to aim to cover 50% of a 4-year in-state public university cost at today's tuition prices, adjusted for a college-cost inflation rate of about 4–6% per year. Many parents save $200–$500 per month from birth. Use this calculator with a few different monthly amounts to see the range of outcomes.
Also known as
TG we-Calculate Editorial Team. (2026). 529 College Savings Calculator [Online calculator]. TG we-Calculate. https://we-calculate.com/calculator/529-calculator
TG we-Calculate Editorial Team. "529 College Savings Calculator." TG we-Calculate. 2026. https://we-calculate.com/calculator/529-calculator.
TG we-Calculate Editorial Team, "529 College Savings Calculator," TG we-Calculate, 2026. [Online]. Available: https://we-calculate.com/calculator/529-calculator
@misc{wecalculate_529_calculator, title = {529 College Savings Calculator}, author = {{TG we-Calculate Editorial Team}}, howpublished = {\url{https://we-calculate.com/calculator/529-calculator}}, year = {2026}, note = {TG we-Calculate} }
Did this calculator help you?