529 College Savings Calculator
See how much to save, and if you're on track.
About Your Child & Savings Goal
Projected Cost
$0
in future dollars
Your Target
$0
0% of cost
Projected Balance
$0
at start of college
Enter your details to see your status.
To reach 100%:
Monthly contribution needed: ā
š Don't Forget the Tax Benefits
529 plans grow tax-free and withdrawals for qualified education expenses are tax-free. Many states also offer a state income tax deduction for contributions, often worth $500ā$2,000/year at typical deduction rates.
Starting in 2024 (SECURE 2.0), unused 529 funds can be rolled into a Roth IRA, so there's no longer a penalty for over-saving.
How Much Should You Save for College?
The biggest mistake families make is waiting too long to start. Thanks to compound growth, starting at birth vs. age 10 can mean the difference between reaching your goal with $200/month vs. $800/month for the same target.
A common framework: aim to save one-third from savings (529), fund one-third from current income during college, and let one-third come from scholarships and work-study. You don't need to save 100%, build a realistic plan and start now.
The best 529 plans: Utah's my529, Nevada's Vanguard 529, and New York's Direct Plan consistently top rankings for low fees and investment options. You can use any state's plan regardless of where your child attends college.
529 planning is just the start
A fee-only advisor can coordinate college savings with your retirement strategy, you can't borrow for retirement, but you can for college.
Find a Fee-Only Advisor ā